Duke Street has completed the €217 million acquisition of French laboratory group Bionmis from the company’s founder and chief executive Jean-Louis Oger.
The firm has installed Pierre-Yves Guiavarch as chief executive officer and shifted Oger to the new role of non-executive chairman. Guiavarch joins from the largest healthcare group in France, General de Sante, where he was chief executive officer.
“Having known Pierre-Yves for years, I’m convinced he will drive the group and its employees to a bright future whilst maintaining the company culture,” said Oger in a statement.
Bionmis, formerly known as Laboratoire Marcel Mérieux, employs 1,600 staff and generates revenues of more than €220 million. According to the company’s website it is the largest laboratory in France, specialising in medical pathology services.
The deal was financed by a senior facility arranged by Fortis and a mezzanine facility arranged by AXA Mezzanine.
Duke Street’s other medical investments include UK-based dentistry chain Oasis, psychiatric hospital operator Affinity Healthcare and Gruope Proclif, a Paris-based hospital operator.
The firm is currently investing its €963 million fund, Duke Street VI.
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