LADR – LABORATORY GROUP DR. KRAMER & COLLEAGUES acquired by SONIC HEALTHCARE

Clariane sells its French home hospitalization business to the leader of the sector in France, Fondation Sante Service. The deal is part of Clariane's EUR1bn asset disposal plan to strengthen its balance sheet.

Eurofins Scientific has completed the acquisition of 100% of SYNLAB’s clinical diagnostics operations in Spain. The transaction, initially agreed upon in October 2024, was finalized on March 31, 2025. This strategic carve-out allows SYNLAB to optimize its portfolio by exiting the Spanish market to focus on regions with higher strategic impact. For Eurofins, the acquisition is transformative, merging SYNLAB’s assets with its existing Eurofins Megalab network to become the undisputed leader in clinical diagnostics in Spain

The transaction involves a primary Owner Buy-Out (OBO) where Capza and Bpifrance acquire a minority stake in Imdev to support its next phase of pan-European scaling. This capital injection includes a significant capital increase and a cash-out component for historical shareholders. The strategic rationale is centered on accelerating a nationwide build-up strategy, with a target of 15 to 30 additional acquisitions per year to double the group's size. Financially, the deal is supported by a unitranche debt facility provided by ICG, which was restructured to accommodate the group's new growth ambitions

Bridgepoint divested its entire stake in Care UK to Welltower, a US healthcare REIT, marking the conclusion of approximately 14 years of private equity ownership. Bridgepoint had originally acquired Care UK in 2010 and had previously attempted an unsuccessful sale process, incurring £2.5 million in abortive advisory costs as disclosed in its 2019 accounts. The deal excludes Practice Plus Group, which was carved out by Bridgepoint in 2019 and remains under its ownership. Bridgepoint was advised by Barclays (corporate finance), Allen & Overy (legal), and EY (financial and tax)

Groupe Imagerie Cardinet acquired 100% of Radiologie Paris Ouest from its previous majority shareholder, Azulis Capital, which had held a stake since 2019. The transaction was financed with the support of Andera Acto (Andera Partners' sponsorless/mezzanine arm), which had already invested in Cardinet in 2023. A critical feature of the deal is the significant reinvestment by RPO's 20 radiologist-associates, who rolled over more than 50% of their proceeds into the combined holding company. This merger creates a major regional champion in the Ile-de-France area, with a combined pool of over 60 partner-physicians and a dense network of centers across Paris and its western and eastern suburbs

Qualium Investissement is acquiring a 25% minority stake in IMPC from its associate radiologists. This primary LBO transaction follows a strategic period of reflection during which the founding doctors chose to maintain operational and capital control of their group rather than pursuing a majority sale. The operation is designed to provide the necessary capital to fund a targeted external growth strategy, particularly in the Paris region, while offering a medical-led alternative to the broader consolidation of the imaging market

Montefiore Investment acquired a majority stake in Demenego from Vam Investments. This secondary LBO follows a highly successful four-year period of ownership by the seller, during which the company more than doubled its revenue and expanded its retail network from 15 to 39 stores. The new partnership is designed to build on this solid foundation, with a strategic focus on further transforming the eyewear specialist into a national leader through innovation and omnichannel development. The investment strategy emphasizes continued significant investment in digitalization, customization technology, and the expansion of the "Demenego Labs" concept

Ardian Expansion acquired a majority stake in Vista Vision from its founders and Credem Private Equity. The transaction marks a new strategic phase for the group, following a period of rapid expansion where revenues tripled under Credem's tenure. The founders reinvested significantly alongside Ardian to remain minority shareholders and lead the next growth cycle. The strategic roadmap focuses on aggressive buy-and-build activity in the highly fragmented Italian market—with eight acquisitions already in the pipeline—and international expansion across Romania and other European countries

Orlando Health signed a definitive agreement to acquire Tenet Healthcare's majority interest in Baptist Health, the faith-based integrated health system operating across Central Alabama. Upon closing, Orlando Health will become the majority and managing partner of Baptist Health, assuming day-to-day operational management of the system in partnership with Baptist Health System, which retains its minority stake and continues to anchor the organisation's faith-based mission. At the time of the transaction, the system comprised five hospitals across Central Alabama with more than 1,700 beds, over 70 primary and specialty care clinics, approximately 1,500 affiliated physicians, and more than 7,300 employees

L-GAM, CAPZA, IDIA Capital Investissement, and Bpifrance are acquiring a minority stake in PSV Group from its associate physicians. The transaction allows for the entry of a consortium of minority financial partners while ensuring that the associate doctors, who remain majority shareholders, retain full operational and strategic control of the group. This strategic partnership is designed to provide the financial resources and complementary expertise required to support an ambitious new development phase