3i reinforces commitment to healthcare investing with €35m funding of Groupe Cair
3i, a world leading private equity and venture capital firm, has acquired a minority stake in the Cair Group of France, leading specialist in medical devices for home and hospital care.
With this €35m investment, 3i is emphasising its focus on healthcare businesses.
Founded in 1987 by Georges-Gaston Lopez and his son Georges-Antoine Lopez, current Chief Executive Officer of the business, Cair designs, manufactures and distributes medical devices and surgical equipment, including disposable equipment for perfusion/nutrition and intravenous and enteral support systems to hospitalised and home care patients.
Recognised as one of the leading firms in its sector in Europe, Cair’s success is built upon its innovative culture, efficient industry products and excellent quality of service. Thanks to its experience and in-depth understanding of the medical sector, the group has recently launched a home care service with a national agency network which has quickly become the reference product in the market. Its aim is to accelerate the group’s international growth both organically and through acquisition.
Based near Lyon, Cair’s annual turnover exceeds €50m and it has consistently achieved double digit growth since its creation.
Through this investment, 3i will help support Cair Group’s growth objectives using its substantial experience and global network of contacts in the sector. Georges-Antoine Lopez, CEO of Cair Group comments : « 3i’s expertise in the healthcare sector and the success of its portfolio companies convinced us straight away that 3i was the ideal partner to support us in our international development.» According to Denis Ribon, 3i Director « 3i invests on average €350m annually in the healthcare sector, in dozens of businesses, making us one of the largest investors globally in this market. Cair Group and its management team are a perfect example of the kind of ambitious growth story which we seek to back.». Just this month, 3i appointed former CEO of Cambridge Antibody Technology Group plc (CAT), Peter Chambré, to further strengthen 3i’s global healthcare investment team. 3i was advised on the deal by Sylvain Gaudillat from Société Générale.
3i is a world leader in private equity and venture capital. We focus on Buyouts, Growth Capital, Venture Capital, Infrastructure and Quoted Private Equity (“QPE”) and invest across Europe, the United States and Asia. Our competitive advantage comes from our international network and the strength and breadth of our business relationships. These underpin the value that we deliver to our portfolio and to our shareholders.
3i is a highly active investor in the healthcare sector with over 100 investments including Clinica Baviera (Spanish chain of opthalmology clinics), Carema (largest specialist care services firm in Sweden), EUSA Pharma (specialty pharma drugs), Transmedics (US firm offering organ preservation system). During summer 2007, 3i divested its interest in Care Principles (UK group specialising in hospital services). www.3i.com
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