NOVESCIA acquired by CERBA HEALTHCARE
Context
Cerba acquired 100% of Novescia. The seller was a complex consortium managed by Ekkio Capital, including financial investors Cobepa and Socadif, as well as biologist shareholders. This acquisition allowed Cerba to reach critical mass in the routine segment, complementing its leadership in specialty testing.
NOVESCIA, which reported an EBITDA margin of [members only] in 2014, is valued in this transaction at an EV/EBITDA multiple of 10x–18x, representing a discount to the average currently observed in the Healthcare & Pharma sector (14.3x).
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Target
Created from scratch in 2007 by Ekkio Capital, Novescia grew to become a major network of medical analysis laboratories in France. Unlike specialized labs, Novescia focused on "routine biology" (direct patient access) and clinic servicing (having acquired the biology division of Generale de Sante). At the time of the sale, the group operated approximately 100 laboratories organized around three main technical plateaus (Wissous, Lyon, Toulouse).
Ent. Value
€300–700M
Equity Value
[members only]
Multiples
EV / Revenue
1x–3x
EV / EBITDA
10x–18x
EV / EBIT
[members only]
Historical Financials (EUR)
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REFERENCES
Valuation range: EV €300–700M
Revenue range: €100–200M
EBITDA range: €10–30M
EV/Revenue range: 1x - 3x
EV/EBITDA range: 10x - 18x
Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of NOVESCIA by CERBA HEALTHCARE 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.
Acquirer: cerba healthcare