Health Care: financial restructuring of Phibo

, ,
Integral service around a transaction
BY : Diego GutiérrezMay Wed, 2020

Phibowhich is owned by the management company of private equity Nazca Capitalhas agreed with the banks to adjust its financial structure. 

Nazca Capital's entry into the company's shareholder base took place in 2018 with a capital increase 12 million, obtaining a majority stake of 55%.

The García Sabán brothers, founders of Phibo, continue to hold a stake of more than 40% and are on the board of directors of the multinational. 


Phibo founded in 1986, is the leading Spanish company in implantology solutions, CAD-CAM prosthesis manufacturing and integral solutions for the complete digitalisation of the dental sector.

The company sells its products in more than 25 countries and employs 275 workers in two factories, one in Sentmenat del Vallés (Barcelona) and the other in Bogotá (Colombia). In other words, it is a company with a broad international presence, its main markets being Southern Europe, Mexico, Colombia and Chile.

Phibo has always been characterised by its vocation for innovation, with R&D being one of the fundamental pillars of its strategy, which has placed the company at the technological forefront of the sector.


The restructuring agreement implies that both Nazca Capital and the García Sabán family (Phibo's founders) will carry out a capital increase of EUR 2 million. In addition, the banks will provide liquidity lines of €5 million.

The funds raised will help stabilise the company's liabilities, which currently stand at almost EUR 30 million, as well as meet this year's maturities.

The Catalan company already carried out a restructuring in June 2017. Phibo restructured a bank debt of €28 million, after it had been strangled as a result of the impact of the group's crisis. Vitaldentwhich stopped paying all its invoices. Thanks to this operation, the company specialising in implants and prostheses was able to gain momentum and to face the repayment of the debt with greater peace of mind.

▶You may be interested in: Mediquo: App in the Health Care sector

The M&A Professionals

Meet our services



Do you want to be up to date?


Our diferentiation

Market Research Technology
Our team of market analysis specialists is continuously analyzing the investments of the most active markets in the industry in order to unceasingly contribute ideas of the current market situation and identify the most relevant trends for senior management. We integrate the most relevant sources of information which allows us to discover the most interesting companies for venture capital and similarly helps us to identify the investors with the highest probability of involvement in an M&A process to ensure the success of our sell-side operations.

The reports and deductions of our advisors provide a broad view of the sector, both geographically and from the complementary or adjacent markets perspective.
Technology Data Analytics
for M&A
Advanced data anlytics is a weapon". Intelfin is an artificial intelligence tool we use for investing and creating value in SMEs through competitive analytics and the enterprise environment.

IntelFin consists of a cognitive system, which, through the application of advanced analytical technologies, facilitates the automation of investment and financing decisions in the field of non-listed companies and especially SMEs in high-growth sectors.

The information related to these companies is characterized by their lack of transparency and heterogeneity; thus, it is necessary to develop an advanced analysis which is as much predictive as prescriptive and is developed in a natural language custom, suitable to obtain greater clarity and knowledge of the investment scope.

The IntelFin system focuses especially on analyzing the variables that define and influence the competitive environment of a sector and the positioning of a company, analyzing their influence on future value creation. Therefore, IntelFin supports strategic decision-making to senior management by resolving questions such as:

¿What are my competitors' priorities, strategies and expansion plans? Who's my competition? Which competitor is most likely to grow at a higher rate?
Which areas of activity/business models will receive the most investment? Which sectors are most attractive to investors?
Which companies are going to experience the most growth in the near future? Which companies are most likely to receive investment or be acquired?
Training Methodology
We have developed training programs in an innovative set-up which guarantees our teams the acquisition of technical competences both in the field of corporate finance and in the field of psychology, that is much needed when it comes to negotiation processes.

We have a culture of continuous improvement of our processes, closely related to the use of information systems that allow the enhancement of internal communication between our teams, as well as external communication with our customers. Hence, we extend best practices identified internally in an efficient and rapid manner among our members.

Are you one of those who prefer to be well informed when making decisions?