BC Partners further exits Médica

A 9.5% stake was sold to investment company Batipart, while another 18.6% of BC Partners' shareholding was acquired by several entities of the Covéa group. BC Partners funds retain a 3% stake in the business.

The transaction was completed on the basis of €16 per Médica share. The company's market cap currently stands at €744m.

BC Partners completed an IPO of home care company Médica in February 2010, raising a lower-than-anticipated €275.5m. The listing was at the time the first private equity-backed IPO for over year, and remains one of the few that took place in 2010. Médica had a market capitalisation of €623m at the time of the flotation. Since the listing, share price has increased by more than 13.8%.

Médica was originally founded in the mid-eighties and grew by merging smaller retirement home businesses, under the direction of the Caisse des Dépots et Consignations. The Paris-based company now operates 14,300 beds across 186 facilities. Since BC Partner's original investment, headcount has increased from 4,350 to 7,900.

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• Topics
• France
• Exits
• Healthcare
• France
• BC Partners
• Partial sale