by Ana Toral, MergerMarket

Grupo Inexoos, a Chilean holding company focused on technology solutions for the education and healthcare industries, plans to expand its footprint in Latin America through acquisitions, CEO David Fuller said.

Desirable targets for the 15-year-old holding company would include providers of education and healthcare technologies in Chile, Colombia, Peru and Mexico, Fuller said. Targets of interest should be well managed and have an interesting client base, he added.

Inexoos has already held meetings with a potential target in Chile and plans to close a deal in the next 12 months. In the meantime, it remains receptive to overtures from players shopping themselves and sellside M&A advisors, the CEO said.

The holding company, which generates USD 20m in annual revenues, works with the Chilean legal rms Elton y Cia and Montt Group, Fuller said.

Inexoos has already relied on M&A to accelerate its expansion. In 2015, it acquired Santiago-based provider of school assessment software Mateonet. One year later, it bought Medipass, a Santiago- based supplier of digital payment solutions for healthcare companies. And in 2018, it secured a majority stake in CNT, a Bogota-based provider of health information systems, the CEO noted.

It also owns two other subsidiaries: school management and pedagogic platform Napsis, and Nusystem, an IT provider of resource management systems for large corporations, the CEO noted.

Inexoos serves more than 1,100 customers. Half of its revenues come from its education technology solutions, 40% from its health tech arm and 10% from Nusystem, Fuller said.

Grupo Inexoos seeks acquisitions to expand education and health tech solutions in Latin America, CEO says. The holding company has a physical presence in Chile, Colombia and Peru, and plans to venture into Mexico within the next 12 months. It also plans to sell its education technology solutions to clients in Brazil, Ecuador, Guatemala and Nicaragua through local distributors, the CEO noted.

Inexoos saw the demand for its health tech solutions jump by 50% in 1H20 against the same period last year due to the COVID-19 pandemic, the CEO noted.

Demand for its education tech solutions has also increased, Fuller said, adding that Inexoos launched an online platform last month, that helps teachers measure the learning performance of their students. The solution is currently being used in 50 Chilean schools, he noted.

Inexoos was founded in 2005 by Fuller, who owns 65% of the business. The remaining 35% is held by his brother and director Jorge Fuller, the CEO noted. The holding company does not plan to cede equity at this time, but could reevaluate this alternative further down the road, Fuller said.