On April 23, 2009, Professor Martin Filipec and ARX Equity Partners (“ARX”) completed the leveraged acquisition of 100% of the Lexum Group of companies (“Lexum”). Lexum is the leading network of private ophthalmology clinics in the Czech Republic.
Lexum currently operates clinics in Prague, Ostrava and České Budějovice, with a Brno clinic scheduled to open in summer 2009. In 2008, Lexum successfully performed over 11,000 cataract operations and over 5,700 laser refractive corrective procedures. Lexum is the clear Czech private eye surgery market leader, both in terms of medical reputation and size.
Lexum was founded in 1993 by Professor Filipec, who was Chair of the Department of Ophthalmology at the Teaching Hospital and the 1st Medical Faculty of Charles’ University (Prague), following a fellowship at Harvard Medical School (Boston) and studies at Hôtel Dieu (Paris). Professor Filipec stated, “my partnership with ARX has created a streamlined ownership structure, which will provide a solid foundation for continued client service excellence, while facilitating the next growth phase for Lexum”.
ARX will work in partnership with Professor Filipec to expand Lexum both within the Czech Republic and potentially in other markets of Central and Eastern Europe. “ARX is privileged to work with the world-class team of medical professionals at Lexum; and we look forward to implementing the company’s growth strategy alongside Professor Filipec”, said ARX Co-Managing Partner Brian Wardrop.
Senior acquisition debt facilities for the transaction were provided by LBBW Bank (Czech Republic).