CVC Capital Partners has appointed ex-Apax Partners partner Cathrin Petty as head of European healthcare.
Petty joins London-based CVC from JPMorgan, where she spent two years as head of healthcare in EMEA. Prior to this she was a special partner at Vitruvian Partners, a firm set up in 2006 by former partners at UK private equity houses Apax, BC Partners, and Bridgepoint. Petty joined Vitruvian in 2010 after ten years on the healthcare and life sciences team at Apax Partners.
“We are thrilled Cathrin is coming on board. She has over 20 years of experience in the European healthcare sector, having worked with both corporation and governments. We greatly look forward to working with Cathrin as we continue to look for investment opportunities across the space,” said Soren Vestergaard-Poulsen, managing partner at CVC.
Petty has worked on a number of high profile healthcare transactions including UK private equity firm Cinven's £842 million IPO of private hospital operator Spire Hospitals in 2014 , US buyout giant KKR's acquisition in December last year of forensic sciences group LGC from UK firm Bridgepoint, and the €830 million sale of Atos Medical by Swedish private equity firm EQT to French investor PAI Partners in May this year .
Healthcare is one of CVC's target sectors. Over the last five years the firm has invested €1.6 billion in European companies such as Elsan, a French private hospital operator and Idcsalud, a Spanish provider of healthcare services, for which the investor is reportedly eyeing a €5 billion sale.
The firm's most recent deal in the space came in March this year when it acquired Italy's largest independent pharmaceutical company DOC Generici from Charterhouse Capital Partners for between €650 million and €700 million.
CVC is currently investing in Europe out of its 2013 vintage CVC European Equity Partners VI fund, which closed on €10.91 billion, ahead of its €9 billion target, according to PEI Research & Analytics.