BPI France invests €95m in Bridgepoint-backed MédiPôle

Alice Tchernookova
21 July 2016

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BPI France has invested €95m in hospital group MédiPôle Partenaires, joining Bridegpoint in the pool of investors.

The transaction, set to be closed in August 2016, is in line with BPI's intention to deepen investments in the private healthcare and hospitals sector.

Bridgepoint, invested in the group since 2011, remains the majority shareholder, with BPI France taking a minority stake. As part of the deal, Bridgepoint increased its share in the group by taking over the shares of former MédiPôle Sud Santé CEO Marcel Hermann.

BPI's and Bridgepoint's common backing will enable the healthcare group to pursue its ambitious growth plans – the group is already the third largest private clinic in France, with a turnover amounting to €866m for 2015, behind Ramsay Générale de Santé (€2.3bn) and Elsan (€1.2bn).

Since 1991, the group has been making two bolt-on acquisitions per year on average, according to Les Echos.

In December 2015, Bloomberg reported that Bridgepoint was considering an IPO for MédiPôle, potentially valued at €1.5bn at the time.

Company
MédiPôle was created in 2014 as a result of a merger between Médi-Partenaires, founded in 1990, and Médipôle Sud Santé, founded in 2006.

It is currently France's third largest private clinic with a turnover amounting to €866m. The group is currently based in four regions in France: Languedoc-Roussillon-Midi-Pyrénées, Aquitaine-Limousin-Poitou-Charentes, Provence-Alpes-Côte d'Azur and Nord-Pas-de-Calais-Picardie.

It has 63 branches under management, counts around 9,000 staff and 2,500 practitioners, and catered to 1.1 million patients in 2015.

People
BPI France – José Gonzalo (director); Anne-Sophie Hérelle (investment director); Sylvain Dekens (vice-president); Sophie Paquin (director of legal).
Bridgepoint – Vincent-Gaël Baudet (partner); Thierry Coloigner, Fabrice Turcq (directors).

Advisers
Equity – Case Corporate Finance, Damien Segond (corporate finance).
Company – Latham & Watkins, Olivier du Mottay, Charles Antoine Guelluy (legal).