FIMI sells 33% of medical equipment co Simplivia

Ishay Davidi photo: Eyal Izhar

The sale in equal shares to The Phoenix Holdings and Leumi Partners is at a valuation of $140 million.

Private equity firm FIMI Opportunity Funds, headed by Ishay Davidi, has sold 33% of the shares in healthcare company Simplivia to The Phoenix Holdings Ltd. (TASE: PHOE1;PHOE5) and Leumi Partners, in equal shares, for $47 million, at a company valuation of $140 million.

FIMI bought the business from Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) and set up Simplivia in 2019 at an investment of $47.5 million. Including the current deal, FIMI has made a return of $67 million on its investment. It will continue to hold 65% of the company.

Simplivia produces equipment that protects hospital medical staff from exposure to dangerous materials while treating oncology patients. Its production facility is in Kiryat Shemona and its head office is in Hod Hasharon. It employs about 200 people.

Published by Globes, Israel business news - en.globes.co.il - on October 22, 2020

© Copyright of Globes Publisher Itonut (1983) Ltd. 2020

Ishay Davidi photo: Eyal Izhar
Ishay Davidi photo: Eyal Izhar
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