Tracked deals
12
12 tracked deals across 2020-2025.
Private Equity Firm
Healthcare
SHS Capital
Tübingen, Baden-Württemberg, Germany
SHS Capital is a Tübingen-based healthcare-focused private equity investor that backs European growth and Mittelstand companies across life science, medical technology, diagnostics, digital health, and related applied technologies and industrial biotechnology & pharmaceuticals (no drug development). It provides expansion and shareholder-transition financing and supports portfolio company scale-up and succession transitions.
- Focus Areas
- Life science, Medical technology, Diagnostics
- Website
- shs-capital.eu
Recent pace
0
0 tracked deals announced in the last 12 months.
Deal mix
Growth capital
7 growth capital · 5 buyout
SHS Capital Acquisition Volume by Year
Last 6 years
Supporting Data
Recent Transactions
-
July 8, 2025
- Buyer
- SHS Capital (via SHS VI)
- Target
- Ackermann Instrumente GmbH
- Seller
- Rolf Ackermann (former majority shareholder, remaining minority shareholder)
- Industry
- Medical Devices
- Location
- Germany
- Type
- Buyout
SHS Capital, via its fund SHS VI, has signed a binding agreement to acquire a majority stake in German surgical-instrument manufacturer Ackermann Instrumente GmbH. The investment is intended to support succession and growth, positioning Ackermann as a platform for building a leading, globally positioned MedTech group through further partnerships and add-on acquisitions.
-
November 26, 2024
- Buyer
- SHS Capital (SHS Gesellschaft für Beteiligungsmanagement mbH)
- Target
- Medizintechnik Rostock GmbH (MTR)
- Seller
- Andreas Markschies, Matthias Liewehr
- Industry
- Medical Devices
- Location
- Mecklenburg-Vorpommern, Germany
- Type
- Buyout
Tübingen-based private equity firm SHS Capital has acquired a majority stake in German home care provider Medizintechnik Rostock GmbH (MTR) from the company’s two shareholder-managing directors, who remain significant shareholders. The investment will support MTR’s continued growth and nationwide expansion of its rental-based medical device and in-home service offerings across movement, electro and compression therapy.
-
October 7, 2024
- Buyer
- SHS Capital, SHS Capital limited partners, Other shareholders
- Target
- Develco Pharma
- Industry
- Pharmaceuticals
- Location
- Basel-Landschaft, Switzerland
- Type
- Growth capital
SHS Capital, together with its limited partners and other existing shareholders, is investing approximately €10 million in Develco Pharma to expand manufacturing capacity and accelerate product development in response to exceptionally strong demand. Develco, a specialty pharma developer and manufacturer of modified-release formulations headquartered in Pratteln (DACH region), has been backed by SHS since 2020 and reports an order book exceeding 12 months of revenue.
-
August 10, 2023
- Buyer
- SHS Capital
- Target
- ESSERT GmbH
- Industry
- Medical Devices
- Location
- Baden-Württemberg, Germany
- Type
- Buyout
SHS Capital has acquired a majority stake in ESSERT GmbH, a Bruchsal-based developer of modular robotic automation (the ESSERT MicroFactory) focused on pharmaceutical, life science and industrial customers. ESSERT's founder/CEO Christopher Essert will remain a significant shareholder as SHS looks to accelerate growth and expand the company's customer base using sector expertise from its SHS VI fund.
-
- Buyer
- SHS Capital, ING Corporate Investments, Several Co-Investors
- Target
- CAM Bioceramics B.V.
- Seller
- Existing shareholders (rolled over significant stake)
- Industry
- Medical Devices
- Location
- South Holland, Netherlands
- Type
- Buyout
German healthcare specialist investor SHS Capital, together with ING Corporate Investments and several co-investors, acquired a majority stake in CAM Bioceramics B.V., a Leiden-based contract development and manufacturing organization (CDMO) for orthobiologic calcium phosphate solutions. Existing owners rolled over a significant stake and management remains in place; the transaction aims to strengthen the business and accelerate investment in people, capabilities and customer partnerships to drive growth.
-
June 22, 2023
- Buyer
- SHS Gesellschaft für Beteiligungsmanagement mbH (SHS Capital)
- Target
- MESI Medical
- Industry
- Medical Devices
- Location
- Slovenia
- Type
- Growth capital
Tübingen-based healthcare investor SHS (SHS Gesellschaft für Beteiligungsmanagement mbH) has invested €18 million in MESI, a Slovenian medtech company that develops the MESI mTABLET digital diagnostic platform. The growth capital will be used to expand MESI’s sales organization and product portfolio — including AI-powered predictive applications — to accelerate adoption across primary care, assisted care and other healthcare settings.
-
April 22, 2022
- Buyer
- SHS Capital, yabeo
- Target
- Dr.Dropin
- Industry
- Healthcare Services
- Location
- Norway
- Type
- Growth capital
Tübingen-based healthcare investor SHS Capital, together with Munich-based investor yabeo, has made a growth investment in Norwegian digital+physical healthcare provider Dr.Dropin. The funding (from SHS's fifth fund) will support Dr.Dropin's international expansion across Europe; Dr.Dropin operates 25 clinics, offers digital consultations via an app and reported over €30m revenue in 2021.
-
February 3, 2022
- Buyer
- Impilo, SHS Capital
- Target
- Lowenco A/S
- Seller
- Founder and owners
- Industry
- Medical Devices
- Location
- Denmark
- Type
- Buyout
Nordic investor Impilo and German healthcare-focused investor SHS Capital acquired Lowenco A/S from its founder and owners. Lowenco, headquartered in Vamdrup, Denmark, manufactures modular ultra-low temperature (ULT) storage solutions for the biopharma and pharmaceutical industries; management remains in place and Michael Berg will be appointed chairman of the board.
-
May 27, 2021
- Buyer
- SHS Gesellschaft für Beteiligungsmanagement mbH, Rubio Impact Ventures
- Target
- Incision
- Industry
- Healthcare Services
- Location
- North Holland, Netherlands
- Type
- Growth capital
German healthcare investor SHS and Amsterdam-based Rubio Impact Ventures invested €5 million in Series A funding for Incision to accelerate its international expansion and develop new services for its surgical performance and training platform. Incision, founded in Amsterdam, serves over 200 hospital clients across 18+ countries and will use the capital to expand into the UK, Scandinavia, Belgium and the Middle East and to add new learning and workflow features.
-
January 12, 2021
- Buyer
- SHS Gesellschaft für Beteiligungsmanagement mbH
- Target
- Blue Ocean Spine GmbH
- Industry
- Medical Devices
- Location
- Baden-Württemberg, Germany
- Type
- Growth capital
SHS Gesellschaft für Beteiligungsmanagement (SHS) is the lead investor in Blue Ocean Spine GmbH, a Tuttlingen, Germany-based developer of functional spinal implants that uses additive manufacturing. The investment will support product development, manufacturing scale-up and regulatory activities as Blue Ocean Spine advances next-generation expandable and anchor-equipped cage implants and targets future U.S. FDA approval.
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December 17, 2020
- Buyer
- SHS Gesellschaft für Beteiligungsmanagement mbH
- Target
- Develco Pharma
- Industry
- Pharmaceuticals
- Location
- Basel-Landschaft, Switzerland
- Type
- Growth capital
Tübingen-based SHS Gesellschaft für Beteiligungsmanagement mbH is making a minority growth investment from its SHS V fund in Swiss-German specialty drug company Develco Pharma. Develco, headquartered in Pratteln, Switzerland with ~125 employees and production in Schopfheim, Germany, develops and manufactures orally administered prolonged-release medicines and will use the investment to broaden its pipeline and expand capabilities.
-
February 27, 2020
- Buyer
- SHS Gesellschaft fuer Beteiligungsmanagement mbH
- Target
- Blazejewski MEDI-TECH GmbH
- Industry
- Medical Devices
- Location
- Baden-Württemberg, Germany
- Type
- Growth capital
Tuebingen-based investor SHS Gesellschaft fuer Beteiligungsmanagement mbH has taken a 24.9% minority stake in Sexau-based endoscope manufacturer Blazejewski MEDI-TECH GmbH. The investment is intended to provide growth capital, sector expertise and regulatory support to accelerate internationalization and product development (including 3D endoscopy) for the 70-employee medical device firm.
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