G Square backs €40m round for Medadom

The company aims to use the fresh capital to expand its business in France.

In April 2020, Medadom CEO and co-founder Nathaniel Bern told Unquote sister publication Mergermarket that the company intended to raise a series-A round of €7-40m. Bern also said the business aimed to grow its team from 40 to 70 employees in 2020. The report added that the company plans to install an additional 2,000 teleconsultation terminals in 2020, with the aim of reaching 24,000 terminals by 2024.

G Square is currently deploying equity via G Square Capital III which held a final close in January 2020 on €500m, surpassing its target of €450m. The fund makes investments of €30-60m and focuses exclusively on the healthcare sector.

Telemedicine platforms have seen significant interest from private equity in 2020, in part as a result of their increased use during the coronavirus pandemic, as reported by Unquote.

Company
Founded in 2017, Medadom is a telemedicine startup that allows users to have remote video appointments and consultations with doctors. The service operates via telecommunication terminals based in pharmacies in France.

People
Medadom – Elie-Dan Mimouni (co-founder, CEO); Nathaniel Bern (co-founder, chief technology officer).
G Square Capital – Laurent Ganem (founder, CEO).

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• Topics
• Expansion
• France
• Healthcare
• Venture
• France
• G Square Capital