MYDENTIST acquired by BRIDGEPOINT

The Paris-based radiology group with approximately EUR80 million in revenue, backed since 2019 by UI Investissement, has just concluded a second LBO under the impetus of Metric Capital Partners, which would value it between EUR350 million and EUR400 million, according to our information, a little over a year after the abandonment of its takeover by Antin IP.

Groupe Resonance Imagerie, a french medical imaging group supported by Andera Partners for the past three years, is pursuing its geographical consolidation strategy by acquiring the Parisian company Cimep, which brings it 12 centers and nearly EUR20 million in additional revenue. The organization operates as a high-fidelity practitioner-led platform, focusing on the seamless integration of radiology expertise with advanced medical imaging technologies. Rather than focusing solely on basic diagnostics, the firm thrives on a philosophy of technical operational depth, managing a distributed network of centers that provide high-capacity scanning, MRI, and ultrasound services. Its value proposition centers on maintaining a strong medical project led by senior practitioners, ensuring high clinical standards for patients in the Val-de-Marne and Seine-Saint-Denis areas.

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 combined entity now possesses a workforce of over 2,000 employees and the capacity to serve more than 10 million patients annually, processing over 100 million tests. The strategic rationale centers on total geographic coverage of Spain and enhanced capabilities in specialized testing such as genetics. The deal was integrated without significant restructuring due to the complementary nature of the laboratory footprints.

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. This platform investment highlights the ongoing institutionalization of the French medical imaging market, where specialized financial sponsors provide the dry powder necessary for heavy equipment modernization and digital transformation, particularly in AI and tele-radiology.

Sonic Healthcare has signed binding agreements to acquire the LADR Laboratory Group, marking a substantial expansion of its German and European diagnostic footprint. The transaction was structured on a cash and debt-free basis, with a total consideration satisfied through a mix of Sonic ordinary shares (up to 222 million euros) and cash funded from existing facilities. The strategic rationale centers on the strong cultural and operational alignment between the two organizations, with significant synergy potential identified in procurement, laboratory overlaps, logistics, and equipment maintenance. The deal also includes an inherited put/call structure for a separate German laboratory business, expected to be fully consolidated by 2027. Following the acquisition, the target's senior leadership, including the CEO and Medical Director, will remain with the group to lead the integration collaboratively with the acquirer’s German division.

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.

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).

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. The CEO and management team remain in place to execute this next phase of growth, aiming to capitalize on the firm's reputation for visual healthcare and rapid production capabilities. The transaction highlights the group's position as a high-margin, specialized retail platform in a consolidating European market.

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. A significant portion of the deal structure involves doubling the number of associates to integrate a new generation of radiologists into the group's governance. The transaction is supported by a senior debt facility that includes a substantial capital expenditure line for future acquisitions aimed at reinforcing the group's medical specialties. This partnership emphasizes long-term independence and professional excellence in a rapidly evolving regulatory and financial environment for medical practices.