ArchiMed closes MED Platform I on €1bn

The vehicle was launched in Q2 2018 and held a first close on almost two thirds of its original €800m target in October that year. It went on to hold several interim closes.

Triago acted as placement agent on the fundraise, having worked on the GP's first two funds as well.

The vehicle targets larger companies than ArchiMed's MED I and MED II vehicles, which respectively raised €146m in 2014 and €315m in 2017. MED I and MED II focus on smaller European healthcare companies, investing in firms with enterprise values of less than €100m.

MED I is now fully deployed and has so far generated a cash-on-cash return of more than five times invested capital, according to ArchiMed.

ArchiMed was founded in 2014 by former 3i Healthcare investors and now employs 30 people.

Investors
MED Platform I has received commitments from institutional investors (pension funds, insurance companies) and family offices, with a 70:30 split between Europe and North America.

Among other LPs, FFP, the listed investment company of the Peugeot family, invested €80m in the vehicle at first close.

Investments
MED Platform I is ArchiMed's first investment vehicle to focus on healthcare's mid-cap sector, or companies with enterprise values of at least €100m.

The fund focuses on Europe- and US-based companies related to medtech, biopharma and care services. It will invest between €50-500m in platform companies.

The GP intends to invest in around six companies overall and to double their size during the investment period, a spokesperson for ArchiMed told Unquote at the time of the first close.

Since it began investing in mid-2019, MED Platform I has acquired three platform companies: Bomi Group, a specialist in complex healthcare logistics; Direct Healthcare Group, a fully integrated manufacturer of pressure care products; and most recently Namsa, a US-based contract research organisation focused on medical devices.

People
ArchiMed - Denis Ribon (chair); André-Michel Ballester (managing partner for MED Platform I)

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