HL guides MM´s acquisition of a stake in Ubikare

Hogan Lovells has advised Mutua Madrileña on its acquisition of a 16% stake in Ubikare, entering into the elderly care business

Ubikare is a start-up based in the Basque Country that offers a comprehensive personalised health and home care service for the elderly, with a strong focus on the patient and supported by its own digital tool.

Ubikare is focused on comprehensive and complete care for the elderly, with health and care services adapted throughout the patient’s life cycle. The firm stands out for its patient-centred approach through the digitisation of healthcare processes and advanced data processing. It has a team of healthcare professionals that seeks to give added value to the health and home care of the elderly, where its team of nurses, nursing assistants, carers, neuropsychologists, physical educators and therapists provide a service adapted to the needs of each person, being the first and only company in Spain to provide this service.

With this transaction, the Mutua Group, chaired by Ignacio Garralda, continues to make progress in its diversification strategy and in one of the key projects of its 2021-2023 Strategic Plan: to expand Mutua Madrileña’s position as a provider of health services, a segment in which it is already a leader in insurance through Adeslas, a company integrated in its business group and owned by Caixabank.

Following its entry into Ubikare, Mutua will participate in and support the expansion of the company’s business and its geographical diversification.

According to MM, “care for the elderly at home is a vital need that all families have at some point in their lives and which must be met with service excellence. Its importance has recently been further highlighted by the coronavirus pandemic. Ubikare presents a comprehensive and differential service offer due to its focus on quality and added value, an ambitious business plan to bring its value proposition to more people, with a good growth perspective and a scalable service model.”

Mutua will support the company in its development by incorporating two directors to Ubikare’s Board of Directors, who will bring their experience and skills to the management team and contribute to its scaling process.

Hogan Lovells advised Mutua Madrileña on this deal with a Madrid office Corporate M&A team led by partner Lucas Osorio (pictured left) and with the participation of associate Hugo Muñoz (pictured right).