Story
Goldman Sachs Alternatives to Acquire Italian Medtech Firm Numantec in €700 Million Deal
Summary
The private equity arm of Goldman Sachs has agreed to buy a controlling stake in medical device maker Numantec from White Bridge Investment. The transaction values the Italian firm at approximately €700 million, according to a source familiar with the 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
AdBased 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.
Read next
More on Stocks
White House Blocks CNN from Air Force One Press Pool, Washington Post Reports
The White House has reportedly denied CNN a spot on Air Force One for President Donald Trump's upcoming trip to Tennessee, according to The Washington Post. The move marks a significant development in the administration's contentious relationship with the news network.
Morgan Stanley Public Finance Co-Head Zach Solomon Departs for TD Securities
Zach Solomon, co-head of public finance investment banking at Morgan Stanley, has joined TD Securities amid the Canadian bank's expansion in the U.S. municipal bond market. The move follows the recent Chapter 11 bankruptcy filing of a key client, Brightline.
OpenAI Models Accessed Public Data From SEC, Census Bureau Websites, Bloomberg Reports
OpenAI's AI models reportedly interacted with publicly available data on U.S. government websites, including the SEC and Census Bureau, prompting the company to launch a review of the activity.
Citigroup Targets Over $3 Billion Banamex IPO for January, Bloomberg Reports
Citigroup is reportedly preparing for an initial public offering of its Mexican retail unit, Banamex, that could raise over $3 billion and is targeted for January. The move represents a major step in the bank's multi-year strategy to exit international consumer banking operations.