CDG Invest PME sells majority stake in MedTech companies

MOROCCO – CDG Invest PME (CIP), a leading Morocco-based private equity firm and Techniques Science-Santé (T2S), IM Alliance, Cyclopharma and Binarios have announced the signing of an agreement for the sale of a majority stake in MedTech companies in Morocco to funds managed by Helios Investment Partners.

Founded in 1992 by M. Abderraouf Sordo as well as other managers, the Group has grown to become the leading medical equipment distributor and maintenance provider in Francophone Africa, generating revenues of EUR100 million (US$118.72m) in 2020.

“Today’s milestone is a testimony of the amazing work done by the employees of the Group for the last 30 years, whose dedication and hard work enabled us to gain the trust of both our clients and our suppliers,” Abderraouf Sordo, Founder and CEO of T2S, said.

“We are now partnering with Helios and are extremely excited about the next phase of our journey where we will continue our mission of enhancing the health care offering in the regions we serve.

“Over the last five years, our Company realised exceptional achievements and structural changes and we thoroughly enjoyed our experience with our private equity partners with whom we learnt a lot. I would like to extend our sincere thanks to our partners from CIP whose active implication helped us immensely in achieving the ambitious goals we set for ourselves.”

“This investment also enabled us to develop a unique expertise in the healthcare sector and we see plenty of investment opportunities to come in this field.”

Brahim Guessous – Partner, CIP

Through long-standing distribution agreements with leading Original Equipment Manufacturers (OEMs), the Group provides a diversified base of loyal customers with access to high-end MedTech equipment. Importantly, the Company has built a strong track record as a reliable partner by providing unique training, aftersales and maintenance support services, providing a strong base of recurring revenues.

“We have been honoured to be part of this amazing five-year journey with T2S. This investment has exceeded all our expectations in terms of value creation and we are pleased to have contributed to the transformation of a national SME into the undisputed regional leader in the Med-Tech equipment sector,” Brahim Guessous, Partner at CIP, said.

“We have enjoyed our intense partnership with M. Abderraouf Sordo and his team whose passion, vision and entrepreneurial spirit were key to the success of the Company. 

“This investment also enabled us to develop a unique expertise in the healthcare sector and we see plenty of investment opportunities to come in this field. Finally, we look forward to T2S’ bright future as it begins its new partnership with a new private equity investor.”

The closing of the transaction is subject to regulatory approvals and other customary conditions.

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