About Foto finder
The family-run business with headquarters in Bad Birnbach (Bavaria), Germany, has been developing medical imaging systems since 1991. It is specialized in skin imaging for early skin cancer detection by means of Automated Total Body Mapping (ATBM), Artificial Intelligence (AI) and digital dermoscopy, as well as in trichoscopy, psoriasis documentation and imaging in aesthetics. In addition, FotoFinder systems are used in clinical dermatology and clinical research. Subsidiaries in Italy, UK and the U.S., as well as a global partner network support the company’s worldwide presence, serving clients in more than 90 countries.
Co-Founder and main shareholder Rudolf Mayer withdraws from his shareholding position and entrusts the future success of FotoFinder to co-founder Andreas Mayer, further Mayer family members as well as selected management team members. All of the latter reinvest a significant portion of their proceeds or become new shareholders.
European private equity firm EMZ Partners has entered into a binding agreement to acquire a majority stake in FotoFinder, headquartered in Bad Birnbach, Germany. Founder of the Company, Rudolf Mayer, who together with his son and co-founder Andreas drove the successful development of the firm and formed FotoFinder into the leading and pacesetting brand in technology for early skin cancer detection, will fully withdraw from his role as managing director and shareholder.
However, the significant (re-) investment of all other existing family shareholders as well as broader management team member, clearly underlines the promising outlook of the company and firm belief in future success.
Founded in 1991, FotoFinder offers products and services to dermatologists, dermatology clinics, hospitals, screening centers and research institutes. The solutions sold combine proprietary AI-based software with industry-leading Automated Total Body Mapping capabilities as well as video dermoscopy devices, forming integrated system solutions for skin imaging. The company fosters close collaborations with universities and opinion leaders in dermatology, and, through its FotoFinder Online Academy, enjoys access to a global network of dermatologists, supplemented by a service portfolio including maintenance, trainings and second opinion services.
Although FotoFinder has its core market in Germany and the DACH region, the firm is globally active with more than 70% of sales achieved abroad and within 90 countries. Products and services are sold directly, through subsidiaries as well as through a global network of distributors and agents.
Fueled by globally increasing skin cancer awareness, FotoFinder is pursuing attractive growth options in highly regulated regional med-tech markets such as further international expansion, stronger focus on high-end technology and higher-value solutions (ATBM Master), company’s own AI-supported technology and consistent cultivation of the adjacent healthcare aesthetics and beauty market.
”We have been very impressed by the journey of FotoFinder over the recent years to its current market-leading position, and how this successful development has been driven by the Mayer family and the management team. As pioneer in skin imaging and highly reputed brand that has become the “gold standard” par excellence in technology for early skin cancer detection, FotoFinder is now in a unique position to fully exploit its future growth potential. We are very much looking forward to pooling our expertise and successfully reaching the next level of the company together“, says Klaus Maurer, Managing Partner, EMZ.
Andreas Mayer, CEO of FotoFinder, adds: ”We are very proud of what we as FotoFinder family have achieved to date, but we are also aware of the future opportunities and challenges. Together with EMZ Partners as new partner, we can further expand our offering and capabilities to access markets beyond our current reach. We are delighted to having found a partner who shares our vision and supports our strategic initiatives. We continue to provide the highest standards with innovative solutions to become an even more trusted, strong and competent partner for our customers, while maintaining the FotoFinder spirit of a family-run company. In addition, I would like to express my sincere gratitude to my father Rudolf Mayer in particular, who as co-founder and managing director for many years has been instrumental in driving and shaping the successful development of FotoFinder. I’m convinced that we as a team can still rely on his experience and outside-in guidance going forward.”
Completion is expected to take place in Q2 2022 and the terms of the transaction were not disclosed.
EMZ was advised by Cowen Europe (M&A & Debt Advisory), Lupp + Partner (Legal, Corporate), Roland Berger (Commercial), Ebner Stolz (Financial & Tax), Taxess (tax structuring) and Shearman & Sterling (Legal, Finance).,.
FotoFinder and its selling shareholders were advised by Aquin (M&A) and Mc Dermott Will & Emery (Legal).
