Morales & Besa, CMS Carey & Allende, Cariola, Díez, Pérez-Cotapos, Prieto and Barros & Errázuriz, advised on the deal
Accel-KKR finalized the acquisition of I-Med from Sonda, Banmédica e Inversiones La Construcción (ILC) for $119 Million. Banco Santander-Chile granted the financing for the transaction.
I-Med, the largest connected health network in Spanish-speaking Latin America, has completed a management-led buy-out by the company’s founder Hector Gomez, with the backing of Accel-KKR, a leading global technology-focused investment firm. The I-Med team is focused on accelerating investments in product innovation and other key initiatives to continue to provide better and more efficient access to care in both the public and private sectors of the Chilean healthcare market.
Founded in 2002, I-Med built the core digital network that facilitates health processes and procedures throughout all of Chile, processing over 600 million transactions per year. The Chilean health system is the most efficient in Latin America and ranked eighth best in the world, largely as a result of the implementation of I-Med over the past 15 years. I-Med’s core value proposition is the integration all the various stakeholders involved in financing and providing healthcare to 18 million Chileans. I-Med plans to leverage its know-how to continue to improve healthcare in Chile and expand into adjacent markets throughout the region.
Accel-KKR is a technology-focused investment firm with $4.3 billion in capital commitments. The firm focuses on software and IT-enabled businesses well-positioned for topline and bottom-line growth. At the core of Accel-KKR’s investment strategy is a commitment to developing strong partnerships with the management teams of its portfolio companies and a focus on building value through significant resources available through the Accel-KKR network. Accel-KKR focuses on middle-market companies and provides a broad range of capital solutions including buyout capital, minority-growth investments, and credit alternatives. Accel-KKR also invests across a wide range of transaction types including private company recapitalizations, divisional carve-outs and going-private transactions. Accel-KKR is headquartered in Menlo Park with additional offices in Atlanta and London.
Through its market-leading online, digital health platform, I-Med securely integrates the processes of all the different constituents that participate in Chilean healthcare market, generating agile, simple and patient-centered healthcare for 18 million Chileans. Pioneers in the digital transformation of Chilean healthcare system, I-Med’s online platform processes hundreds of millions of transactions annually connecting insurance providers, physicians and patients to allow for identity and insurance verification in a simple, efficient and secure manner. The Company’s focus on the modernization of health in Chile has saved Chileans millions of hours of paperwork and resulted in significant cost reductions for insurers and providers. I-Med is based in Santiago, Chile.
Morales & Besa advised Accel KKR with a team including Michel Diban (Picture), José Miguel Carvajal, Francisca Pérez, Maria Teresa Manubens, Monte Trincado, Felipe Corvalán, Lorena Barrientos, María José Becker, Sebastián Nieme, José Manuel Llamazales and María Francisca Estrougo.
CMS Carey & Allende advised Sonda with Ramón Valdivieso, Diego Rodríguez, Enrique Vergara, Sebastián Marquez de la Plata and Rodolfo Leiter.
Cariola, Díez, Pérez-Cotapos advised Banmédica with Gerardo Varela, Rodrigo Lavados, Juan Antonio Parodi, Constanza Weber, Sergio Balharry and Kevin Hes.
Prieto advised ILC with Cristóbal Villarino, Gerardo Cruzat, Juan Andrés Ilharreborde, Isabel Monge, Isabel Monge, Cristina Ríos, Luz María Calvo, Iván Torrealba and Manuela Barros.
Barros & Errázuriz Abogados adised Banco Santander-Chile with Francisco de la Barra, Nicole Ubal and Verónica Simonet.
Involved fees earner: Ramón Valdivieso – CMS Carey & Allende; Diego Rodríguez – CMS Carey & Allende; Enrique Vergara – CMS Carey & Allende; Sebastián Márquez de la Plata – CMS Carey & Allende; Rodolfo Leiter – CMS Carey & Allende; Cristóbal Villarino H. – Prieto; Juan Andrés Ilharreborde – Prieto; Isabel Monge – Prieto; Cristina Ríos – Prieto; Iván Torrealba M. – Prieto; Manuela Barros D. – Prieto; Luz María Calvo – Prieto; Gerardo Cruzat – Prieto; Gerardo Varela – Cariola, Díez, Pérez-Cotapos & Cía Ltda; Constanza Weber – Cariola, Díez, Pérez-Cotapos & Cía Ltda; Kevin Hes – Cariola, Díez, Pérez-Cotapos & Cía Ltda; Rodrigo Lavados – Cariola, Díez, Pérez-Cotapos & Cía Ltda; Juan Antonio Parodi – Cariola, Díez, Pérez-Cotapos & Cía Ltda; Sergio Balharry – Cariola, Díez, Pérez-Cotapos & Cía Ltda; Francisco de la Barra – Barros & Errázuriz Abogados; Nicole Ubal – Barros & Errázuriz Abogados; Verónica Simonet – Barros & Errázuriz Abogados; Michel Diban G. – Morales & Besa; María Teresa Manubens – Morales & Besa; Lorena Barrientos – Morales & Besa; María Francisca Estrougo R. – Morales & Besa; José Manuel Llamazales – Morales & Besa; Sebastián Nieme S. – Morales & Besa; José Miguel Carvajal – Morales & Besa; Felipe Corvalán – Morales & Besa; Francisca Pérez – Morales & Besa; María José Becker S. – Morales & Besa; Monte Trincado O. – Morales & Besa;