ADIA Buys a Stake in Dedalus Holding
Posted on 05/25/2021
A wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA) has acquired a significant minority stake in healthcare software provider Italy-based Dedalus Holding S.p.A from the global private equity firm Ardian, which remains Dedalus’s controlling and majority shareholder.
Dedalus provides an extensive range of healthcare information, clinical and administrative software solutions to hospitals, clinics, laboratories, and doctors’ practices. Dedalus is one of Europe’s major healthcare IT businesses and has a presence in more than 40 countries globally. The acquisition is the latest principal investment by ADIA’s Private Equities Department (PED), across its target sectors of financial services, healthcare, industrials, technology, and consumer products.
Hamad Shahwan Aldhaheri, Executive Director of the Private Equities Department at ADIA, said in a press release, “This transaction combines two of our key sector focuses, in healthcare and technology, with the opportunity to back a strong, experienced management team alongside our long term partners at Ardian. Dedalus has an extensive range of software solutions with proven research and development capabilities, and our investment aims to support the company’s ongoing growth plans.
Ardian purchased a 60% ownership interest in Dedalus in July 2016. In particular, Ardian bought a 14% stake in the company from Hutton Collins Partners, a 35.59% stake from Mandarin Capital Partners, and a 10.41% stake from Health Holding Company S.r.l., owned by the company founder Giorgio Moretti, Chairman and CEO of Dedalus. Moretti retained a share of around 40%.