Target Information

Parquest Capital has announced the sale of its majority stake in Homeperf, a leading operator in the French home healthcare sector, to Sapio, an Italian group specializing in industrial and medical gases, as well as home care services. This transaction comes five years after Parquest's initial investment aimed at supporting the company's growth alongside its management team. During this period, Homeperf has solidified its position in an increasingly competitive market, achieving revenues of €52 million by the end of 2019.

Homeperf, established in 1997 and headquartered in Aix-en-Provence, boasts a significant presence in France with a national network of 37 agencies and a workforce of 360 employees. The company operates in the home healthcare sector, focusing on patient care in infusion therapy, artificial nutrition, insulin therapy, and respiratory care.

Industry Overview in France

The home healthcare market in France represents one of the largest growing sectors within the overall healthcare industry. As the nation's aging population continues to rise, the demand for home care services is expected to expand significantly. This sector includes a variety of services, from basic nursing care to complex medical treatments requiring specialized expertise.

Government policies in France have increasingly shifted towards supporting home care solutions, acknowledging their essential role in healthcare. This has led to heightened investment in home health services and increased scrutiny on the quality and efficiency of these services to ensure patient satisfaction and safety.

Moreover, the competitive landscape features several key players striving to innovate and optimize their service offerings. Companies are intensifying their focus on technology integration, enhancing patient monitoring systems and digital health platforms to address growing consumer expectations.

Rationale Behind the Deal

The acquisition of Homeperf represents a strategic opportunity for Sapio to bolster its presence in the French market and strengthen its position as an independent European player in the home healthcare sector. With a reported annual revenue exceeding €550 million, Sapio employs 1,800 people and has operational footprints in Germany, France, Spain, Turkey, and Slovenia, indicating its strong regional commitment.

Mario Paterlini, CEO of Sapio and the new president of Homeperf, emphasized the significance of this acquisition, particularly as France is the largest market for home care in Europe, poised for continuous growth. He stated that reinforcing their presence in France was crucial for their growth strategy, and Homeperf provided a unique development opportunity.

Investor Information

Parquest Capital, the venture capital firm that owned the majority stake in Homeperf, has a notable track record in the healthcare sector, having supported various companies to become market leaders over the past 15 years. The firm is recognized for its expertise in developing healthcare providers, particularly in home services and private clinics, exemplified by successful investments in companies like Vivalto Santé and Unither Pharmaceuticals.

By reinvesting in Homeperf with a significant minority stake alongside Sapio, Parquest Capital demonstrates its commitment to continue supporting this company and its strategic development, navigating new opportunities within the dynamic healthcare landscape.

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From an expert standpoint, the acquisition of Homeperf by Sapio presents a compelling investment opportunity, primarily due to the robust growth potential within the French home healthcare market. The increasing demand, propelled by an aging population and favorable government policies, bodes well for Homeperf as it aligns with Sapio's ambition of expanding its healthcare footprint.

Additionally, Sapio's established operations and resources position it ideally to accelerate Homeperf's growth trajectory. The synergy created through this acquisition is likely to enhance service capabilities, improve operational efficiencies, and ultimately lead to an increase in both revenue and market share.

Furthermore, the continued backing from Parquest Capital, renowned for its strategic prowess in the healthcare sector, adds a layer of confidence for stakeholders involved. Their ongoing involvement signifies a consensus on the long-term value and opportunities inherent in Homeperf's business model.

Overall, this deal is strategically sound, and both companies stand to benefit substantially from the shared expertise and resources in addressing the growing needs of the home healthcare sector in France.

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