]init[ AG Expands its Healthcare Business with the Acquisition of HBSN Group
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Issuer: EMERAM Capital Partners GmbH
/ Key word(s): Private Equity/Takeover
Rivean Capital and EMERAM Portfolio Update: ]init[ AG Expands its Healthcare Business with the Acquisition of HBSN Group Berlin, 04 February 2025 – HBSN Group is now fully owned by ]init[ AG für digitale Kommunikation. This strategic combination creates a new market leader in digitalization for public administration and healthcare in Germany. With the acquisition of the HBSN Group, a specialist in digital transformation within the healthcare sector, ]init[ AG – a portfolio company of Rivean Capital and EMERAM Capital Partners – expands its comprehensive end-to-end digitalization portfolio beyond the public sector into healthcare. The acquisition establishes a leading digital specialist with over 1,500 employees across 18 locations. Both parties have agreed to keep the purchase price confidential. “Germany faces significant challenges in both administrative digitalization and the transformation of the healthcare sector. Complex digitalization programs require effective and innovative end-to-end expertise, that are developed, implemented, and operated in a holistic and tailored manner. The combination of ]init[ and HBSN creates a unique service offering for comprehensive digital solutions,” said Harald Felling, Chief Executive Officer of ]init[ AG. “Our clients from both sectors will benefit from our combined strengths as well as additional competencies in key innovation fields, such as AI, IT security, data-sovereign cloud platforms, and IT service management. I look forward to the joint efforts in driving the digitalization, modernization, and advancement of public administration and healthcare in Germany.” With the acquisition of HBSN Group, ]init[ AG expands its healthcare client base by approximately 380 active institutions. These include MD-IT, covering IT operations and support services for all medical services, AOK Saxony-Anhalt, which has a framework agreement for online services; and the Ministry of Social Affairs, Health, and Integration of Baden-Württemberg, which is developing a unified public health application landscape for all state health departments. “Large-scale healthcare tenders increasingly require end-to-end capabilities. Together with ]init['s expertise, we can successfully meet this growing demand,” says Tobias Niemann, Founder of HBSN Group. “As part of ]init[, the competences and network of HBSN expands manifold. I look forward to the collaboration and the diverse synergies that will benefit both parties and our clients.” In light of the structural changes in the healthcare market, the founders and management team of HBSN have taken this strategic step to enhance their market position. “The acquisition of the HBSN Group is a strategically significant step that strengthens ]init[’s position as one of a leading providers of digitalization services in regulated markets,” says Matthias Wilcken, Senior Partner and Member of the Executive Committee at Rivean Capital. “With the support of Rivean Capital and EMERAM Partners, who bring strategic know-how and capital, we are enabling ]init[ to further accelerate growth and achieve substantial progress in key markets such as the healthcare sector. This strategic combination lays the foundation for even greater capabilities to successfully meet the increasing demands for digital transformation in Germany.” “The structural change in the healthcare system is well underway. One of the key challenges is the consistent and sustainable digitalization of this sector. With the acquisition of the HBSN Group, ]init[ is expanding its presence in regulated markets and further driving digital transformation in this area," says Dr. Ruprecht Puchstein, Principal at EMERAM Capital Partners. "It is a central part of ]init[‘s strategy to transfer the existing expertise in the public sector to other regulated industries – a process that has been significantly accelerated by this acquisition." ]init[, Rivean Capital, and EMERAM were advised on the transaction by Strategy& (Commercial), Alvarez & Marsal (Finance & Tax), and Noerr; Goodwin Procter (Legal). HBSN Group was advised by Pava Partners; Palmenthal (M&A), Poellath + Partners; Giese & Partner (Legal), and RSM Ebner Stolz; Dümpelmann & Kollegen (Finance & Tax). About ]init[ AG für digitale Kommunikation ]init[ AG für digitale Kommunikation is a leading expert for digitalization for the public sector and regulated markets. Founded in 1995, the company employs approximately 1,400 people across its locations in Berlin, Hamburg, Cologne, Leipzig, Munich, and Mainz. The company offers simple and sustainable solutions through a holistic digitalization approach from consulting and conceptualization to development and operation. ]init[‘s customer base includes the German Federal Press Office, numerous federal and state ministries, Dataport, and the Federal Institute for Materials Research and Testing (BAM). ]init[ ranked third in the BVDW ranking of full-service internet agencies and was recognized as a Best Managed Company in 2024. Additional subsidiaries of ]init[ AG include Swiss-based Ironforge Consulting AG, with offices in Bern and Zurich, as well as ]init[.DCP - Digital Communication Portugal, Unipessoal Lda in Porto.
Over the past 18 years, HBSN Group has developed into a successful consulting and technology partner in the healthcare market. The group includes HBSN GmbH with its subsidiaries HBSN Certifications GmbH in Germany, and xitee k.s. as well as xitee Beteiligungs s.r.o. in the Czech Republic. The companies support university hospitals and clinics, private and statutory health insurers, medical services, public health authorities, and IT system providers in software development, IT operations, and transformation projects. With 150 employees, the HBSN Group maintains a solid network of partners at its locations in Bad Hersfeld, Braunschweig, Brno, Hamburg, Hornburg, Frankfurt am Main, Leipzig, Lüneburg, Munich, and Prague.
Rivean Capital is a leading European private equity investor in mid-market transactions with operations in the Benelux, DACH region, and Italy. With offices in Frankfurt am Main (GER), Amsterdam (NL), Brussels (BE), Zug (CH) and Milan (IT), funds advised by Rivean Capital manage more than €5bn assets. Since its inception in 1982, Rivean has supported more than 250 companies in realizing their growth ambitions and has a strong track record of supporting and scaling successful businesses with cross-border growth agendas, including footprint expansions and operational excellence trajectories.
EMERAM is one of the leading investment managers for investments in mid-sized companies in the German-speaking region. The funds advised by EMERAM provide more than 800 million euros in capital for the development of growth companies. The investment strategy focuses on the sectors Digital Transformation, Health and Well-Being, as well as Energy Transition. EMERAM acts as a long-term business development partner for its portfolio companies and promotes sustainable growth (both organic and inorganic). In addition, the implementation of comprehensive ESG concepts is a key focus. Currently, the portfolio consists of eight platform investments with a total of more than 3,500 employees. Additionally, a total of 34 add-on acquisitions have accelerated growth and enabled international expansion.
For further information please contact: Media contact EMERAM - WMP EuroCom AG Viona Brandt: Phone: +49 (0)175 93 93 320 | Email: emeram@wmp-ag.de Susanne Horstmann: Phone: +49 (0)89 2488 331 02 | Email: emeram@wmp-ag.de
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