Target Information

Toulouse, June 6, 2025 – Groupe CFO, a leading player in debt collection and medical secretariat services, is opening its capital to Bpifrance through the acquisition of Groupe GESCALL FRANCE, positioning itself as the French leader in this sector. Over the years, Groupe CFO has developed expertise in outsourced customer relationship management, focusing on both debt collection and medical secretariat services.

The Group operates through two business sectors and four subsidiaries: in Finance and Legal, it includes the Office of Judicial Procedures, the CFO France Firm, and the National Office for Debt Collection, which handle amicable and judicial debt recovery both for contingency and for third parties. In the Medical Sector, SERTEL MEDICAL specializes in providing medical secretariat services to healthcare professionals, particularly in telephone permanence.

Industry Overview in France

Operating in France for over 25 years, Groupe GESCALL FRANCE has become a key partner for medical and paramedical professions, clinics, CHUs, and health centers seeking to outsource their telephone permanence (medical secretariat). The company has more than 900 clients and manages over 2,500 appointment schedules. With its extensive experience in the field, GESCALL FRANCE is now recognized as the leading provider in the French medical secretariat sector, playing a crucial supporting role for healthcare professionals in their daily operations.

To better serve its clients and stay close to patients' needs, GESCALL FRANCE has established solid and longstanding partnerships with platforms like Doctolib and Maia. The merger with Groupe CFO will strengthen the medical secretariat vertical while enabling rapid growth, surpassing 5 million euros in revenue. This new entity stands at a promising crossroads and benefits from a dynamic team of over 110 employees spread across approximately ten locations, including major cities like Paris, Lille, Dijon, Lyon, Aix-en-Provence, Castres, and international offices in Mauritius and Madagascar.

By integrating GESCALL FRANCE, Groupe CFO reaffirms its commitment to high-value-added services, maintaining competitive pricing while closely adapting to client needs. The synergy between these organizations enhances their market reach and expertise, ensuring a sustained trajectory of growth in the evolving medical secretariat landscape in France.

Rationale Behind the Deal

The acquisition of GESCALL FRANCE by Groupe CFO reinforces its strategic position in the medical secretariat sector while providing an opportunity for accelerated growth. Coupled with the investment from Bpifrance, which enters as a minority shareholder alongside company founder Guillaume Martin, this development marks a significant milestone for Groupe CFO.

Guillaume Martin comments, “Integrating GESCALL FRANCE into Groupe CFO represents a structural advancement in our development, reflecting shared values of client proximity and service quality. This operation strengthens our foothold in medical secretariat services while broadening our territorial reach and expertise. I firmly believe that our teams' complementarity will help us build a lasting leader serving healthcare professionals.”

Information About the Investor

Bpifrance, a national investment bank in France, plays a crucial role in supporting the growth of small and medium-sized enterprises (SMEs). By collaborating with Groupe CFO, Bpifrance aims to enhance the company's strategic development while ensuring it retains its autonomy. According to Arnaud Despoisse, Director of Investments at Bpifrance, there is a natural synergy between the two companies based on shared values of customer proximity and satisfaction.

As a strategic partner, Bpifrance's involvement assists in the organizational structuring of Groupe CFO in anticipation of future growth phases. The fund's confidence in this transaction further reinforces the viability of the company's development trajectory.

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From an investment standpoint, this acquisition appears to be a sound decision for both Groupe CFO and Bpifrance. The integration of GESCALL FRANCE not only enhances Groupe CFO’s service offerings but also solidifies its leadership position in a growing sector. The medical secretariat market in France is projected to expand, driven by increasing demand for outsourced support by healthcare providers. This positions the combined entity favorably for capturing new market opportunities.

The backing of Bpifrance adds financial stability and strategic insight, which are expected to accelerate the growth and operational efficiency of Groupe CFO. Their joint efforts may lead to scaling operations and improving service delivery, ensuring long-term sustainability in the competitive landscape.

Moreover, the emphasis on retaining competitive pricing while delivering high-quality services could serve as a differentiator in the market, appealing to a broader range of clients. Ultimately, the combination of experienced teams and shared values positions this partnership for success, suggesting a promising outlook for stakeholders involved.

In conclusion, the acquisition of GESCALL FRANCE by Groupe CFO, supported by Bpifrance, holds the potential for substantial growth and innovation. Given the aligned interests and strengths of the parties involved, it is likely to be a transformative step that reinforces their collective market leadership in the medical secretariat sector.

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