This transaction marks the first major structural acquisition for Winncare following the entry of Siparex ETI as its majority shareholder earlier in 2021. By acquiring 100% of Pharmaouest Industries, Winncare has significantly strengthened its industrial capabilities and product portfolio in the high-stakes segment of pressure ulcer prevention. This horizontal integration allows Winncare to internalize advanced visco-elastic foam manufacturing technologies and leverage Pharmaouest's dual-site industrial setup in France and Tunisia to optimize its supply chain. The rationale for the merger is driven by the complementarity of the two groups, product lines and customer bases. The addition of Pharmaouest provides Winncare with a specialized R&D pipeline and a wider range of medical consumables specifically tailored for home care and elderly care institutions. Strategically, this acquisition acted as a catalyst for Winncare's growth, contributing to a 50% increase in the group's total revenue within the same fiscal year. The operation aligns with Winncare's long-term goal of becoming a diversified European leader in medical equipment by consolidating smaller, specialized manufacturers with high technical value. This deal also supports the group's commitment to a mission-driven corporate model, focusing on social impact and patient-centric innovation throughout the care journey.

Siparex ETI has entered into exclusive negotiations to acquire a majority stake in Winncare, marking the first investment of its Siparex ETI 5 fund. This transaction follows a successful period of ownership by IDI, which originally took control of the group in 2014 and supported a doubling of the company,s size through international expansion. In this new capital structure, IDI is exiting its majority position but remains a minority investor, alongside the management team led by President Philippe Chêne, who continues to drive the group,s strategic vision. The primary rationale for this LBO is to provide Winncare with the financial resources to act as a "natural consolidator" in the fragmented European medical equipment market. Under Siparex,s sponsorship, the group intends to accelerate its international deployment and prioritize the roll-out of new high-tech offerings, such as connected fall-prevention systems and modernized clinical bed ranges. The deal leverages the positive demographic trends of the "Silver Economy," focusing on high-quality care for the elderly. Furthermore, the partnership is built on shared values of corporate social responsibility, with a clear objective to transition Winncare into a mission-driven enterprise (entreprise à Mission), focusing on the social impact of its healthcare solutions and the professionalization of the caregiving sector.