PSG Equity and Rivean Capital complete acquisition of Corilus
Ghent, Brussels and London (23 January 2025) – PSG Equity, a growth equity firm that partners with software and technology-enabled services companies, and Rivean Capital have completed the previously announced acquisition of Corilus N.V. (“Corilus” or the “Company”), a leader in medical software solutions for the primary care market in Belgium.
Headquartered in Ghent, Corilus connects healthcare providers, patients and stakeholders through its cloud-based software solutions and its patient app. Corilus, which has around 450 employees, offers a full suite of products and services that are used by more than 30,000 care providers including general practitioners, pharmacists, dentists, midwives, specialists, ophthalmologists, opticians, nurses, physiotherapists and elderly care homes. Almost 1.3m Belgian patients have already registered on the Helena app.
The transaction includes new investment from PSG Equity and re-investment from Rivean Capital, following its initial investment in Corilus in 2020. Over the past months, Rivean Capital has successfully raised a dedicated continuation fund from a broad set of existing and new investors. Together with PSG, the continuation fund includes substantial additional capital to further support Corilus’ organic growth plan and acquisition pipeline. Through these investments, both PSG Equity and Rivean Capital become joint partners to support Corilus’ next stage of growth.
With the increasing pace of digitalisation across the European healthcare industry, Corilus is well placed to strengthen its position as a market leader in Belgium and to pursue organic and inorganic growth across Europe, and is actively exploring potential partnership opportunities. In collaboration with PSG Equity and Rivean Capital, Corilus will use the investment to enhance its products and services offering and evaluate opportunities to further strengthen AI capabilities.
Nicolas Linkens, Senior Partner at Rivean Capital, said: “We are immensely proud of the achievements realized over the past years in collaboration with the management team at Corilus. As we embark on this exciting new chapter, we look forward to a fruitful partnership with PSG Equity and Corilus, leveraging our combined expertise to drive innovation and growth in the European healthcare sector.”
Dany Rammal, Managing Director and Head of Europe at PSG, added: “Corilus has a truly impressive offering and a leading market position, which is a testament to the work of the CEO and the wider management team, in partnership with Rivean Capital. We look forward to using our experience building European software champions to support Corilus in pursuing compelling organic and inorganic growth opportunities and to strengthen innovative technologies, such as GenAI solutions, to further enhance Corilus’ critical medical software solutions and position the company for its next growth chapter.”
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 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.
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.