Gimv acquires Medi-Markt Homecare-Service and Medi Markt Service Nord Ost
Antwerp/Munich/Mannheim/Isenbüttel — The European investment company Gimv has agreed with the respective owners of the Medi-Markt Homecare-Service GmbH, based in Mannheim, and the Isenbüttel-based Medi Markt Service Nord Ost GmbH and the respective associated companies concluded an agreement to take over the majority of the shares in the company. This is a succession situation forboth companies. — Gimv is thus expanding its Health & Care portfolio to include a leading supplier of medical aids in Germany, which is expected to grow further in the coming years. The remaining shares will be acquired by the designated CEO of the Medi Markt Group, Markus Reichel. The transaction is still subject to the usual regulatory approval and is expected to be completed in a few weeks.
The two companies and their affiliated companies, which together have around 225 employees, have previously operated with different regional focuses. In the future, they are to operate as a group and uniformly under the Medi-Markt brand; Mannheim will become the headquarters. Markus Reichel, who was previously Managing Director of Medi-Markt Homecare-Service GmbH, will become Managing Director of the overall group and, as part of the transaction, also a co-partner. The companies specialize in the mail order business with auxiliary and care aids for home consumption; a particular focus is on consulting and regular supply of products in the area of absorbent incontinence aids. In addition, the 12,000-item portfolio also includes areas such as draining incontinence aids, diabetes control, ostomy care, enteral nutrition, home care (disinfection and protection) and personal care, including private labels. Medi-Markt is one of the most important suppliers of incontinence aids and ostomy care in the country. The entire group turns over more than 50 million euros a year.
Medi-Markt supplies around 150,000 end consumers every year. A large proportion of the products are prescribed by doctors and hospitals on the basis of prescriptions and billed to health and long-term care insurers, for whom Medi-Markt has been a reliable partner for many years.
“Together with our new growth partner Gimv, we want to further expand our range of services and also move into adjacent segments. In addition, acquisitions of suitable companies are being considered,” explains Markus Reichel, Managing Director of Medi-Markt Homecare-Service GmbH and future CEO of the Group. The main driver here is demographic development, which is expected to lead to a further increase in demand for Medi-Markt products — the proportion of the population with incontinence problems alone, currently estimated at seven million, is expected to rise to nine million within the next 20 years.
“The companies of the Medi-Markt Group enable many people to live a more self-determined everyday life and have achieved a strong market position with high quality and great commitment. At the same time, as efficient providers, they contribute to the cost-effectiveness of care,” says Philipp v. Hammerstein (photo), Partner at Gimv in the Health & Care division at the Munich office. “We look forward to vigorously continuing the success story of these two leading specialists, including leveraging the potential from the merger. Together with the experienced management, we will focus on organic growth as well as on a buy-and-build strategy.”
Thenew investment marks Gimv’s seventh investment in the German-speaking healthcare market. This means that Gimv currently has 20 investments in companies from the healthcare and life sciences sectors — the 16-strong, pan-European team of the Gimv investment platform Health & Care is thus one of the most active European investors in the healthcare industry. The portfolio also includes several hospital and practice groups, medical technology and biotech companies, among others.