Corcym Announces Growth Financing To Accelerate International Expansion and Strategic Growth Initiatives
(London) December 23, 2021 - Corcym (UK) Holding (“The Company” or “Corcym”) today announced it has closed a €45 million growth financing with funds managed by Hayfin Capital Management LLP (“Hayfin”). The investment, structured as a combination of preferred equity and a senior credit facility, will be used to accelerate Corcym’s international expansion, strategic growth initiatives and business development.
The obligations under the Credit Facility will be guaranteed on a senior-secured basis by Corcym and each of Corcym’s existing and future wholly owned material subsidiaries, and such investment will be secured by a perfected first priority security interest in substantially all tangible and intangible assets of Corcym, subject in each case to certain exceptions contained in the Credit Facility.
“We are pleased to bring in Hayfin, a leading healthcare investor in both Europe and North America, as part of our capital structure,” said Christian Mazzi, Chief Executive Officer of Corcym. “This transaction allows Corcym to accelerate the execution of its strategy and growth plan.”
Howard Rowe, Managing Director and Head of Healthcare at Hayfin, stated: "Hayfin looks to back innovative, high-growth healthcare businesses and our investment in Corcym, with its leadership position in its key markets and global expansion plans, is consistent with this strategy. We look forward to supporting Corcym’s management team to help it achieve the Company's strategic growth objectives and capitalize on the opportunities for Corcym to expand its competitive position in the structural heart industry."
“We are delighted to be partnering with Hayfin, once again, and look forward to building together the leading company focused on cardiac surgeons and their patients,” said Robert Watson, Partner at Gyrus Capital.
About Corcym
Corcym is a global, independent, medical device company entirely focused on state-of-the-art surgical solutions to fight structural heart disease. CORCYM has a presence in more than 100 countries with approximately 850 employees and ensures strong continuous support to patients, healthcare professionals and healthcare systems worldwide. For more information, please visit www.corcym.com
About Hayfin Capital Management
Founded in 2009, Hayfin Capital Management (“Hayfin”) is a leading alternative asset management firm with approximately €22 billion of assets under management. Hayfin focuses on delivering best-in-class risk-adjusted returns for its investors across its private debt, liquid credit and private equity solutions businesses. Hayfin has a diverse international team of over 165 experienced industry professionals with offices globally, including headquarters in London and offices in Frankfurt, Madrid, Milan, New York, Paris, La Jolla, Luxembourg, Singapore and Tel Aviv. Further information can be found at www.hayfin.com.
About Gyrus Capital
Gyrus Capital is a European private equity firm focused on transformational investments in the healthcare and sustainability sectors. Based in Geneva, Switzerland, Gyrus leverages its sector focus to source, build and transform businesses in the healthcare and sustainability industries that have long-term, sustainable growth potential. Gyrus has a focus on complex transactions, with particular focus on corporate carve outs in the €50 million to €500 million range. To learn more, please visit www.gyruscapital.com.
For media information:
CORCYM Corporate Communication