Following seven acquisitions over the past three years, Medisolve strengthens its financial structure with the support of Barings and Deutsche Bank, with Mediobanca acting as Debt Advisor. Refinancing of existing debt and €70 million in additional facilities to support organic growth, future acquisitions and the Group’s continued international expansion.
Medisolve, one of Europe’s leading providers of clinical engineering, maintenance and integrated healthcare technology services, has strengthened its financial structure, marking the beginning of a new phase in its European growth journey.
Following three years characterised by seven acquisitions and significant geographical expansion, the Group has completed a refinancing transaction with the support of Barings and Deutsche Bank. The transaction is designed to support Medisolve’s next phase of development through organic growth, further acquisitions and continued consolidation across European markets.
The transaction includes the refinancing of existing facilities as well as €70 million in additional financing to support the Group’s upcoming development projects.
This growth journey has enabled Medisolve to exceed €200 million in revenue and 1,000 employees, with dedicated personnel operating across more than 300 healthcare facilities in Europe and an operational presence spanning Italy, Spain, Portugal, Germany and Austria.
Just three years ago, the Group generated approximately €130 million in revenue and operated primarily in the Italian market. Since then, Medisolve has invested in broadening its technical capabilities and expanding internationally, completing seven acquisitions with an aggregate value of approximately €60 million.
The acquisitions completed in recent years have enabled Medisolve not only to grow in scale, but, more importantly, to broaden and further specialise its expertise in the management and maintenance of healthcare technologies. The Group has strengthened its know-how in areas including diagnostic imaging, ultrasound probes, endoscopy and laboratory equipment, developing increasingly specialised capabilities across its various fields of expertise.
The recent acquisition of Austria-based MIDES is also part of this strategy, further strengthening Medisolve’s presence in the DACH region, which the Group considers a strategic market for its European development. The aim is to progressively consolidate local technical expertise while bringing the Medisolve operating model to new markets, including through the training activities of the Medisolve Academy.
“Over the past few years, we have built an increasingly international Group, integrating highly specialised expertise and expanding our presence across Europe. The new resources will enable us to continue investing in skills, technologies and new markets, while maintaining our focus on the quality of the services we provide to healthcare organisations.” said Angelo Maresca, CEO of Medisolve.
Nicola Antognetti, Group CFO further commented: “The completion of this transaction is not simply a refinancing exercise but reflects the market’s strong confidence in our robust business model and financial discipline. Securing extended maturities and new credit facilities provides us with the financial flexibility required to accelerate our strategic roadmap, driving both organic growth and inorganic opportunities”
The refinancing, with Barings and Deutsche Bank as lenders and with Mediobanca acting as Debt Advisor to Medisolve, is part of a broader development strategy aimed at further strengthening the Group’s position as an independent European operator in the Healthcare Technology Management sector.
The new financial structure will enable the Group to continue pursuing its strategy by combining organic growth with new acquisition opportunities, with a particular focus on companies that can contribute highly specialised technical expertise and strengthen Medisolve’s presence in key European markets.
Alongside its growth in scale, Medisolve will continue to focus on integrating the companies that have joined the Group, progressively harmonising operational, financial, IT, procurement, quality and compliance processes and adopting shared standards.
Medisolve’s mission remains at the heart of this strategy: putting expertise and technology at the service of healthcare organisations, helping to improve the efficiency of biomedical and diagnostic equipment management while ensuring high quality standards across all the markets in which the Group operates.
“We care for those who care” therefore remains the guiding principle around which Medisolve intends to build its continued growth across Europe.
For the transaction, Mediobanca acted as Debt Advisor to the issuer.
Latham & Watkins acted as legal advisor to the issuer, including in relation to the capital markets aspects of the transaction.
Ropes & Gray advised the issuer on the corporate, compliance and foreign direct investment aspects of the transaction.
Maisto e Associati advised the issuer on Italian tax matters.
Hogan Lovells Cadwalader advised the noteholders and lenders under the revolving credit facility.
Fortlane Partners provided business planning and commercial due diligence support.
EY-Parthenon advised the issuer on financial due diligence, while EY advised the issuer on tax due diligence.
GLAS acted as Escrow Agent, Issuing and Calculation Agent, Security Agent and Noteholders’ Representative with respect to the notes, and as Facility Agent in respect of the revolving credit facility.