Buyer landscape
Likely buyers · Pharma in Italy.
Prepared 2026-08-28 with GP Intel · deterministic scoring, published weights: gp-intel.com/methodology/league-tables
How companies like this sold · 81 verified exits: 41% to sponsors, 57% to corporates and platforms, 2% via IPO. Route shift since 2020: sponsors 41% (was 40%), corporates and platforms 56% (was 57%), IPO 2% (was 3%).
The list: 25 Tier 1 · 0 Tier 2 of 120 matched buyers, including 11 geographic expansion candidates without a local platform yet. A first round of the Tier 1 names plus the expansion buyers covers the demonstrated demand.
Financial buyers · 25
Tier 1 · Very High · score 70+
1. ARCHIMED and Institut Mérieux SponsorVery High86
54 platform investments in Healthcare · 6 in Italy · 19 deals 2024–26
AUM €9.0B · MED Rise · 2024 vintage · deploying · check €8-60M
18 platform investments since the 2024 vintage · largely deployed vs its usual 9 per fund.
Backed IRAB, 2026 · Pharma, Spain
2. ArchiMed SponsorVery High85
56 platform investments in Healthcare · 6 in Italy · 18 deals 2024–26
AUM €9.0B · MED Rise · 2024 vintage · deploying · check €8-60M
18 platform investments since the 2024 vintage · largely deployed vs its usual 9 per fund.
Backed IRAB, 2026 · Pharma, Spain
3. Archimedes Partners SponsorVery High85
53 platform investments in Healthcare · 6 in Italy · 21 deals 2024–26
AUM €9.0B · MED Rise · 2024 vintage · deploying · check €8-60M
18 platform investments since the 2024 vintage · largely deployed vs its usual 9 per fund.
Backed IRAB, 2026 · Pharma, Spain
4. ArchiMed and Tethys Invest SponsorVery High85
54 platform investments in Healthcare · 6 in Italy · 18 deals 2024–26
AUM €9.0B · MED Rise · 2024 vintage · deploying · check €8-60M
18 platform investments since the 2024 vintage · largely deployed vs its usual 9 per fund.
Backed IRAB, 2026 · Pharma, Spain
5. PAI Partners SponsorVery High80
24 platform investments in Healthcare · 16 in Italy · 26 deals 2024–26
AUM €33.0B · PAI Mid-Market Fund II · 2025 vintage · deploying
12 platform investments since the 2025 vintage · largely deployed vs its usual 10 per fund.
Bought Nuzoa from Abac Capital, 2025 · Pharma, Spain
6. Bpifrance Investissement SponsorVery High80
10 platform investments in Healthcare · 35 deals 2024–26
AUM €57.3B · Bpifrance Amorçage Industriel · 2023 vintage · deploying · check €1-8M
Accelerating: 30 deals in the last 2 years vs 4.5/yr before.
Backed Biogaran, 2026 · Pharma, France
7. Merieux Equity Partners / Vitruvian Partners SponsorVery High80
57 platform investments in Healthcare · 6 deals 2024–26
AUM €1.6B · Mérieux Participations 5 · 2026 vintage · deploying · check €7-50M
2 platform investments since the 2026 vintage · early in deployment vs its usual 8 per fund.
Backed CEVA Santé Animale, 2025 · Pharma, France
8. BC Partners SponsorVery High79
19 platform investments in Healthcare · 13 in Italy · 5 deals 2024–26
AUM €40.0B · BC Partners XII · 2025 vintage · deploying · check €44-330M
5 platform investments since the 2025 vintage · early in deployment vs its usual 12 per fund.
Backed InfoRLife, 2026 · Pharma, Switzerland
9. BC Partners / PSP Investments / Ontario Teachers SponsorVery High79
13 platform investments in Healthcare · 8 in Italy · 5 deals 2024–26
AUM €40.0B · BC Partners XII · 2025 vintage · deploying · check €44-330M
5 platform investments since the 2025 vintage · early in deployment vs its usual 12 per fund.
Backed InfoRLife, 2026 · Pharma, Switzerland
10. BC Partners + Intermediate Capital Group SponsorVery High79
13 platform investments in Healthcare · 8 in Italy · 5 deals 2024–26
AUM €40.0B · BC Partners XII · 2025 vintage · deploying · check €44-330M
5 platform investments since the 2025 vintage · early in deployment vs its usual 12 per fund.
Backed InfoRLife, 2026 · Pharma, Switzerland
11. BC Partners and AXA Private Equity SponsorVery High79
14 platform investments in Healthcare · 8 in Italy · 5 deals 2024–26
AUM €40.0B · BC Partners XII · 2025 vintage · deploying · check €44-330M
5 platform investments since the 2025 vintage · early in deployment vs its usual 12 per fund.
Backed InfoRLife, 2026 · Pharma, Switzerland
12. BC Partners Fund XI and CPP Investments SponsorVery High79
13 platform investments in Healthcare · 8 in Italy · 5 deals 2024–26
AUM €40.0B · BC Partners XII · 2025 vintage · deploying · check €44-330M
5 platform investments since the 2025 vintage · early in deployment vs its usual 12 per fund.
Backed InfoRLife, 2026 · Pharma, Switzerland
13. Quadrivio Group SponsorVery High79
6 platform investments in Healthcare · 28 in Italy · 14 deals 2024–26
AUM €2.0B · Artificial Intelligence PE Fund · 2025 vintage · deploying
6 platform investments since the 2025 vintage · mid-deployment vs its usual 6 per fund.
Backed Biotec Italia, 2025 · MedTech, Italy
14. Idia SponsorVery High77
12 platform investments in Healthcare · 1 in Italy · 27 deals 2024–26
AUM €2.4B · Crédit Agricole Assurances Avenir et Territoires · 2026 vintage · deploying · check €2-15M
5 platform investments since the 2026 vintage · early in deployment vs its usual 25 per fund.
Backed DELPHARM, 2024 · Pharma, France
15. Ring Capital SponsorVery High77
10 platform investments in Healthcare · 1 in Italy · 32 deals 2024–26
AUM €470M · Ring Altitude II · 2025 vintage · deploying · check €4-33M
17 platform investments since the 2025 vintage · largely deployed vs its usual 13 per fund.
Backed Dermascan, 2026 · HealthTech, France
16. SHS Gesellschaft für Beteiligungsmanagement SponsorVery High77
37 platform investments in Healthcare · 6 deals 2024–26
SHS VI · 2022 vintage · partially deployed · check €5-41M
12 platform investments since the 2022 vintage · largely deployed vs its usual 8 per fund.
Backed AMW, 2026 · Pharma, Germany
17. Turenne Groupe SponsorVery High76
55 platform investments in Healthcare · 1 in Italy · 34 deals 2024–26
AUM €2.0B · Capital Sante 3 · 2025 vintage · deploying · check €3-21M
20 platform investments since the 2025 vintage · early in deployment vs its usual 80 per fund.
Backed Destia, 2026 · Healthcare, France
18. NORD Holding SponsorVery High76
15 platform investments in Healthcare · 15 deals 2024–26
AUM €5.0B · NORD Holding all inclusive Fitness Continuation Fund · 2026 vintage · deploying
Accelerating: 13 deals in the last 2 years vs 2.5/yr before.
Backed NEC MED PHARMA GmbH, 2016 · Pharma, Germany
19. Ardian, Finint Infrastrutture SponsorVery High75
62 platform investments in Healthcare · 48 in Italy · 43 deals 2024–26
AUM €196.0B · Ardian Expansion Fund VI · 2025 vintage · deploying · check €64-480M
13 platform investments since the 2025 vintage · mid-deployment vs its usual 15 per fund.
Backed Recipharm, 2021 · Pharma, Sweden
20. Inflexion SponsorVery High75
10 platform investments in Healthcare · 27 deals 2024–26
AUM €11.0B · Inflexion Buyout Fund VII · 2026 vintage · deploying · check €90-675M
4 platform investments since the 2026 vintage · mid-deployment vs its usual 6 per fund.
Bought Primed from Paragon Partners, 2026 · MedTech, Germany
21. capiton VI SponsorVery High75
13 platform investments in Healthcare · 3 deals 2024–26
AUM €1.6B · capiton Quantum · 2023 vintage · deploying · check €5-37M
4 platform investments since the 2023 vintage · mid-deployment vs its usual 7 per fund.
Bought Dec Group from capiton, 2025 · Pharma, Switzerland
22. NORD Holding / Pinova Capital SponsorVery High75
12 platform investments in Healthcare · 12 deals 2024–26
AUM €5.0B · NORD Holding all inclusive Fitness Continuation Fund · 2026 vintage · deploying
Accelerating: 10 deals in the last 2 years vs 2.5/yr before.
Backed NEC MED PHARMA GmbH, 2016 · Pharma, Germany
23. Miura Partners SponsorVery High75
6 platform investments in Healthcare · 1 in Italy · 8 deals 2024–26
AUM €1.5B · Dent&Co · 2024 vintage · deploying · check €4-30M
7 platform investments since the 2024 vintage · largely deployed vs its usual 5 per fund.
Bought HTBA from LGT Private Debt, 2025 · Pharma, Spain
24. Armira SponsorVery High75
6 platform investments in Healthcare · 12 deals 2024–26
AUM €5.0B · Armira III · 2025 vintage · deploying · check €20-150M
8 platform investments since the 2025 vintage · mid-deployment vs its usual 10 per fund.
Backed almapharm, 2024 · Pharma, Germany
25. EQT SponsorVery High74
50 platform investments in Healthcare · 3 in Italy · 51 deals 2024–26
AUM €291.0B · EQT X · 2023 vintage · deploying · check €440M-3.3B
53 platform investments since the 2023 vintage · largely deployed vs its usual 11 per fund.
Backed Dechra Pharmaceuticals, 2024 · Pharma, UK
Scores and facts derive from verified deal records only; sample floors and thresholds are published on the methodology page. Figures marked with a tilde are bands, not disclosures.