MERIEUX EQUITY PARTNERS takes majority stake in THERAVIA
Context
Healthcare-focused investment firm Mérieux Equity Partners has completed the strategic merger of two of its existing portfolio companies, Addmedica and Laboratoires CTRS, creating a new consolidated entity named Theravia Pharma. As part of this corporate combination, the sponsor—which already held existing stakes in both businesses—elected to significantly increase its overall equity position. Mérieux EP rolled over its historical shares and convertible bonds while simultaneously acquiring additional equity, notably buying out the exiting founders of Addmedica. This move enabled the fund to step up its ownership and secure a majority controlling stake of approximately 70% in the newly formed group. The equity enhancement and the refinancing of existing credit facilities were supported by the successful raising of new senior debt.
THERAVIA, which reported an EBITDA margin of in 2022, is valued in this transaction at an EV/EBITDA multiple of , to compare with the average currently observed in the Healthcare & Pharma sector (14.3x).
-> Deep-dive in Healthcare & Pharma market trends
Target
Theravia is an international pharmaceutical laboratory specializing in rare and neglected diseases, formed in 2022 following the merger of Addmedica and CTRS, with the aim of addressing the unmet medical needs of patients suffering from these complex conditions. The company has notably developed treatments such as Orphacol for congenital defects in primary bile acid synthesis and Siklos for sickle cell disease, a hereditary disorder affecting red blood cells. Theravia has a commercial presence in several countries, including 17 for Siklos and 23 for Orphacol, and generates nearly half of its revenue internationally, demonstrating its growth potential and strategic positioning in the field of rare diseases.
Ent. Value
Equity Value
Multiples
EV / Revenue
EV / EBITDA
EV / EBIT
Historical Financials (EUR)
Other operations with THERAVIA
Other operations with THERAVIA
| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 04/2025 | NORGINE | THERAVIA | FRANCE | Generics / Labs |
Similar deals in Life Sciences
| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 10/2022 | STANLEY CAPITAL PARTNERS | LABORATOIRE X.O | FRANCE | Generics / Labs |
| 08/2022 | CATALENT | METRICS CONTRACT SERVICES | UNITED STATES | CDMO |
| 07/2022 | TPG | DOC GENERICI | ITALY | Generics / Labs |
| 06/2022 | UI INVESTISSEMENT / GENEO | NEFTYS PHARMA | FRANCE | Animal Health |
| 05/2022 | GOLDMAN SACHS | NORGINE | NETHERLANDS | Generics / Labs |
| 05/2022 | ASTORG | CORDENPHARMA | SWITZERLAND | CDMO |
| 03/2022 | FRESENIUS | MABXIENCE | SPAIN | CDMO |
| 03/2022 | FRESENIUS | IVENIX | UNITED STATES | Diagnostic Equipment |
| 02/2022 | MONTAGU PRIVATE EQUITY / PARTNERS GROUP | HTL BIOTECHNOLOGY | FRANCE | CDMO |
| 01/2022 | ANJAC BEAUTY & HEALTH | APOLLO HEALTHCARE CORP. | CANADA | CDMO |
Other operations with MERIEUX EQUITY PARTNERS
| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 02/2026 | MERIEUX EQUITY PARTNERS | HEALTH IN CODE (HIC) | SPAIN | Labs (Biology) |
REFERENCES
Revenue range: €25–50M
Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of THERAVIA by MERIEUX EQUITY PARTNERS are reserved for mynth community members. Register for free to unlock full data.
Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.
Target: theravia
Acquirer: merieux equity partners