Our company needed a cultural change in order to accelerate its’ internationalization. Through Archimed’s unique features, including a model between a pure industrial player and a pure financial player, they perfectly allowed us to drive such a change. ArchiMed’s team never steps on Management’s toes but is always ready to help if requested by Management, especially regarding Business Development. Debt leverage or short term financial performance are clearly not their priorities; it is all about business drivers. This can only be possible because the ArchiMed team has a mix of industry, science and investment backgrounds, and also because they have a superb network in their prioritized sub-sectors, as we do in the health food supplements sector.
We are thrilled at the partnering we’ve entered into with Archimed this year. Being a fast business growing group, Provepharm Life Solutions was seeking for an investor/partner in the Healthcare sector, with whom the same values of excellence, quality, engagement and ambition would be shared. We have found these values in Archimed through wise recommendations they’ve made to our Business Development Unit for potential growth leverages. Within a framework of mutual trust, our relationship with Archimed can be defined as efficient, creative and constructive.
We selected ArchiMed as our long term partner based on their knowledge, network and track-record in Pharma and Biotechnologies. They immediately supported us in the acceleration of our efforts both at commercial level, towards Bioproduction and US/APAC, and R&D to enlarge our product range. Our company never invested so much in R&D and in Operations. We trebled the number of annual product releases since ArchiMed became our majority shareholder.
Since ArchiMed replaced the family owners, our company was completely transformed, for the best. ArchiMed brings much more long term vision, capital availability and international perspectives. This allowed Micromed to quickly broaden its product range and to internationalize, both organically and through acquisitions, in Europe and the US. This focus on growth through innovation and internationalization created a great momentum at team level.
With ArchiMed, we get the combined benefits of an industrial player and a Private Equity player, without the disadvantages of each category. Indeed, we keep the company independent, we share the value creation and Management remains in control. But also, given ArchiMed’s sector focus and team quality, we receive great support in terms of strategic marketing, new business opportunities and acquisition opportunities, thus enabling us to make our company more robust and accelerate our future growth.
I have worked with a number of private equity funds over my career and am well placed to benchmark ArchiMed. Whilst a relatively new fund the ArchiMed team are clearly experienced and well connected in the Healthcare sector and such specialist knowledge will be a benefit to me and the business going forward. In structuring the deal they have been pragmatic in considering management legacy and rolled positions, balancing this with a need to incentivise any new management subsequently brought in as well as the obvious investor requirements. Operationally, they have taken a keen interest in strategy and market approach seeking to balance both organic and acquisitive initiatives but ensuring that the executive management team retain ownership of direction and delivery.
Archimed is helping us grow in terms of professionalisation. Archimed in not just a financial partner, it's an industrial partner. In the health market it's so important to focus not only on the numbers like EBITDA, but also focus on the quality of the service and of the treatment that we have to deliver to people. So we are partners not only for economic reasons but also in the soul. We’ve found in ArchiMed a partner for whom regular and transparent conversations are fundamental to building a strong company.