Belgium’s Vendis Capital plans to acquire the Dutch Obesity Clinic, expanding its healthcare portfolio after previous cosmetic clinic deals.
Brussels-based private equity firm Vendis Capital is set to acquire the Dutch Obesity Clinic (NOK), which operates 11 locations across the Netherlands. The clinics treat patients with severe obesity through gastric reduction surgery and GLP1-agonist medications such as Ozempic and Wegovy. In 2024, NOK treated approximately 9,000 patients.
The transaction would see Vendis buy out US medical technology group Medtronic, NOK’s owner for over a decade, and acquire part of the stake held by founder Kobus Dijkhorst. No purchase price has been disclosed. Vendis has filed for approval with the Dutch competition authorities.
The acquisition will be made through Vendis Capital IV, the firm’s latest fund, which raised €525 million from wealthy families and institutional investors in 2024 and 2025. The deal follows Vendis’ 2024 investments in cosmetic clinic chains SOAP and BM Clinics, active in beauty and skin treatments including Botox and fillers.
Founded by former management of retail holding Mitiska, Vendis Capital specialises in consumer brands and retail chains. While its first fund was primarily backed by Belgian business families, including the Colruyt family, its more recent funds have attracted a growing number of international investors. Earlier this year, French fund Armen acquired a minority stake in Vendis.
