Nexus AG

Nexus provides software solutions for hospital information systems (HIS) and diagnostics software (DIS).



€ 209m

Turnover (2022)


Date of acquisition

Registered office
Donaueschingen, Germany
Business Sector

A leading healthcare software company in Europe.

Investment thesis

Our investment thesis is built on several attractive attributes:

  • A structural growth market across Europe benefitting from megatrends (healthcare, digitalization, local business w/o global supply chain exposure), accelerated by favourable short-to-mid-term subsidy programs (e.g. KHZG in Germany)
  • Nexus has strong market positions in its focus markets (e.g. Switzerland, Germany, Netherlands)
  • Scalable software business model with historically high recurring revenues (>50%), high EBITDA margins (>20%) and a strong cash conversion (>60%)
  • The company is active in a still fragmented market and has a proven and successful M&A track record financed by internal cash generation
  • Particularly strong management which is well-aligned through significant shareholding


  • Appointment of Florian Herger to the Nexus supervisory board