Deloitte advised Topcon Corporation on the divestment of its stake in ifa systems AG to NEXUS AG

By on Juli 8, 2019

Deloitte advised Topcon Corporation (“Topcon”) on the divestment of its 52.56% stake in ifa systems AG (“ifa”), a German company offering Health-IT solutions for eye care specialists, to NEXUS AG (“NEXUS”).

About the transaction

The Deloitte Corporate Finance Advisory team in Frankfurt/Main led by Claudius Thiell together with Ryan Edelmann and Alexander Voelkel successfully advised Topcon on the divestment of its 52.56% stake in ifa to NEXUS, a leading European software provider in healthcare. The Corporate Finance Advisory team supported Topcon jointly with the Japanese Deloitte Corporate Finance Advisory led by Shingo Kayama. Furthermore, Deloitte’s industry expertise as well as its integrated service offering, including Tax Advisory in Germany, Japan, the Netherlands, and the US ensured a smooth and efficient cross-border transaction within a short time frame. Moreover, this was the third cross-border transaction between Japan and Germany within two months.

ifa is headquartered in Frechen near Cologne, Germany, has a total workforce of approx. 60 employees and generated revenues of about EUR 7m in 2018. It went public in 2005 and is currently listed in the Open Market (WKN 783078). In 2015, Topcon acquired the majority stake in ifa.

For Dr. Ingo Behrendt, NEXUS CEO, the acquisition is consistent with their buy-and-build strategy: „We see a successful cooperation in projects where both partners can make full use of their competences for the customer’s benefit. NEXUS will especially benefit from ifa’s expertise in ophthalmology. ifa is the first publicly listed company in our portfolio. Together with other shareholders, we will be delighted when the positive corporate development will also be reflected in the share price.“ Joerg Polis, ifa systems CEO, explained: „We are pleased to join with NEXUS AG, a partner that is equally successful in the Health-IT market and with whom we are able to significantly increase the dynamics in our core business. NEXUS fits perfectly well into our partner strategy that allows us to position our software more and more as an integration platform at our customers. Our ability to interface with more than 590 devices and other software solutions is a unique selling point that perfectly meets the requirements of clinics and doctors.“

Through the divestment, Topcon will focus on their new mid-term strategic plan and capabilities in the US.

About the client

Topcon is a Japan-based, listed company engaged in the R&D, manufacture and sale of machine control system, medical and measuring equipment, industrial machinery and optical devices with around 4,500 employees and annual sales of more than EUR 1.1 billion.

About Deloitte – Corporate Finance Advisory

As leading independent M&A advisors, we provide M&A deal execution and financial advisory services to large and mid-market corporations as well as to private equity firms globally. We offer financial advice and insight at every stage of a transaction – from consideration of strategic options to transaction execution, be it an IPO, acquisition or divestment, restructuring or fast track disposal. We pride ourselves in our independent advice to our clients.
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