Buyer landscape

Likely buyers · Biotech 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 · 25

Tier 1 · Very High · score 70+

1. 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 Ona Therapeutics, 2026 · Biotech, Spain

2. ArchiMed SponsorVery High81

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 ExcellGene, 2025 · Biotech, Switzerland

3. Archimedes Partners SponsorVery High81

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 ExcellGene, 2025 · Biotech, Switzerland

4. ARCHIMED and Institut Mérieux SponsorVery High81

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 ExcellGene, 2025 · Biotech, Switzerland

5. ArchiMed and Tethys Invest SponsorVery High81

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 ExcellGene, 2025 · Biotech, Switzerland

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 Adcendo, 2026 · Biotech, Denmark

7. Alantra Private Equity Healthcare Continuation Fund SponsorVery High80

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

8. 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

9. Ardian SponsorVery High78

67 platform investments in Healthcare · 27 in Spain · 51 deals 2024–26