Livingstone has supported MEDI-MARKT Homecare GmbH, a portfolio company of European private equity firm Gimv, on its add-on acquisition of mediclean Home Care Service GmbH as exclusive M&A-Advisor.
The acquisition further strengthens and expands MEDI-MARKT’s market presence in Germany, particularly in several eastern German Federal states and in the homecare sector.
The homecare company Medi-Markt (Mannheim (DE) supplies around 150,000 patients throughout Germany and is a leading B2C Distributor of incontinence products in Germany. It has also established itself successfully in other homecare product groups. In 2020, 295 employees generated annual sales of more than EUR 75 million. Since its acquisition by Gimv, a European investor specializing among other things in healthcare investments, in October 2018, the company has achieved considerable growth under the leadership of its CEO and managing partner Markus Reichel.
Founded in 1991, mediclean (www.mediclean.de) was built and led by Ulf Högberg, who is considered a pioneer in this market segment. The company, currently employing approx. 60 people, acts as a partner for patients, nursing homes, care services as well as health insurance companies and has focused on homecare supply in particular in the product groups incontinence, wound supply, Stoma and enteral nutrition. In order to continue shaping the future of the homecare market with a strong partner at his side, Mr. Högberg has decided to sell his shares to Medi-Markt. He will continue to support the company and the entire Medi-Markt Group in an advisory role. The transaction is subject to customary closing conditions and is expected to be completed by year end 2021.
“The transaction enables us to geographically enter new markets and ensures further dynamic growth. We would like to thank Livingstone for the professional and intensive advice including due diligence and contract negotiations throughout the transaction,” commented Markus Reichel, Managing Partner of Medi-Markt Group.
“The combination of these two companies will further strengthen Medi-Markt Group’s market-leading position in Germany and enable it to diversify the combined customer and product portfolio,” said Philipp von Hammerstein, Partner at Gimv in the Health & Care division at the Munich office.
Dr. Ralf Nowak, Managing Partner at Livingstone Düsseldorf, comments: “Following the successfully accompanied transaction between Medi-Markt and Gimv in 2018, we are now pleased to have advised Medi-Markt / GIMV on the buy side of this add-on transaction. Both companies will complement each other excellently, they fit very well to each other regionally and culturally”