ArchiMed has raised $1.2 billion for its new mid-market buy-and-build fund MED Platform I. The fund’s limited partners include institutional investors and family offices in both Europe and North America. Triago was the placement agent.
ArchiMed raises €1 billion for its MED Platform I fund
The oversubscribed fund closed above the global private equity healthcare specialist’s €800 million target, notwithstanding the impact of the Covid-19 pandemic.
ArchiMed’s €1 billion ($1.2 billion) mid-market buy-and-build fund, MED Platform I, attracted major commitments from a broad range of institutional investors and family offices in both Europe (70 percent) and North America (30 percent).
MED Platform I partners with growth companies in the European and North American mid-cap healthcare sectors, buying majority stakes for €50 million to €500 million in association with existing owners and managers. MED Platform I provides companies with the strategic, tactical and financial resources they need to broaden product lines and expand into new regions.
“With MED Platform I, we’re partnering with innovative category leaders with the ambition to become national and international consolidators through mergers and acquisitions,” says Denis Ribon, Chairman of ArchiMed. “As with our other funds, MED Platform I empowers talented management teams to take their companies to the major leagues.”
“ArchiMed has the expertise and the financial power to help both small and mid-sized companies scale up at speed,” adds André-Michel Ballester, Managing Partner of the MED Platform I fund. “We not only provide finance – we help in every aspect of expansion. Most of our investment professionals have medical backgrounds or operational backgrounds in healthcare, so we share a common language and culture with our partners.”
MED Platform I is ArchiMed’s third fund since the firm’s founding in 2014 and it is the group’s first investment vehicle to focus on healthcare’s mid-cap sector. The new fund complements ArchiMed’s MED I and MED II vehicles, which respectively raised €146 million in 2014 and €315 million in 2017. MED I and MED II focus on smaller European healthcare companies. With a cash-on-cash return equal to more than five times the value of invested capital, the fully invested MED I is the top performing buyout fund on a global level for the 2014 vintage (i.e. for funds raised in 2014).
Since it began investing in mid-2019, MED Platform I has acquired two platform companies: BOMI Group, a specialist in complex healthcare logistics and Direct Healthcare Group, a fully integrated manufacturer of innovative pressure care products. Multiple buy-and-build acquisitions by both of these firms have already been completed. MED Platform I expects to announce a third major platform investment shortly.
Triago acted as placement agent for MED Platform I, as it did for the MED I and MED II funds.
About ArchiMed – www.archimed-group.eu
ArchiMed is an independent investment firm specialized in the Healthcare industries. It is a strategic and financial partner to European and North American companies operating in the Biopharma, Medtech, Diagnostics, Life Sciences, Healthcare IT, Consumer Health, Public Safety and Care Services sectors. ArchiMed’s international team combines investment, medical, technological and operational experience. It works alongside management teams to accelerate their business growth through internationalization, product and service range expansion and capacity extension, both organically and through acquisitions. Over the last 20 years, ArchiMed’s leadership team directly managed and invested in over 40 small, medium and large-size healthcare companies throughout the world, with a combined value above €5 billion. ArchiMed has over €1.7 billion (over $2 billion) under management. Its investment capacity currently exceeds €1 billion and rises to twice this amount when including its strategic investment partners.