Our work

Vardis Continues to Support Davaso & Montagu

Vardis Proud To Support Montagu In Appointing Stefan Middendorf As The New CEO


Stefan Middendorf, the new CEO, was previously Managing Director, Böllhoff GmbH.

Previously, he was a member of the management board of the Böllhoff Group and Chairman of the Management Board of BITMARCK Holding GmbH. The group is the largest IT service provider for statutory health insurance in Germany.His main task was to quickly and efficiently implement the post-merger integration of the newly formed spin-offs and to secure and expand the market position. In his position as Chief Sales & Marketing Officer of TNT Post AG & Co. KG, a joint venture of the Dutch TNT NV and the Hermes Logistik Group, he was able to significantly contribute to significant growth and profitability in a newly emerging market by attracting key customers.

Headquartered in Leipzig, DAVASO is a leading service and technology provider in verification and billing audits for statutory health insurance funds, pharmacies and other care providers as well as structured health management processes. Established in 1990 and based in Leipzig, DAVASO is Germany’s largest provider of tech-enabled claims processing, invoice auditing and billing preparation services for statutory health insurers. Its market leading software solutions are used internally as well as by other service providers to automate respective processes. DAVASO provides services to more than 100 statutory health insurers, handling 140m cases annually with a volume of approx. €18bn. The business operates in a stable and growing market driven by ageing population, increasing spend per capita and further outsourcing by statutory health insurers.

In 2017, Montagu Private Equity acquired a majority interest in DAVASO from Bregal Unternehmerkapital.

Montagu is a European-focused private equity firm specializing in leveraged management buyouts in middle market companies headquartered in Northern Europe.  The firm has been investing in European businesses for nearly 50 years.

When investing in a firm Montagu supports the strategic vision of an incumbent management team, and challenges them to realise their full potential.  The firm’s partnership with management is built on a shared vision of how the company's value can be maximised.  Montagu works with management to develop that vision and will provide the support needed to realise it - financial, strategic or operational.

Related Articles

Our global offices