Antwerp/Heverlee, 7 February 2007 - The Belgian-Dutch venture capital company Waterland is to provide growth capital to Ortec NV, a leading Belgian specialist in technical orthopaedics.
Founded in 1988, since its early days Ortec has grown to become number 2 in the Belgian market for technical orthopaedics. The company is active in providing patients with made-to- measure orthopaedic aids, such as orthoses, prostheses, rollators, shoes, support soles and bandages.
Daniel Vandeven and Diederik Jacobs, both founders and managing directors of Ortec, stated: “Since Ortec‟s foundation almost 20 years ago, the market in Belgium for technical orthopaedics has changed enormously. Particularly during the last few years, the technical evolutions in the sector demand increasing investments for such areas as research and development as well as in the production process, which in turn makes an increase in the operating scale desirable in order to make these investments profitable.”
So that the growing needs of the orthopaedic patient can be answered with quality products and impeccable service, Ortec has for some years now been promoting an active growth strategy, formed out of a combination of internal growth, investments in R&D, selective takeovers as well as collaboration with other orthopaedic companies.
With a view to continuing the growth strategy in the future, Ortec recently decided to strengthen its capital structure. This has led to Ortec taking on Waterland as financial partner. Waterland will provide extra monetary funds to Ortec and, where necessary, give support to Ortec‟s management in the further growth of the company. “The long-term partnership with Waterland gives us extra strength to enable the realisation of our ambitious programme of growth,” explained Daniel Vandeven and Diederik Jacobs.
“The investment in Ortec fits our strategy at Waterland of investing in growing, quality companies in the healthcare sector, companies with the ambition of achieving a leading position in their market,” explained Frank Vlayen, Principal Belgium for Waterland. Waterland has many years experience in the healthcare sector, for example in its participation in Senior Living Group (rest homes and nursing homes), Harting Bank (distribution of rehabilitation aids), Catalpa (childcare), Optima Zorg (home help), Excent (dental laboratories) and Fa-Med (management of medical accounts receivable).