Bridgepoint's MédiPôle Partenaires buys Clinique Esquirol

The investor is acquiring the private group from the Harpin family office, headed by Gérard Angotti. 

This latest addition brings MédiPôle Partenaires an extra €50m turnover and 900 additional staff members. It also strengthens the group's position in the south-west of France. The group is said to be considering a move to Bordeaux for its headquarters, according to media reports.

With the acquisition, MédiPôle Partenaires will also benefit from Ware Système, an IT service developing applications for patient documentation, used by Esquirol and other clinics.

In July this year, BPI France had invested €95m in the group, becoming a co-investor alongside Bridgepoint. Their joint backing was to enable the healthcare group to pursue its growth plans.

Bridgepoint took a majority stake in hospital Médipôle in March 2011, investing via its €4.8bn Bridgepoint Europe IV fund in a deal valued at around €200m. In April 2014, it merged the portfolio company with rival group Médi-Partenaires, valued at €600m for the transaction and backed by LBO France at the time.

The new entity MédiPôle Partenaires generated €830m in revenues and had a 8,500 workforce. Its turnover has since hit the €866m mark, and its workforce is up to 9,000.

Company
Based in Agen, Clinique Esquirol Saint-Hilaire is a private clinic treating 26,000 patients a year and generating €50m of turnover. The clinic has a 900-strong workforce with 100 practitioners working in various medical sectors.

MédiPôle Partenaires 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 clinics group with a turnover amounting to €866m, behind Ramsay Générale de Santé (€2.3bn) and Elsan (€1.2bn).

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 (investment director).
Bridgepoint – Vincent-Gaël Baudet (partner); Thierry Coloigner, Fabrice Turcq (directors).

Advisers
Equity – PwC, Guillaume Lorain (financial due diligence); PwC Société d'Avocats, Benoît Cambournac, Suzie Maillot (tax); Cheysson Marchadier & Associés, Charles Casal, Elisabeth Dos Santos (legal).
Vendor – DS Avocats, Arnaud Burg, Audrey Clément (legal).

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• Topics
• Portfolio management
• France
• Healthcare
• France
• Build-up
• BPI France
• LBO France
• Bridgepoint