ArchiMed, a pan-European private equity-focused healthcare firm, has raised more than half of its target of 800 million euros. MED Platform I will focus on the European mid-cap health sector and invest between 50 million euros and 300 million.
October 29, 2018 – ArchiMed’s new mid-market buy-and-build fund, MED Platform I, has received major commitments from European and North American institutional investors and family offices totaling more than half its €800 million target, after launching fundraising at the end of the second quarter of this year. MED Platform I focuses on the European mid-cap healthcare sector and invests between €50m and €300m in platform companies. Its structure allows for greater investment concentration than is typical among buyout funds, while giving platform companies the resources and flexibility necessary for ambitious, acquisitive growth.
MED Platform I is ArchiMed’s third fund and the group’s first investment vehicle to focus on healthcare’s mid-cap sector, or companies with enterprise values of at least €100 million. The new fund complements the group’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, investing in firms with enterprise values of less than €100 million.
“Europe’s healthcare markets are fragmented, with sub-scale players in most countries,” says AndréMichel Ballester,” an ArchiMed partner. “Across all our funds, we’re now partnering with small and midsize healthcare companies that have the potential to quickly scale up through accelerated internationalization and product expansion, especially through acquisitions.”
ArchiMed also recently completed a dividend recapitalization for MED I portfolio company Polyplus Transfection, a developer of innovative and cost-effective technology used in cell and gene therapy, securing more than four times the group’s 2016 investment. In parallel, MED II purchased majority control of France-based Clean Cells in September, a specialist in safety testing for biopharmaceuticals.
ArchiMed is partnering with Clean Cells’ original founders and its managers to expand and internationalize its product lines.
About ArchiMed – ArchiMed is a healthcare private equity investment firm headquartered in Lyon.
The 30-person team (comprising 10 nationalities) was founded in 2014 by former 3i Healthcare leaders as the first independent, pan-European private equity group focused exclusively on the healthcare sector.
ArchiMed invests in all healthcare sectors, including Medtech, Biopharma, and Care Services. Over the last 30 years, the ArchiMed partners have directly managed and invested in more than 40 healthcare companies throughout the world, with a combined value above €5bn. www.archimed-group.eu