Médica is one of Europe’s largest private operators of nursing homes, providing facilities to individuals (typically over 85 years of age) requiring dependence-related or post-operative care. It is the market leader in France and Italy in two sectors – nursing homes and convalescent and rehabilitation centres, and psychiatric clinics.
Bridgepoint was attracted to the company and the sector by Médica's well-regarded management team, favourable demographic trends that would see demand increase in the medium term and a market open to consolidation. Bridgepoint believed that Médica represented a significant platform investment that would drive the consolidation of its sector and expected it to achieve strong external growth through selective add-on investments, as the business already had a proven track record of succesful intergration of acquisitions.
Médica was sold to BC Partners in 2006 in a transaction totalling €750m which resulted in Bridgepoint achieving a significant money multiple on its original investment.