VCA acquired by MARS

ICG and founder Yves Journel have entered into exclusive negotiations to acquire the majority stake in DomusVi from PAI Partners. The transaction follows a preemptive bid by ICG that successfully bypassed a formal auction process involving major international investors and sovereign funds. This deal marks a significant change in scale for the group, which was valued at less than €650 million in 2014. The acquisition is structured to maintain the existing high-yield bond financing, as the continued presence of ICG and the founder in the capital prevents the activation of change-of-control repayment clauses

IK Investment Partners, through its IK VIII Fund, reached an agreement with Eurazeo PME and the management team to acquire a majority stake in Colisée. The founding family and management team reinvested alongside IK, ensuring continuity of strategic direction and operational leadership. The investment thesis centres on supporting Colisée's continued growth through selective buy-and-build acquisitions in France and across Europe, as well as the development of innovative services for elderly people

Partners Group and Canadian pension fund PSP entered exclusive negotiations to acquire Cerba from PAI Partners. The consortium beat out CVC and Apax, but most notably rejected a higher offer (>EUR2bn) from industrial player Cinven (owner of Synlab/Labco). Management preferred the financial sponsors to avoid massive cost synergies and restructuring.

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

The acquisition of Synlab by Cinven from BC Partners represents a landmark transaction in the European healthcare services sector, following closely on the heels of Cinven’s acquisition of the French group Labco. The strategic rationale for the deal is the immediate merger of Synlab and Labco to create a dominant pan-European champion in medical diagnostics. This "buy-and-build" strategy is designed to exploit the vast potential for consolidation in a European market where the top two providers previously held only a small fraction of the total market share

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