- hg medical was acquired by NORD and its management team in 2020
- hg medical is Astorg Mid-Cap’s second investment in healthcare
- Astorg is a European private equity firm
Astorg, via Astorg Mid-Cap, will acquire a majority stake in hg medical, a global manufacturer of complex orthopaedic implants focused on extremities, from NORD Holding. No financial details of the transaction were disclosed.
hg medical is based in Raisting, Germany.
Astorg will support hg medical to further accelerate its development, both organically and through acquisitions, according to a release.
“This is Astorg Mid-Cap’s first investment in Germany and, after the investment of our flagship fund Astorg VIII into Corden Pharma last year, the second transaction of Astorg in Germany since we opened our Frankfurt office in 2022,” said Florian Luther, partner, and head of Astorg Mid-Cap Germany.
hg medical is Astorg Mid-Cap’s second investment in healthcare, according to Edouard Pillot, managing partner and co-head of Astorg Mid-Cap.
Astorg’s investment will enable hg medical to continue expanding its capacities and service offering, the release added.
hg medical was acquired by NORD and its management team in 2020.
Astorg is a European private equity firm with over €20 billion of assets under management. The firm has offices in London, Paris, New York, Frankfurt, Milan, and Luxembourg.
Nord is a private equity asset management company based in Hanover, Germany. The firm has assets under management of € 2.5 billion.
Astorg was advised by Houlihan Lokey (M&A), Gibson, Dunn & Crutcher, Reed Smith and Kirkland & Ellis (legal), L.E.K. (commercial), EY (financial, tax and cybersecurity), EURO Transaction Solutions (insurance) and ERM (ESG).