Likely buyers · HealthTech in Italy.

1. Ring Capital SponsorVery High87

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

2. ArchiMed SponsorVery High83

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 Arkstone, 2025 · HealthTech, US

3. Archimedes Partners SponsorVery High83

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 Arkstone, 2025 · HealthTech, US

4. ARCHIMED and Institut Mérieux SponsorVery High83

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 Arkstone, 2025 · HealthTech, US

5. ArchiMed and Tethys Invest SponsorVery High83

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 Arkstone, 2025 · HealthTech, US

7. Alantra Private Equity Healthcare Continuation Fund SponsorVery High81

5 platform investments in Healthcare · 5 deals 2024–26

AUM €720M · Alantra Private Equity Fund IV · 2023 vintage · deploying

5 platform investments since the 2023 vintage · largely deployed vs its usual 4 per fund.

Bought Health in Code from Alantra Private Equity, 2026 · HealthTech, Spain

8. 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 Health in Code, 2026 · HealthTech, Spain

9. NORD Holding SponsorVery High80

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 Medas Group, 2026 · HealthTech, Germany

10. 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

11. NORD Holding / Pinova Capital SponsorVery High78

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 Medas Group, 2026 · HealthTech, Germany

12. PAI Partners SponsorVery High77

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

13. 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 Bow Medical, 2023 · HealthTech, France

14. EQT SponsorVery High76

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 CluePoints, 2024 · HealthTech, Belgium

16. 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 Dedalus, 2020 · HealthTech, Italy

17. Bpifrance Investissement SponsorVery High75

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 Adcendo, 2026 · Biotech, Denmark

18. 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

19. G Square Healthcare PE SponsorVery High75

28 platform investments in Healthcare · 2 in Italy · 4 deals 2024–26

AUM €3.3B · G Square Capital CV · 2022 vintage · partially deployed · check €10-75M

8 platform investments since the 2022 vintage · largely deployed vs its usual 5 per fund.

Backed Pharmacy2U, 2026 · HealthTech, UK

20. Lauxera Capital Partners SponsorVery High75

16 platform investments in Healthcare · 6 deals 2024–26

AUM €780M · Lauxera Growth II · 2025 vintage · deploying · check €10-78M

3 platform investments since the 2025 vintage · early in deployment vs its usual 8 per fund.

Backed Natural Cycles, 2024 · HealthTech, Sweden

21. Impact Expansion Management SponsorVery High75

5 platform investments in Healthcare · 10 deals 2024–26

AUM €150M · Impact Expansion Fund I · 2024 vintage · deploying · check €3-23M

10 platform investments since the 2024 vintage · largely deployed vs its usual 8 per fund.

Backed neurocare, 2025 · HealthTech, Germany

22. Bridgepoint SponsorVery High74

34 platform investments in Healthcare · 2 in Italy · 43 deals 2024–26

AUM €86.6B · Europe VIII (BE VIII) · 2026 vintage · deploying · check €120-900M

4 platform investments since the 2026 vintage · early in deployment vs its usual 20 per fund.

Bought {my}dentist (formerly IDH) from Palamon Capital Partners, 2025 · Healthcare, UK

23. Idia SponsorVery High74

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 GROUPE BIOCLINIC, 2019 · HealthTech, France

24. Inflexion (Partnership Capital III) SponsorVery High74

9 platform investments in Healthcare · 25 deals 2024–26

AUM €11.0B · Inflexion Buyout Fund VII · 2026 vintage · deploying · check €90-675M

Accelerating: 15 deals in the last 2 years vs 5.0/yr before.

Backed Primed, 2026 · MedTech, Germany

25. Charterhouse Capital Partners SponsorVery High74

11 platform investments in Healthcare · 4 in Italy · 10 deals 2024–26

AUM €7.0B · Charterhouse Capital Partners XI · 2023 vintage · deploying · check €28-210M

10 platform investments since the 2023 vintage · mid-deployment vs its usual 14 per fund.

Backed Animalcare Group, 2026 · Healthcare, UK

6. PsychPlus CorporateVery High82

5 acquisitions in Healthcare · 5 deals 2024–26

Bought Koa Health from Yaday, 2026 · HealthTech, Spain

15. Thermo Fisher Scientific CorporateVery High76

8 acquisitions in Healthcare · 5 deals 2024–26

Accelerating: 5 deals in the last 2 years vs 0.8/yr before.

Bought Clario from Astorg, 2026 · HealthTech, US