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Rabat – London based Helios Investment Partners, a private equity firm with operations in Africa, has concluded the acquisition of a majority stake of MedTech Group.
MedTec distributes medical devices and IVD (in vitro diagnostic) equipment, and produces pharmaceutical products. It comprises four companies, one of which is Techniques Sciences Santé, also known as T2S.
Helios has finalized the purchase of its stakes in T2S from CDG Investment Growth, a fund’s manager and private equity company, which had agreed on the acquisition of MedTech Group majority stake back in July.
Abderraouf Sordo, founder and CEO of the Group, said in a press release that “we fundamentally believe that this investment will help us realize our true potential as a combined company, cementing our leadership position in Morocco, as well as continuing to expand our network and capabilities across new markets in Africa”.
Read also: BBC: Morocco Has Potential to Become Key Player in Africa
Zineb Abbad El Andaloussi, partner at Helios, said that “the consolidation of the four companies forms the largest MedTech group in the region, well-positioned to support the strong growth potential of the underpenetrated healthcare market in Francophone Africa”.
The group now focuses on rapid growth of its activities in the healthcare market in French-speaking African countries and increased public and private investments.
Helios Investment Partners established in 2004 and is considered to be the largest private investment firm focused on French-speaking African countries as well as in the whole.
MedTech Group, founded in 1992 in Casablanca, is today one of the largest medical equipment providers in French-speaking Africa with $100 million (MAD 923 million) in revenues, according to the company’s managers.
