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Buyer landscape

Likely buyers · HealthTech in Spain.

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: 33% to sponsors, 64% to corporates and platforms, 1% via IPO, 1% other routes. Route shift since 2020: sponsors 23% (was 30%), corporates and platforms 67% (was 54%), IPO 8% (was 15%) (sector-wide).

The list: 25 Tier 1 · 0 Tier 2 of 120 matched buyers, including 14 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 · 24

Tier 1 · Very High · score 70+

2. Alantra Private Equity Healthcare Continuation Fund SponsorVery High87

5 platform investments in Healthcare · 16 in Spain · 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

3. Ring Capital SponsorVery High85

10 platform investments in Healthcare · 1 in Spain · 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

4. ArchiMed SponsorVery High84

56 platform investments in Healthcare · 2 in Spain · 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

5. Archimedes Partners SponsorVery High84

53 platform investments in Healthcare · 1 in Spain · 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

6. Merieux Equity Partners / Vitruvian Partners SponsorVery High84

57 platform investments in Healthcare · 2 in Spain · 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

7. ARCHIMED and Institut Mérieux SponsorVery High84

54 platform investments in Healthcare · 1 in Spain · 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

8. ArchiMed and Tethys Invest SponsorVery High84

54 platform investments in Healthcare · 1 in Spain · 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

9. EQT SponsorVery High80

50 platform investments in Healthcare · 13 in Spain · 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

10. 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

11. Bridgepoint SponsorVery High79

34 platform investments in Healthcare · 7 in Spain · 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

12. Alantra Private Equity SponsorVery High79

5 platform investments in Healthcare · 17 in Spain · 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.

Backed Health in Code, 2026 · HealthTech, Spain

13. Ardian SponsorVery High78

67 platform investments in Healthcare · 27 in Spain · 51 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

14. 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

15. Ardian Clean Energy Evergreen Fund SponsorVery High77

62 platform investments in Healthcare · 22 in Spain · 44 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

16. Ardian Mid Cap Buyout SponsorVery High77

62 platform investments in Healthcare · 22 in Spain · 42 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. Ardian (Clean Energy Evergreen Fund) SponsorVery High77

62 platform investments in Healthcare · 22 in Spain · 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

18. Ardian (ex-AXA Private Equity) SponsorVery High77

62 platform investments in Healthcare · 22 in Spain · 42 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

19. Ardian / Crédit Agricole Assurances consortium SponsorVery High77

62 platform investments in Healthcare · 22 in Spain · 42 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

20. Ardian + Tikehau Capital + EMZ consortium (Bpifrance + Amundi + Siparex) SponsorVery High77

62 platform investments in Healthcare · 22 in Spain · 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

21. Ardian and Centerbridge Partners SponsorVery High77

62 platform investments in Healthcare · 22 in Spain · 42 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

22. Ardian and GoldenTree Asset Management SponsorVery High77

62 platform investments in Healthcare · 22 in Spain · 42 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

23. Ardian and Latour Capital SponsorVery High77

62 platform investments in Healthcare · 22 in Spain · 42 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

24. Ardian Expansion SponsorVery High77

63 platform investments in Healthcare · 22 in Spain · 42 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

25. Ardian Expansion (Fund V) SponsorVery High77

62 platform investments in Healthcare · 22 in Spain · 42 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

Strategic buyers · 1

Tier 1 · Very High · score 70+

1. PsychPlus CorporateVery High88

5 acquisitions in Healthcare · 4 in Spain · 5 deals 2024–26

Active in Spain since 2026.

Bought Koa Health from Yaday, 2026 · HealthTech, Spain

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.