Monday, April 22, 2024

Three law firms advise on the sale of Veritas to LetsGetChecked

Araoz & Rueda and Linklaters have advised Charme Capital Partners and Amadeus Capital Partners on an agreement to sell 100% of Veritas Intercontinental to LetsGetChecked, counselled by Cuatrecasas


Charme Capital Partners, the pan-European mid-market private equity firm, and Amadeus Capital Partners , the global technology investor, have announced that they have reached an agreement to sell 100% of Veritas Intercontinental to LetsGetChecked (Paul Holdings), a global healthcare solutions company based in Dublin and New-York that provides the tools to manage health from home through direct access to diagnostic testing, virtual care, and medication delivery for a wide range of health and wellness conditions.

Veritas Intercontinental was founded in 2018 as a spin-off from Veritas Genetics and has led the activity and development of the Veritas brand outside of the United States, offering a wide range of genomic services. As part of the transaction, Veritas Intercontinental’s shareholders and senior management will reinvest in the company to continue to support its long-term growth and success as part of LetsGetChecked.

Veritas Int. ws founded in 2018 by Javier de Echevarría, (CEO), Dr. Luis Izquierdo (Chief Medical Officer) and Dr. Vincenzo Cirigliano (Chief Technical Officer) is headquartered in Madrid, Spain. The company utilises the most advanced automated interpretation technology to provide risk assessment and preventive care through whole genome sequencing for healthy individuals. Veritas Int. completes its portfolio with a wide range of maternal-fetal screening tests, exome-based panels (such as cancer and cardiovascular risk and newborn screening) and diagnostics testing. Veritas Int. has become a partner to some of the leading hospitals around the world to foster access to the most advanced preventive testing tools available. Today, Veritas Int. helps patients across the globe from its next generation laboratory in Barcelona, Spain and with offices in 4 countries across Europe and Latin America supporting clients in over 30 countries.

Javier de Echevarria, CEO and co-Founder of Veritas Intercontinental, said: “Charme and Amadeus’ resources, industry experience and strategic vision have been a differentiating factor during the company’s period of high growth over the past four years. We would like to thank their teams for all of their support, and we look forward to continuing our collaboration as Veritas Int. enters the next phase of our journey. We are very excited to join LetsGetChecked and thrilled with all the possibilities this will provide to our customers and patients around the globe.”

Araoz & Rueda advised Veritas Intercontinental´s partners (Charme Capital, Amadeus Capital and management team) on the sale with a team formed by partners Pedro Rueda and Guillermo Bueno, along with associate Lucía Medina. The sellers were also advised by Matheson (Dublin).

Linklaters advised the sellers´ shareholders on the deal Tax matters with a team including partner Javier García-Pita, managing associate Carlos Olmedo and associate Marta España.

Cuatrecasas acted as Legal counsel to the buyers (LetsGetChecked) with a team comprising partners Elena Cuatrecasas Giménez-Salinas and Víctor Xercavins Lluch, along with lawyers Pau Masana Preciado, Ariadna Casanueva de la Cruz, Xavier Oriach i Roqueta and Alejandro Auger Portillo.

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