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EQT and Kühne Holding invest in Flix, the global travel company

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EQT Future and Kühne Holding to acquire a 35% stake in FlixInvestment is part of a long-term strategic partnership built on a common vision for Flix’s next phase of profitable growth across new and existing markets and offeringsEQT is investing through EQT Future, its impact-driven, longer-hold fund, and will support Flix’s ambition to expand the offering of sustainable and affordable travel options

STOCKHOLM, July 4, 2024 /PRNewswire/ — Flix SE (“Flix” or the “Company”), the global travel tech company, and EQT, the global investment organisation, together with Kühne Holding, representing one of the world’s leading logistics entrepreneurs and investors, today announce that a definitive agreement has been reached for EQT Future and Kühne Holding to acquire a 35% minority stake in Flix.

In addition to a primary investment in Flix, EQT Future and Kühne Holding will acquire shares from existing shareholders to build a long-term anchor shareholding in Flix. This investment will further strengthen Flix’s balance sheet and help accelerate the Company’s successful trajectory of profitable growth. The closing of the transaction is subject to certain customary conditions and regulatory approvals.

“We are delighted to welcome EQT Future and Kühne Holding as strong and purpose-driven investors with proven track records of building upon sustainable long-term investment strategies. Their capital and know-how will be a strong asset to our company’s overall strategic vision. We couldn’t ask for better partners to embark on the next chapter of Flix’s journey”, commented André Schwämmlein, CEO and Co-Founder of Flix.

“EQT Future backs high-quality, growing companies that have the potential to be sustainability leaders in their fields. Flix is the perfect example of this. We are deeply impressed by what André and his team have built, having developed Flix from a startup into the clear global market leader, operating in 43 countries,” said Andreas Aschenbrenner, Founding Partner and Deputy Head of the EQT Future advisory team. “For us at EQT, it is always about providing more than capital. We are proud to partner with Kühne Holding, one of the leading transportation and logistics investors, and together with André and his team, we are excited to support Flix’s strategic growth agenda over the long-term. We aim to ensure Flix’s low carbon solution to long-distance travel reaches even more people across the world and believe that Flix is on a path to being the category defining player in mass ground transportation, with huge potential to become a household name in the industry and beyond.”

Dominik de Daniel, CEO Kühne Holding AG, commented: “Flix is driving the next generation of collective transport. The Kühne Holding is proud to actively support them as a strategic partner in their next phase of expansion. Over the past few months, we have established a great relationship with the colleagues of EQT Future. We have great confidence in André Schwämmlein and his team and very much look forward to supporting Flix’s future in a beneficial partnership.”

Karl Gernandt, Chairman Kühne Holding AG, added: “As one of the largest strategic investors in the transport and mobility sector, the Kühne Holding is now taking a further step into the market for collective transport by bus. With Flix’s proven asset-light operating model, we see great synergies with our other investments in the transport sector. Furthermore, we want to support the expansion strategy of their international network. We are building on the great successes that Flix has achieved in establishing the bus as the leading sustainable means of transport – for more than a decade in Europe and now also overseas.”

Driving profitable growth

The investment comes at a time of continued significant growth momentum and strategic expansion at Flix. The company reported 30 percent total revenue growth in 2023 and thus, for the first time, reached EUR 2 billion in annual total revenue. This comes at an increased profitability with adjusted EBITDA of EUR 104 million in 2023. The strong momentum enables Flix to deliver on strategic targets such as the expansion of its global footprint, transforming the North American bus market and further scaling FlixTrain to respond to the rising demand for alternative rail services in Germany.

Expanding the global footprint

To further strengthen its geographical presence, Flix has recently entered two of the most important bus markets worldwide: Chile and India. The company’s global footprint now stretches across 43 countries worldwide. With both FlixBus and FlixTrain, the European expansion is moving forward. FlixBus is significantly expanding its services in UK, Portugal and Ukraine and has launched in Norway and Finland. Flix’s clear ambition is to reach market leadership in these markets.

Advancing the North America business

Flix has been operating in the United States since 2018. In 2021, the company acquired Greyhound Lines, an iconic intercity bus service provider, further expanding its reach, including in Canada and Mexico. The transformation and integration of operations into the Flix platform is well underway and increasingly reflected in a growing asset-light share, driving growth and profitability in the market.

With growth comes responsibility

Flix is on a continuous mission to deliver a great travel experience while constantly reviewing the impact of its business. To underpin the Company’s commitment to a responsible business model, Flix recently published its second voluntary ESG report for 2023. With its vision to drive sustainable and affordable travel, Flix aligns strongly with EQT Future’s mission to support market leading businesses which improve our planet through the products and services they deliver, while having the potential to shape their industries.

Contacts

EQT: Press Office, press@eqtpartners.com

Flix: Lara Hesse, globalpress@flixbus.com 

Kühne Holding: Dominique Nadelhofer, Dominique.nadelhofer@kuehne-holding.com 

This information was brought to you by Cision http://news.cision.com

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Clarivate Healthcare Business Insights Unveils 2023 Revenue Cycle Award Winners

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November 13, 2024

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Recognizing Roper St. Francis Healthcare, Bon Secours Mercy Health, and Bronson Methodist Hospital for excellence in Physician and Hospital Groups

LONDON, Nov. 13, 2024 /PRNewswire/ — Clarivate Plc (NYSE:CLVT) a leading global provider of transformative intelligence, announced the 2023 winners of the Clarivate Healthcare Business Insights™ annual Revenue Cycle Awards. Now in its 12th year, the Revenue Cycle Awards recognize U.S.-based healthcare organizations for exceptional performance on revenue cycle KPIs, based on data from their most recent and preceding full fiscal years. The 2023 recipients include Roper St. Francis Healthcare (Physician Group) – SC; Bon Secours Mercy Health (Physician Group) – OH; Bronson Methodist Hospital – MI; and Roper St. Francis Healthcare – SC.

The Clarivate Healthcare Business Insights Revenue Cycle Awards honor healthcare organizations demonstrating excellence in KPIs critical to fiscal health. This year’s winners achieved top decile performance across diverse metrics and implemented forward-looking initiatives to address key challenges in the healthcare landscape.

Brad Cording, Vice President, Product Management, Life Sciences and Healthcare, Clarivate, said: “We are honored to recognize the outstanding achievements of this year’s Revenue Cycle Award recipients, whose commitment to excellence sets a benchmark for the healthcare industry. By demonstrating innovation and resilience in the face of today’s complex challenges, these organizations underscore the importance of effective revenue cycle management in fostering financial health and enhancing patient care. We are proud to support and celebrate their successes within the healthcare community.”

In addition to financial outcomes, recipients were selected based on effective revenue cycle operations, including initial denial percentages across revenue cycle areas that reveal insights into root causes and workflow accuracy. Entrants also highlighted initiatives focused on revenue cycle data analytics, process optimization, and payer management.

While all winners share high-performing revenue cycles, they represent varied segments within the healthcare landscape, as defined by annual net revenue. The 2023 Healthcare Business Insights Revenue Cycle Awards winners are:

Roper St. Francis Healthcare (Physician Group) – 2023 Revenue Cycle Award Winner: $250 Million or Less Net Revenue
  
Roper St. Francis Healthcare is a not-for-profit health system with locations throughout South Carolina. Roper St. Francis Healthcare generated approximately $160 million annual net revenue in 2023 and is a first-time Revenue Cycle Award winner. Ensemble Health Partners manages revenue cycle operations for Roper St. Francis Healthcare.
  
Key achievements:Top decile performance on cash collections as a percentage of net revenue: 108.3%Top decile performance on overall appeal success rate: 98.7%Roper St. Francis Healthcare, through its partnership with Ensemble Health Partners, utilizes various revenue cycle analytics reporting packages and uses proprietary automation and AI software to improve revenue cycle processes and financial outcomes.
  Bon Secours Mercy Health (Physician Group) – 2023 Revenue Cycle Award Winner: $250 Million to $500 Million Net Revenue
  
Bon Secours Mercy Health is a not-for-profit healthcare system based in Cincinnati, Ohio. Bon Secours Mercy Health (Physician Group) generated approximately $333 million annual net revenue in 2023 and is a first-time Revenue Cycle Award winner. Ensemble Health Partners manages revenue cycle operations for Bon Secours Mercy Health (Physician Group).
  
Key achievements:Top decile year-over-year improvement on cash collections as a percentage of net revenue: 13.2% improvementTop decile performance on percentage of dollars initially denied by payers due to coding errors: 1.6%Bon Secours Mercy Health has implemented initiatives to hold payers accountable when performance is not meeting contractual obligations and to address inappropriate claim delays and denials.
  Bronson Methodist Hospital – 2023 Revenue Cycle Award Winner – $500 Million to $1 Billion Net Revenue
  
Bronson Methodist Hospital is regional medical center and children’s hospital in Michigan and is part of Bronson Healthcare. It generated approximately $915 million annual net revenue in 2023 and is a first-time Revenue Cycle Award winner.
  
Key achievements:Top decile year-over-year improvement on initial denials due to patient access errors: 26.8% improvementTop decile year-over-year improvement on initial denials due to coding errors: 6.7% improvementBronson Methodist Hospital has a revenue cycle business analytics department that uses data to help improve performance, implemented an internal staff development program, developed a metric to help identify the impact of payer denials on actual cash yield versus expected, and more.
  Roper St. Francis Healthcare (Hospital Group) – 2023 Revenue Cycle Award Winner: $1 Billion+ Net Revenue
  
Roper St. Francis Healthcare is a not-for-profit health system with locations throughout South Carolina. Roper St. Francis Healthcare generated approximately $160 million annual net revenue in 2023 and is a first-time Revenue Cycle Award winner. Ensemble Health Partners manages revenue cycle operations for Roper St. Francis Healthcare.
  
Key achievements:Top decile year-over-year improvement on net A/R days: 0.4 day improvementTop decile performance on initial denials due to patient access errors: 19.7%Roper St. Francis Healthcare, through its partnership with Ensemble Health Partners, utilizes various revenue cycle analytics reporting packages and uses proprietary automation and AI software to improve revenue cycle processes and financial outcomes. 

Clarivate Healthcare Business Insights proudly partners with over 1,900 hospitals and health systems across the United States, supporting healthcare leaders in optimizing performance, enhancing employee engagement and retention strategies, and navigating an evolving market—all with a focus on putting patients first. Through the Revenue Cycle Awards program, Clarivate Healthcare Business Insights not only highlights the achievements reflected in the metrics but also showcases the initiatives behind them with exclusive content, fostering connections between leaders from award-winning organizations and the broader healthcare community.

To learn more about Clarivate Healthcare Business Insights, visit www.clarivate.com/products/healthcare-business-insights/.

About Clarivate
Clarivate™ is a leading global provider of transformative intelligence. We offer enriched data, insights & analytics, workflow solutions and expert services in the areas of Academia & Government, Intellectual Property and Life Sciences & Healthcare. For more information, please visit www.clarivate.com.

Media Contact 
Catherine Daniel
Director, External Communications, Life Sciences & Healthcare
newsroom@clarivate.com

 

SOURCE Clarivate Plc

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Despite 100% of Businesses Preparing for EU CSRD Compliance, EcoOnline Research Finds 63% of Mid-Market Organisations Struggling with Readiness

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November 13, 2024

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Businesses committed to going beyond compliance to integrate sustainability into operations, increase budgets and drive performance improvement.

LONDON, Nov. 13, 2024 /PRNewswire/ — EcoOnline, a leading SaaS provider of safety and sustainability solutions, today launches its 2024 EU CSRD Readiness Report 2024. The report explores how EU Corporate Sustainability Reporting Directive (CSRD) regulations are perceived by mid-market and enterprise businesses, the challenges faced in implementation, and the processes and technologies employed to achieve goals.

Mid-market companies at risk of being underprepared

Although 100% of survey respondents have begun preparing for EU CSRD compliance, enterprise organisations (those with over €1B in annual revenue) are further along in their readiness than their mid-market peers. While 60% of enterprise organisations are ‘almost ready’ and have the right tools and solutions in place, only 37% of mid-market businesses said the same, and risk being ‘left behind’ as a result.

Though mid-market businesses have slightly longer to prepare, these organisations need more support with scaling EU CSRD efforts. Top areas cited by mid-market respondents for further support were 1) data collection, 2) greenhouse gas (GHG) accounting, and 3) drafting EU CSRD report outputs, indicating a lack of confidence in tools and processes.

On the road to readiness

Over half of those surveyed are focusing on double materiality assessments as a vital compliance step to identify areas for resource investment. However, EcoOnline’s SVP ESG & Sustainability, David Picton comments: “As organisations navigate sustainability’s dynamic landscape, it’s encouraging to see them focusing on double materiality, but these assessments alone are just the first step in fulfilling complex compliance needs. To meet the EU CSRD deadlines, companies need to act quickly to optimise data collection and report drafting.”

Organisations are also tackling CSRD preparedness by:

Sustainability being led from the top: The majority (89%) of organisations have senior leadership roles focused on sustainability strategy, with finance, EHS, and operations also involved to meet EU CSRD requirements.Seeking external expertise: 63% of respondents are looking to consultancy support for data collection and reporting to achieve CSRD readiness.Leveraging technology such as SaaS: 94% plan to adopt third-party software for reporting, and 76% are implementing tools for data collection, highlighting that businesses see the value of harnessing both SaaS (software as a service) and external expertise as a key part in achieving compliance.Increasing sustainability spending: 95% plan to boost sustainability investments over the next two years, with focus areas including tools, consulting, staffing, training, and research. Mid-market companies are looking to close the gap on their readiness, with 32% planning to increase spending in the next 12 months, compared to 19% of enterprise respondents.

Thinking beyond compliance

The report found an overwhelming majority of respondents (66% of enterprise and 89% of mid-market) believe the directive will drive meaningful sustainability integration within their operations over the next 3–5 years. In fact, many companies in Europe are already implementing voluntary reporting frameworks beyond mandatory reporting, like the Science Based Targets Initiative (93%), Global Reporting Initiative (99%), or Carbon Disclosure Project (100%).

David Picton also notes, “It is no longer enough to be ‘compliant’ – now businesses must be proactive and broad-minded about investing in long-term, sustainable, ethical operations to drive meaningful impact. The EU CSRD is a good starting point for this behaviour change, but to achieve lasting benefits and competitive advantage, organisations must view sustainability as fundamental to driving revenue, profit, and business growth.”

Need help with your EU CSRD compliance and reporting? Download the 2024 EU CSRD Readiness Report for key insights, attend David Picton’s ‘Top 5 Insights’ webinar on December 4th or learn more about EcoOnline’s CSRD Assessment solution.

Methodology
The 2024 EU CSRD Readiness Survey engaged executives, VPs, and directors in ESG, sustainability, finance, operations, EHS, and strategy across companies in Denmark, Finland, France, Germany, Iceland, Ireland, Italy, Norway, Sweden, and the UK.

The respondents represent a sample of over 50,000 companies subject to the EU CSRD, covering firms across various revenue bands, from small and mid-market companies (€10M–€1B in annual revenues) to large enterprise organisations (over €1B in annual revenues). This sample provided a 95% confidence level with a 10% margin of error.

About EcoOnline
EcoOnline delivers innovative environment, health and safety (EHS), chemical management and ESG and sustainability technology solutions to forward-thinking leaders. Founded in 2000 and trusted by over 10,000 brands worldwide, EcoOnline’s connected suite of SaaS software enables businesses to protect their people and the planet by ensuring compliance, mitigating risk and streamlining operations. Backed by an unwavering commitment to customer success, EcoOnline’s software is powerful yet simple to use – built on decades of real-world expertise, data and insights.

Visit ecoonline.com to immediately and positively impact your workplace safety and sustainability. 

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On-us Wraps Up FinTech Festival Tour with Visa, Poised for Strategic Expansion and Future Innovations

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18 minutes ago

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November 13, 2024

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HONG KONG and SINGAPORE and TAIPEI, Nov. 13, 2024 /PRNewswire/ — On-us is excited to announce the incredible success of its appearances at three of Asia’s most prestigious FinTech events: Hong Kong FinTech Week, Taiwan FinTech Week, and the Singapore FinTech Festival 2024 with its diverse roles as both exhibitor and speaker, reinforcing its voices in the FinTech landscape.

On-us Smart E-voucher transforms non-cashback benefits for Visa and businesses in a robust manner, significantly enhancing the cardholder experience across payment, selection, and reward recommendations—powered by On-us’ platform and AI. It drastically reduces staff training time, shortens the merchant onboarding process, and enables real-time B2B payment settlement for merchants. The solution redefines digital incentives and sets new standards in reward-based marketing. Showcasing the groundbreaking solution to over 100,000 participants, On-us received enthusiastic interest from card schemes and credit card teams across the Banking, Financial Services, and Insurance (BFSI) sector.

With a strategic focus on two emerging market opportunities—card schemes and exhibitions—On-us is poised to unlock a “blue ocean” for growth, forging new pathways in the loyalty space and empowering brands to deepen customer connections through smarter, data-driven incentives. Looking forward, On-us is excited to expand its reach within the Meetings, Incentives, Conferences, and Exhibitions (MICE) industry. Through its seamless, data-driven FinTech solution, On-us helps exhibitors boost foot traffic, onboard merchants, and rapidly enhance attendee engagement, unlocking unique values and new revenue streams in a short time.

Dennis Shi, Founder and CEO of On-us, remarked, “This collaboration with Visa is a milestone for On-us as we scale our vision globally, bringing cross-border incentive solutions to businesses around the world. We’re grateful for our partners including Visa Accelerator Program, Hong Kong Science and Technology Park, Cyberport Hong Kong, and FinTech Space Taiwan for their invaluable support throughout the journey, and welcome businesses to explore how our versatile solutions can unlock unprecedented opportunities for client success.”

Building on this momentum, On-us is excited to launch new features and deepen its strategic collaboration with Visa, that aimed at further enhancing customer loyalty and engagement, setting new and transformative benchmarks for digital incentives worldwide.

About On-us

On-us is a global B2B2C personalized e-voucher incentive platform leveraging FinTech and behavioral AI, designed to enhance consumer loyalty engagement and unlock maximum value for marketers, merchants and customers. Through omni-channel APIs and data-driven campaigns, we empower businesses to strengthen customer engagement while maximizing ROI. Trusted by financial services providers, people management teams, blue-chip property developers, non-profit organizations, and SMEs, our platform delivers sustainable sales growth and seamless integration, driving success across industries.

For more information, please visit: https://www.on-us.com/about or follow our Linkedin for latest updates.

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SOURCE On-us Company Limited

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