Goldman Sachs Alternatives to Acquire Italian Medtech Firm Numantec in €700 Million Deal

Goldman Sachs Alternatives has agreed to acquire a controlling interest in the Italian medical equipment manufacturer Numantec from private equity firm White Bridge Investment. While the companies did not disclose financial terms, a person with knowledge of the matter told Reuters the deal values Numantec at approximately €700 million.

Deal Details and Rationale

The transaction, announced by the companies on July 27, reflects a strategic bet on the healthcare sector's stable revenues amid broader macroeconomic uncertainty. The acquisition provides Goldman's private equity arm with a significant asset in the medical device space.

The deal is expected to close in the fourth quarter of this year. JPMorgan served as the financial adviser to the seller, White Bridge, while Goldman Sachs International advised its own alternatives unit.

Numantec's Profile and Growth

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Based near Mantua, Italy, Numantec specializes in a range of healthcare products and drug-delivery devices. The company operates seven manufacturing facilities across Europe and the United States and employs about 600 people.

White Bridge Investment created Numantec through a series of acquisitions, a strategy that began with its 2021 investment in Delta Med, a manufacturer of vascular access devices. This buy-and-build approach expanded the company's footprint, culminating in its entry into the U.S. market last year with the purchase of rival Health Line International.

Future Outlook

Under the new ownership of Goldman Sachs Alternatives, Numantec is expected to pursue further expansion. The growth strategy will likely focus on continuing to build its presence across Europe while strengthening its position in the key U.S. market, according to the source familiar with the plans.