Livingstone has advised the shareholders of Medi-Markt Homecare-Service and Medi Markt Service Nord Ost on their sale to Gimv
Livingstone’s healthcare sector team has advised the shareholders of Medi-Markt Homecare-Service GmbH and Medi Markt Service Nord Ost GmbH on the sale of the companies and their affiliated companies to the European investment company, Gimv. Gimv will form a new group under the name Medi-Markt that will be the platform for further growth. Terms of the deal are undisclosed.
The new Medi-Markt group will employ around 225 people in Mannheim and Isenbüttel. Markus Reichel, formerly managing director of Medi-Markt Homecare-Service, will become CEO of the group and a shareholder. Med-Markt is a mail-order provider of homecare supplies with a particular focus on incontinence.
Further product groups include diabetes control, stoma care, enteral nutrition, disinfection and protection products as well as personal hygiene, supplying a total of c.12,000 different products to around 150,000 end-consumers annually. Medi-Markt which has a combined annual turnover of more than $56m is one of the leading providers for incontinence aids and stoma care in Germany.
“Together with our new growth partner Gimv, we want to further expand our product offering and advance into adjacent segments. We are also considering acquisitions of suitable companies,” explained Markus Reichel, CEO.
The business benefits from the demographic change since Medi-Markt primarily caters an ageing population: today c. 7 million people suffer from incontinence in Germany. This number is expected to further increase to 9 million over the next 20 years. The majority of Medi-Markt‘s products are reimbursed by health insurances, for whom Medi-Markt has been a reliable partner for many years.
“Medi-Markt’s high-quality products and the company’s customer-centric approach enable many people to maintain a more independent lifestyle. At the same time, due to lean organisational structures, the company improves efficiency of care,” added Philipp v. Hammerstein, Partner at Gimv in the Health & Care segment in Munich.
“We are looking forward to continuing the success story of these two leading specialists while leveraging further potential related to the merger. Together with the experienced management team, we will focus on organic growth as well as on buy-and-build opportunities. As a result of the transaction, it was possible to consolidate the individual companies into one group to establish a solid foundation for its future growth,” Thomas Dräger, former managing shareholder of Medi- Markt Home Care Service GmbH, said.
Dr. Ralf Nowak, Partner at Livingstone in Düsseldorf, concluded: “We are pleased that we were able to accompany the sellers during this process and are convinced that we have found the perfect partner for the companies and the management.”
