The aggressive, ongoing acquisition program is consolidating a fragmented industry and turning BOMI into a full-service, one-stop shop for international healthcare logistics.
January 25, 2021 – Through six acquisitions carried out between May, 2020 and January, 2021, healthcare logistics specialist BOMI Group is adding some 20 percent to its annual revenues. Going forward, annual revenues are expected to rise rapidly as cross selling opportunities within BOMI’s newly integrated product ranges and geographies are fully developed. ArchiMed, purchased BOMI in May, 2019 in partnership with the founding Ruini family and management (who hold a significant double-digit minority stake in the group) in a €100 million deal that saw the firm delisted from Borsa Italia’s AIM market.
“Our partnership with ArchiMed is providing BOMI with more freedom to pursue acquisitions and sector consolidation than would be possible in the short-term-oriented public markets,” says BOMI chief executive Marco Ruini. “ArchiMed’s industry connections and expertise were key components in prioritizing sectors, in sourcing, valuing, due diligencing and financing these acquisitions.” BOMI is held by ArchiMed’s MED Platform I, which is the largest healthcare fund based in Europe, after raising €1 billion through a final close in August.
Three of the acquired companies – all formerly direct competitors of BOMI – Logifarma, Consigliere and Autotransporti Gigliotti & Bergamin, reinforce BOMI’s position as Italy’s largest provider of transport, warehousing, and supply chain management for the healthcare industry. Two acquisitions, RH Logistics (UK-based) and Deco Pharma (Spain-based) expand BOMI’s pre-deal marginal presence – now major – in the UK and the Iberian Peninsula, with RH bringing new expertise and resources for handling the complex, rapidly expanding outsourcing of sophisticated medical equipment storage, transport, installation and demo activity. A further Italian purchase, Florence Shipping, gives BOMI a substantial, new presence in specialized global air freight forwarding, enabling access to the fast-growing clinical trial samples segment.
“We’re leveraging our team’s financial and operating expertise, supplemented by a network of over 200 associated senior healthcare professionals spread throughout the world [ArchiMed MedTalentsTM] to help BOMI’s management and staff build fast-growing, high-margin businesses,” says André-Michel Ballester, Managing Partner of MED Platform I. “We’re collaborating with management on a high-paced program of targeted acquisitions and we’re also helping BOMI find new customers.” Prior to joining ArchiMed in 2017, Ballester served as the CEO of listed medical device maker LivaNova, where he conducted 18 mergers and acquisitions, expanding operations in the U.S. and in emerging markets.
ArchiMed and BOMI are working on narrowing down a list of over 70 possible add-on transactions for BOMI and are in negotiations on three potential deals. The ArchiMed fund that holds BOMI, MED Platform I, partners with growth companies in the European and North American mid-cap healthcare sectors, buying majority stakes for €50 million to €500 million in association with existing owners and managers. MPI offers platform companies the strategic, tactical and financial resources they need to broaden product lines and expand geographically, accelerating growth through acquisitions.
Since it began investing in mid-2019, MED Platform I has acquired two platform companies in addition to BOMI: UK-based DHG, a developer of products for patients with mobility issues, and U.S.-based NAMSA, the global leader in outsourced services for clinical trials and healthcare-related testing of medical devices. Multiple buy-and-build acquisitions by all of these firms have already been completed. MED Platform I expects to announce a fourth major platform investment shortly.
About ArchiMed – www.archimed-group.eu
ArchiMed is a leading private equity firm focused exclusively on the healthcare industry. ArchiMed serves as a strategic and financial partner to European and North American small and middle-market businesses in targeted segments of healthcare, including pharmaceuticals, medical devices & technology, healthcare IT and consumer health. ArchiMed’s strategy is based upon healthcare specialization, integrated private equity, medical and operating expertise, and its unique trans-Atlantic platform that supports growth through internationalization.
Over the last 20 years, ArchiMed’s leadership team has directly managed and invested in over 40 small to large-size healthcare companies globally, representing over €5 billion of invested capital. ArchiMed currently manages nearly €2 billion in assets across four funds, small-cap focused MED I and MED II, gene & cell therapy focused PolyMED and mid-cap-focused MED Platform I. The latter is Europe’s largest healthcare fund at €1 billion. ArchiMed’s MED I 2014 vintage fund is the top performing buyout fund on a global level for its vintage, returning in excess of six times invested capital on a gross basis. ArchiMed is an impact investor and a signatory of the Principles for Responsible Investment, pledged to uphold the United Nations’ Sustainable Development Goals.
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