France-based ArchiMed, a healthcare-focused private equity firm, have hired Benoît Adelus and André-Michel Ballester as partners. Adelus was the chairman and CEO of Sebia while Ballester is currently chairman of ArchiMed portfolio company Citieffe.
February 12, 2018 – Benoît Adelus and André-Michel Ballester are joining the senior management of European private equity healthcare specialist ArchiMed, expanding the firm’s number of partners from six to eight. They bring significant strategic and operational insight, international experience and extensive industry networks to ArchiMed and its portfolio companies. They will focus on buy-and-build value plays, which require a specialized combination of investment and operational skills.
Adelus, a Frenchman, has over 30 years of international experience in Europe, Latin America and the United States as a CEO in key Healthcare sectors, including IVD (In Vitro Diagnostics), Medtech, Animal Health and Testing services. He spent the last decade as Chairman and CEO of global IVD leader Sebia.
There, he steered the group through four buyouts and increased its enterprise value five-fold to €2 billion by 2017, when it was sold to private equity firm CVC, Canadian state pension fund Caisse de dépôt et placement du Québec, and the Tethys Bettencourt family investment fund. Adelus stepped back from the CEO role at Sebia in September, remaining chairman. He was COO at Merial and CEO at Biomerieux.
Adelus graduated with an MBA from HEC in Paris in 1987, after earning a Doctorate in veterinary medicine and starting his career as an animal surgeon. He’s worked with the ArchiMed team for over twelve years in non-executive advisory roles.
Ballester, a Swiss citizen, also has over 30 years’ experience in the healthcare sector at major European and U.S. Medtech specialists. He led a turnaround and successfully pursued a growth strategy during eight years as CEO of listed cardiac device maker Sorin. There, he conducted 18 mergers and acquisitions, expanding operations in the United States and in emerging markets. His actions doubled the company’s value despite a decline of some 50 percent in the relevant stock market index. After merging with US Neuro player Cyberonics, he became the CEO of UK successor group LivaNova, retiring a year later in 2016. Ballester is currently chairman of ArchiMed portfolio company Citieffe, an orthopedic device manufacturer. He’s held senior positions at healthcare companies Baxter and Edwards Lifesciences.
Ballester earned an Engineering degree from Centrale Lille and an MBA from INSEAD. He’s worked with the ArchiMed team for over five years in non-executive advisory roles.
Adelus and Ballester were part of ArchiMed’s “Talent” network of senior global healthcare industry executives before becoming partners. ArchiMed’s Talents help source potential deals and consult on product innovation and expansion at ArchiMed portfolio companies. Like ArchiMed’s other partners, Adelus and Ballester have a track-record of value creation across several Healthcare sectors and company sizes, especially via buy-and-build strategies.
“André-Michel and Benoît increased the value of ArchiMed’s investment portfolio as part of our advisory network,” says Denis Ribon, ArchiMed Chairman. “Now we’re mining their wealth of experience even more effectively, reinforcing our ability to deliver high returns to our investors.”
ArchiMed SAS Asset management company registered with AMF
About ArchiMed – ArchiMed was formed in 2014 by former 3i Healthcare leaders as Europe’s first independent private equity fund focused exclusively on the healthcare sector. The firm closed investment in its Med II fund at its hard cap of €315 million in September 2017, four months after initiating fundraising. The Med I fund has completed its first full exit, generating a 400 percent internal rate of return, and several partial exits, all of which have returned more than a third of invested capital.
ArchiMed invests in all healthcare sectors, targeting profitable and growing companies and investing between €5 million and €50 million per transaction. In the last twenty years, the ArchiMed partners directly managed more than €4 billion in healthcare company investments throughout the world. www.archimed-group.eu
By Iris Dorbian
February 12, 2018