Medical imaging specialist Telemis announces management buy-out.

Telemis, the medical imaging company specialising in PACS (Picture Archiving and Communication System) solutions, announces it has completed a management buy-out from Nivelinvest, Sopartec (UCL) and several private investors. The investors realised a significant financial return on their 14 year investment.

Telemis was created in 1999 as a start-up from advanced university research. It is an international high-tech medical company based in Louvain-la-Neuve, Belgium with offices in Paris, Toulouse, Turin and Luxembourg. Telemis' product line aims to assist hospitals, clinics and private practices to manage digital medical imaging and to eliminate the need for X-ray film, thereby reducing costs and increasing the quality of the care provided.

Telemis worked with Merodis as financial advisors on the management buy-out and restructuring of its shareholding.

As part of the new structure, Stephane Ketelaer will retain his role as CEO for Telemis and his focus for the company will be to drive forward plans for geographic expansion and the company's investment in R&D.

"The management buyout allows Telemis to secure its long-term future financially and to focus on its plans to continue to develop PACS, telemedicine and teleradiology systems for customers worldwide," said Ketelaer.

"We are very grateful to the support given to us over the last 14 years by Nivelinvest, Sopartec and also our private investors. Telemis already has an installed base of nearly 200 hospitals and health institutions in Europe, the Middle East and Africa and would not be in such a strong position now without their investment and support in us."

The management team will include the original investors and founders, Stephane Ketelaer, CEO, Patrice Roulive, COO and Bruno Piscaglia, CTO, as well as investors Pierre Mottet and Georges Walckiers.