goetzpartners advised Otto Group

goetzpartners advised Otto Group on the acquisition of a majority stake in Medgate Holding

goetzpartners advised Otto Group, the international retail and services group headquartered in Hamburg, on the acquisition of a majority stake in the Switzerland-based Medgate Holding ("Medgate"). At the same time, Medgate is acquiring BetterDoc GmbH ("BetterDoc"), a data analysis service active in the DACH region that helps patients identify the most suitable doctors and clinics for their condition. The founders of Medgate and BetterDoc will continue to hold a minority stake in Medgate and a corresponding contractual agreement has been signed by the parties.

Otto Group is thus pursuing the targeted expansion of its digital services towards digital health. The contractual parties have mutually agreed not to disclose the acquisition price.

Medgate is an internationally active Swiss digital health company with over twenty years’ experience in digital healthcare. More than 100 experienced doctors advise and treat patients around the clock, 365 days a year via app, telephone, video and chat channels. Medgate services include medical consultation, image-based diagnostics, issuing medical prescriptions and certificates of incapacity for work, as well as treatment plans and referrals to medical specialists. Medgate employs around 300 staff in Switzerland and over 500 worldwide.
In addition to its home market Switzerland, Medgate has also been operating in Germany since 2020 where it currently employs 15 staff. It holds contracts with numerous well-known private health insurers, has partnerships with further companies, and is seeking to expand strongly in the German market.

BetterDoc is a leading service provider in Europe in the field of medical-grade data analysis. To guide patients to the best possible doctors, BetterDoc has developed a data analytics-driven system that uses a combination of human and machine intelligence based on medical-grade data to create an ideal match between patient and doctor. In addition, BetterDoc draws on the expertise of a volunteer Advisory Board of over 2,500 leading physicians in Germany and Switzerland.

goetzpartners acted as sole M&A buy-side advisor to Otto Group. This transaction further demonstrates goetzpartners' ability to achieve outperforming results and underlines our competence as advisor of choice in the Healthcare and Digital space, with a special expertise in cross-border transactions.

About Otto Group
Founded in Germany in 1949, today the Otto Group is a globally active retail and services group with around 50,000 employees in 30 major company groups and does business in over 30 countries in Europe, North and South America, and Asia. Its business activities are grouped into three segments: Multichannel Retail, Financial Services, and Service. In the 2020/21 financial year (to 28 February), the Otto Group generated revenues of 15.6 billion euros. With online revenues of approximately 9.9 billion euros, the Otto Group is one of the world’s largest online retailers. The Group’s particular strength is its broad market presence and differentiated product and service offers to diverse customer target groups in almost all of the world’s relevant economic regions. Numerous strategic partnerships and joint ventures provide the Otto Group with excellent opportunities to transfer know-how and leverage areas of synergy potential. Group companies demonstrate a high degree of corporate responsibility and willingness to collaborate with one another; at the same time this guarantees flexibility, customer proximity and optimum target-group appeal in their respective national markets.

About Medgate
Medgate is an internationally active Swiss digital health company with over twenty years’ experience in digital healthcare. More than 100 experienced doctors advise and treat patients around the clock, 365 days a year via app, telephone, video and chat channels. Medgate services include medical consultation, image-based diagnostics, issuing medical prescriptions and certificates of incapacity for work, as well as treatment plans and referrals to medical specialists. Medgate employs around 300 staff in Switzerland and over 500 worldwide.
In addition to its home market Switzerland, Medgate has also been operating in Germany since 2020 where it currently employs 15 staff. It holds contracts with numerous well-known private health insurers, has partnerships with further companies, and is seeking to expand strongly in the German market.

About BetterDoc
BetterDoc is a leading service provider in Europe in the field of medical-grade data analysis. To guide patients to the best possible doctors, BetterDoc has developed a data analytics-driven system that uses a combination of human and machine intelligence based on medical-grade data to create an ideal match between patient and doctor. In addition, BetterDoc draws on the expertise of a volunteer Advisory Board of over 2,500 leading physicians in Germany and Switzerland.

Transaction Team

Ulrich Kinzel
Managing Director
Email

Dr. Herbert Werle
Managing Director

Constantin Straub
Associate

Daniel Quast
Associate