(Bionexo) July 17, 2012 – Bionexo, the biggest electronic business community for the health care industry in Latin America and Europe, integrating hundreds of hospitals and the whole production chain through its web platform, has announced a growth capital investment from Insight Venture Partners.
(*To read this Press Release in Portuguese, click here)
Insight Venture Partners is a leading global private equity firm based in New York that invests exclusively in the software, e-commerce, Internet and data-services industries. The partnership with Insight aims to accelerate Bionexo’s domestic and foreign expansion plans, which are founded on robust organic growth. Financial terms of the deal were not disclosed.
“As a leader in our industry, Bionexo has a responsibility to continue innovating and to keep building a culture of transparency in the Ibero-American health sector. To capitalize on our new opportunities, we knew that it would be important to seek a partner who brings not only financial support but also expertise in the global technology/internet and e-commerce segments. We are truly excited about this partnership with Insight because they have proved to be highly knowledgeable about the opportunities in this sector, and share our vision for the future, said Mauricio De Lazzari Barbosa, Bionexo’s CEO.
“Insight has a long-standing tradition of investing in companies that are “doing well by doing good” and Bionexo is just such a company,” said Larry Handen, Managing Director at Insight Venture Partners. “We are impressed by their commitment to innovation, transparency and efficiency. The company’s solutions drive down third party costs by 10% to 35% through connecting hospitals to more than 13,500 suppliers across five countries. We look forward to supporting Bionexo’s goal of making healthcare more affordable and efficient for suppliers, hospitals and patients.
Larry Handen will be joining the Bionexo’s Board of Directors to support the company’s strategic initiatives. During the transaction, Insight was legally represented by Mattos Filho Avogados and by Goodwin Proctor LLP.
Bionexo is a community made up of thousands of agents in the healthcare sector. Through its innovative web platforms, Bionexo integrates hundreds of hospitals with thousands of health care suppliers across the entire production chain, with a focus on developing sustainable businesses relationships, best results and encouraging transparency. In its 12 years of existence, Bionexo has become an industry leader in the healthcare sector in Brazil, Argentina, Colombia, Mexico and Spain. www.bionexo.com.br
About Insight Venture Partners
Insight Venture Partners is a leading private equity and venture capital firm focused on the global software, e-commerce, Internet and data-services industries. Founded in 1995, Insight has raised more than $5 billion and made more than 150 investments. Insight’s investment team evaluates thousands of companies globally, while Insight Onsite, a team of operations and growth experts works with expansion-stage companies providing advice and resources to build long-term success.