Specialist healthcare investor ArchiMed has acquired a majority stake in Netherlands-based Soest Medical Group (SMG) which produces adhesives used during surgery.
SMG has two brands: seller of reusable adhesives Eurotape and disposable adhesives provider Somed. Its revenues are growing at a rate of around 10 per cent annually, according to ArchiMed.
With ArchiMed’s backing, SMG will look for buy-and-build opportunities in a bid to consolidate the European operating theatre products sector. It also plans to launch a number of new products during the next 18 months.
“In SMG, we have identified one of the rare players in the surgical products sector that has developed a robust expansion strategy,” ArchiMed managing partner Robin Filmer-Wilson said. “We are thrilled to help them rapidly roll out their ambitious global development plan.”
ArchiMed closed its second fund at its €315m hard cap in September after just four months on the road. It passed its target by 26 per cent and was more than 1.5 times oversubscribed.
By Madeleine Farman
9th April 2018