SYNLAB acquired by CINVEN

DomusVi has successfully acquired its Spanish competitor SARquavitae, previously held by a consortium of investment funds including Palamon Capital Partners and G Square Capital. This transformative build-up operation allows the group to become the number one player in the Spanish elderly care market. The strategic rationale centers on geographic diversification, as the target’s strong footprint in Catalonia and Madrid perfectly complements the acquirer’s existing position in Galicia. The integration adds 88 facilities and 11,000 beds to the group’s portfolio, bringing total pro forma revenues to approximately €1

CIR and F2i have signed an agreement to acquire the 46.7% stake in KOS Group previously held by Ardian. The strategic rationale for the transaction is to resolve the future ownership structure of the group, allowing CIR to maintain long-term industrial control while enabling Ardian to exit after a six-year investment cycle. Under the agreement, F2i enters as a major strategic partner, acquiring a 37.3% stake, while CIR increases its majority position from 51.3% to 62.7%. This partnership combines CIR’s historical industrial knowledge of KOS with F2i’s infrastructure investment capabilities

Antin Infrastructure Partners acquired a majority stake in Amedes Group from General Atlantic. The transaction provided an exit for General Atlantic, which had owned the asset since 2007 and tripled its revenues through a buy-and-build strategy (30+ acquisitions). For Antin, this investment represents a classic "infrastructure" play in the healthcare sector: high recurring revenue (almost 100% repeat usage) due to sticky relationships between doctors and labs, and low volume volatility.

The acquisition of Labco by funds managed by Cinven follows the strategic withdrawal of the company’s planned Initial Public Offering (IPO) on Euronext Paris. This transaction allowed for the total rationalization of a complex shareholding structure previously split between financial investors (3i, TCR Capital, NiXen, CM-CIC), founders, and a large group of independent biologists. The strategic rationale for the deal is rooted in the creation of a leading pan-European platform within the consolidating medical biology sector

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.

Waterland Private Equity agreed to acquire 100% of MEDIAN Kliniken from Advent International and British real estate investor Marcol. Concurrently with the acquisition, Waterland announced its intention to sell MEDIAN's real estate portfolio through a sale-and-leaseback arrangement with a US real estate investor over the following months, effectively separating the operational business from its property assets. Following closing, Waterland planned to merge MEDIAN with its existing portfolio company RHM to create a significantly enlarged German rehabilitation platform, and to pursue further bolt-on acquisitions particularly in intensive care to broaden MEDIAN's medical offering

The acquisition of Groupe Colisée by Eurazeo PME is a strategic move that aligns with the firm's investment strategy of supporting companies that are well-positioned to benefit from underlying societal trends. With the aging population and increasing demand for elderly care services, Groupe Colisée is well-positioned for growth and expansion. Eurazeo PME's investment in Groupe Colisée is intended to support the group's continued development and consolidation of the French retirement home market, as well as its expansion into new markets, including China

PAI Partners has entered into exclusive negotiations to take control of DomusVi, the third largest French player in the private nursing home sector. Upon completion of the transaction, PAI is expected to hold 70% of the capital alongside an associated fund. The remaining shareholding structure will include DV Holding (controlled by founder Yves Journel) at 25% and the group's management at 5%. This operation facilitates the full exit of the other founding shareholder, Jean,François Gobertier, thereby resolving a long,standing governance conflict between the two founders

The EQT Mid Market fund, alongside institutional co-investors CDPQ and GIC, acquired a majority stake in I-MED Radiology Network. The deal followed a complex period for I-MED, which had recently refinanced its debt after being controlled by a syndicate of over 40 lenders (led by Ares and Anchorage) following the global financial crisis. EQT's entry was strategically aimed at stabilizing the capital structure and pivoting towards aggressive growth. The investment thesis centered on the advanced nature of the Australian imaging market and the opportunity to leverage EQT's industrial network to improve operational efficiency, win hospital contracts, and pursue add-on acquisitions

Concomitantly with the Air Liquide acquisition of LVL Médical's French activities, the Lavorel family agreed to acquire 100% of LVL Médical Allemagne from LVL Médical Groupe. The transaction was structured as a mandatory prerequisite to the Air Liquide deal, as the latter's acquisition perimeter was explicitly limited to the French operations. The carve-out ensures a clean separation between the French and German businesses, with Air Liquide retaining full focus on the French home healthcare market and the Lavorel family continuing to develop the German operations autonomously