Buyer landscape

Likely buyers · Pharma in France.

Prepared 2026-08-28 with GP Intel · deterministic scoring, published weights: gp-intel.com/methodology/league-tables

How companies like this sold · 392 verified exits: 35% to sponsors, 60% to corporates and platforms, 4% via IPO, 1% other routes. Route shift since 2020: sponsors 31% (was 42%), corporates and platforms 65% (was 50%), IPO 2% (was 8%).

The list: 25 Tier 1 · 0 Tier 2 of 120 matched buyers, including 5 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 High92

54 platform investments in Healthcare · 13 in France · 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 High91

56 platform investments in Healthcare · 13 in France · 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 High91

53 platform investments in Healthcare · 12 in France · 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 High91

54 platform investments in Healthcare · 13 in France · 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. Bpifrance Investissement SponsorVery High90

10 platform investments in Healthcare · 89 in France · 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

6. Turenne Groupe SponsorVery High84

55 platform investments in Healthcare · 311 in France · 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

7. Idia SponsorVery High84

12 platform investments in Healthcare · 126 in France · 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

8. Ring Capital SponsorVery High84

10 platform investments in Healthcare · 52 in France · 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

9. Merieux Equity Partners / Vitruvian Partners SponsorVery High82

57 platform investments in Healthcare · 33 in France · 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

10. UI Investissement SponsorVery High82

14 platform investments in Healthcare · 41 in France · 11 deals 2024–26

AUM €1.7B · Cap Autrement · 2023 vintage · deploying