Private equity firm Gimv has acquired two German medical supplies businesses, Medi-Markt Homecare-Service and Medi Markt Service Nord Ost.
The two companies specialise in providing branded and private label homecare products by mail-order, with a particular focus on incontinence aids. In total they supply around 12,000 different products to around 150,000 end users and have a combined annual turnover of more than €50 million (£43.9 million).
The two companies and their affiliates together employ around 225 people. Following the transaction they will operate jointly under the Medi-Markt brand, headquartered in Mannheim.
Markus Reichel, Managing Director of Medi-Markt Homecare-Service and future CEO of the group, said: "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."
Philipp v. Hammerstein, Partner at Gimv in the Health and Care segment in Munich, added: "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 organizational structures, the company improves efficiency of care. We are looking forward to continuing the success story of these two leading specialists, while leveraging further potential related to the merger."