Altium berät Tomorrow Focus bei Verkauf von jameda an Burda Digital

Altium acted as exclusive financial adviser to Tomorrow Focus AG on the 100% sale of jameda GmbH, Germany’s leading eHealth company for physician rating and search. Acquirer is Burda Digital GmbH, part of Hubert Burda Media.
Altium ran a competitive process, resulting in a provisional purchase price of €46.8 million. This amount is equal to c. 8 times anticipated revenue and c. 22 times EBITDA 2015.
For Altium’s Online / Media / Technology practice this represents the 22nd deal to date in 2015, underscoring Altium’s position as the leading adviser in this sector.
jameda is Germany’s biggest physician rating and search platform with over five million patients using the online portal every month. The site also features a booking system that allows patients to make their appointments online. Tomorrow Focus AG (“TFAG”) acquired a majority shareholding in 2008 during the start-up phase and completed its takeover in 2011. Over the past years, jameda has shown constantly high growth rates and expects to generate revenues of €6 million and an EBITDA of €2 million in the financial year 2015. The company is based in Munich and has around 40 employees.
Tobias Schultheiss, Managing Director at Altium, said: “jameda is a strategic asset in the German eHealth market with significant future growth opportunities. Through a competitive process we have generated significant interest, resulting in a premium valuation. Jointly with Burda Digital the company is now very well positioned to further strengthen its market leading position.”
Christoph Schuh, Member of the Management Board at TFAG, paid tribute to the team at jameda: “We are very proud of all the interest shown in jameda and the price offered for the company in the bidding process. In the eight years since it was formed, jameda has grown from a tiny start-up to become Germany’s leading eHealth portal. I am confident that Burda Digital is the right choice of buyer and that it will be able to keep jameda on a trajectory of growth.”
The transaction is expected to close at the end of the year 2015.