In 2008 ARX was introduced to Professor Martin Filipec, the key founder of Lexum, which is the largest chain of ophthalmology clinics in the Czech Republic.  Lexum performs a variety of eye surgeries such as laser refractive procedures, cataract surgeries and vitro-retinal operations.

The company was owned at the time by a small group of individual shareholders who – with the exception of Professor Filipec – had become increasingly passive owners who preferred an immediate exit rather than maintaining a longer-term ownership position. Professor Filipec described his entrepreneurial aspiration to ARX: to solidify and grow Lexum’s leading market position in the Czech Republic, expand into other CEE countries and to maintain an ongoing commitment to provide top-tier medical care for patients.

In early 2009, ARX partnered with Professor Filipec in a transaction that provided the desired full exit for the more passive owners, while also committing follow-on capital for the future expansion of Lexum. ARX was also instrumental in concurrently securing long-term debt financing for the business.

Since the date of the initial ARX investment, Lexum has:

• Identified and executed a complementary add-on acquisition in Poland (acquired by Lexum in early 2010),
• Increased the total number of Lexum clinics in CEE from 3 to 10,
• Grown revenues from € 11 million in 2008 to € 18 million in 2011,
• Solidified its position as the largest eye surgery business in the CEE region,
• Secured a strategic investor (Moonray Healthcare) in December 2012, and
• Continued to provide the highest quality of patient care.

In 2012 Lexum crossed a historic milestone, by completing its 150,000th eye surgery!