Key success factors in small-cap healthcare LBOs: a case study on the leveraged buyout of Medifox DAN
This thesis investigates the main drivers of value creation in small-cap healthcare leveraged buyouts, a segment of growing relevance within the private equity landscape. While large-cap deals have traditionally relied on financial engineering, the findings of this study suggest that successful outc...
| Autores: | , |
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| Tipo de recurso: | tesis de maestría |
| Fecha de publicación: | 2025 |
| País: | España |
| Institución: | Universitat Politècnica de Catalunya (UPC) |
| Repositorio: | UPCommons. Portal del coneixement obert de la UPC |
| Idioma: | inglés |
| OAI Identifier: | oai:upcommons.upc.edu:2117/443598 |
| Acceso en línea: | https://hdl.handle.net/2117/443598 |
| Access Level: | acceso embargado |
| Palabra clave: | Venture capital Private equity Small business -- Finance Small-cap LBOs, Healthcare PE, Value creation, Medifox DAN Capital de risc Capital d'inversió Empreses petites i mitjanes -- Finançament Àrees temàtiques de la UPC::Economia i organització d'empreses |
| Sumario: | This thesis investigates the main drivers of value creation in small-cap healthcare leveraged buyouts, a segment of growing relevance within the private equity landscape. While large-cap deals have traditionally relied on financial engineering, the findings of this study suggest that successful outcomes in smaller transactions are more often rooted in operational improvements and strategic positioning. Through an in-depth case study of Medifox DAN, a German healthcare software company, the research illustrates how moderate leverage, digital transformation, and targeted acquisitions can significantly enhance business performance and attractiveness to strategic buyers. Although an initial regression analysis on a broader sample of transactions provided limited statistical significance, the case study offers concrete insights into how financial structure, internal optimization, and market consolidation interact to create sustainable value. The conclusions point to the importance of a hands-on investment approach and long-term strategic vision, particularly in regulated and fragmented sectors like healthcare. |
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