SHS Capital has agreed to invest in a leading German Endoscopy Group comprised of EMOS Technology, InnoView, ILO electronic, and Micon to enhance growth and succession planning.

Target Information

On December 17, 2025, SHS Capital, through its SHS VI fund, entered into a binding agreement to invest in a prominent German Endoscopy Group, which includes EMOS Technology, InnoView, ILO electronic, and Micon. This consortium stands out as one of the few European manufacturers specializing in endoscopy systems, boasting in-house development capabilities and a high degree of vertical integration. The Endoscopy Group provides a diverse and innovative product portfolio that features reusable rigid, semi-flexible, and flexible endoscopes, along with camera systems, light sources, and insufflators, catering to the increasing global demand for minimally invasive medical procedures.

The group has experienced significant growth in recent years, successfully launching new and innovative products annually. Its primary customer base consists of international original equipment manufacturers (OEMs) and distributors, positioning it favorably within the medical technology landscape. This investment not only enables a succession plan for the current owner, Frank Spillner, but also aims to reinforce the group’s growth trajectory by unlocking further potential in both the OEM and distribution sectors.

Industry Overview

The German medical technology industry is renowned for its innovation and quality, with a strong focus on research and development. Germany is among the top players in the global healthcare market, characterized by a mature structure and a well-establishe