Corilus Announces Strategic Investment from PSG
4 July 2024, Ghent, Brussels and London – Corilus N.V. (“Corilus” or the “Company”), a leader in medical software solutions for the primary care market in Belgium, is pleased to announce that an agreement has been reached to strengthen its shareholder base with a significant strategic investment from funds managed by PSG Equity (“PSG”), a growth equity firm that partners with software and technology-enabled services companies.
Corilus helps enable a smart and efficient healthcare system by connecting care providers, patients and stakeholders. Its cloud-based connected care solutions are used by over 30,000 care providers including general practitioners, dentists, physiotherapists, pharmacies, nurses, elderly care homes, hospitals, labs and the patient app Helena. Corilus delivers software solutions that are deeply embedded in the daily jobs of caregivers covering both administrative and clinical processes. Founded in 1998, Corilus is headquartered in Ghent and employs more than 450 staff.
The Company was acquired by Rivean Capital (“Rivean”) in 2020 who have invested significantly in the software suite, accelerated organic growth and solidified Corilus’ position as a market-leader in Belgium. The Company is well positioned to benefit from attractive organic and inorganic market growth opportunities in the years to come, playing its part in enabling the acceleration of the digitalisation of healthcare across Europe.
Dirk Van Lerberghe, CEO of Corilus commented: “The past four years have marked a period of strong growth and innovation for Corilus, made possible through our partnership with Rivean Capital. Their support has been instrumental in our success, and we look forward to continuing this journey together with Rivean Capital and PSG.”
Nicolas Linkens, Senior Partner at Rivean Capital added: “We are immensely proud of the achievements we have made in partnership with Corilus over the past four years. This collaboration has been a testament to the power of shared vision and commitment, and it has been a privilege to work alongside such a dedicated team at Corilus. We are very much looking forward to continuing the journey and together with PSG support Corilus in the next phase of growth.”
Dany Rammal, Managing Director and Head of Europe at PSG, said: “Under the leadership of Dirk alongside Rivean, Corilus has established its position as a leading medical software solutions provider with an impressive offering and client base. We are excited to combine our expertise growing European software champions with Corilus’ talented team to support the expansion of product offerings and functionality, including through the potential of GenAI solutions to assist practitioners, and enter new markets. We see great potential for continued growth through innovation as we seek to accelerate Corilus’ mission to develop a smart and efficient healthcare system.”
Completion of the transaction is expected to take place by the end of this year following satisfaction of certain closing conditions, including approval from the relevant competition authorities.
About Corilus
Corilus develops and provides cloud-based innovative software solutions for healthcare providers: general practitioners, pharmacists, dentists, midwives, specialists, ophthalmologists, opticians, nurses, physiotherapists and elderly care homes. Corilus offers a full suite of products and support services that care providers use to perform their daily jobs. More than 30,000 care providers in Belgium and France use Corilus software every day. Corilus employs more than 450 staff based in Belgium and France. For more information, visit www.corilus.be.
About Rivean Capital
Rivean Capital is a leading European private equity investor in mid-market transactions with operations in the Benelux, DACH region, and Italy. Rivean Capital has assets under management in excess of €5bn and has offices in Amsterdam, Brussels, Frankfurt, Milan, and Zug. Since its inception in 1982, Rivean has supported more than 250 companies in realizing their growth ambitions and has a strong track record of supporting and scaling successful high-tech businesses with cross-border growth agendas, including footprint expansions and operational excellence trajectories. For more information, visit www.riveancapital.com.
About PSG Equity
PSG is a growth equity firm that partners with software and technology-enabled services companies to help them navigate transformational growth, capitalize on strategic opportunities and build strong teams. Having backed over 140 companies and facilitated over 500 add-on acquisitions, PSG brings extensive investment experience, deep expertise in software and technology, and a firm commitment to collaborating with management teams. Founded in 2014, PSG operates out of offices in Boston, Kansas City, London, Madrid, Paris and Tel-Aviv. For more information, visit www.psgequity.com.