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GIMV sells majority stake in Oldelft to Smile Invest

GIMV NV sold its majority stake in medical diagnostics company Oldelft BV to fellow Belgian private equity firm Smile Invest NV in a management buyout deal.

Oldelft's management team will reinvest in the company, alongside Smile Invest, the latter said in a release.

Netherlands-based Oldelft manufactures ultrasound instruments used in the adult, pediatric and neonatal cardio markets for diagnosis and heart monitoring.