HBI Deals+Insights / M&A/IPOs

France’s healthcare PE deals soared between 2014 and 2023

This week’s infographic looks at healthcare private equity deals in France between 2014 and 2023, focusing on transactions valued at over $5 million. 

This data has been compiled by consultancy Mansfield Advisors and media company Mergermarket. The data covers all areas of health care (including pharma and medtech, as well as health care providers).

From 2014 to 2018, healthcare deal activity in France grew steadily. The period from 2019 to 2023, saw more rapid expansion, marked by a significant 17.4% compound annual growth in deals, indicating heightened investment interest in the sector. 

2021 and 2022 saw remarkable activity in healthcare PE deals in the country. In 2021, the sector recorded 82 deals, demonstrating strong investor confidence. This trend continued into 2022, with deal volumes reaching 86, further establishing France as a top destination for healthcare investment. Despite a slight decline compared to previous years, 2023 ranks as the third most active year in terms of deal volume over the past decade.

During the specified period, French PE firms were bidders in 72.6% of the deals (buyout and growth). Following closely, UK firms constituted the second-largest investor group in the market, accounting for 13.1% of PE healthcare deals.

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