The Liveo Group brings a highly capable supplier to the German homecare market specialising in the sophisticated, long-term care of chronically ill or impaired people in their home environment. Mannheim-based Medi-Markt Group and Unizell Medicare GmbH from Bad Schwartau are combining their strengths with the assistance of European private equity company Gimv.
The new Liveo Group’s service offering comprises a broad range of products and services required for domestic care and support such as absorbent or drainage incontinence products, care for stoma patients, care aids, diabetes products and enteral nutrition therapies as well as nursing courses, training and emergency call systems. The Liveo Group will employ over 450 people. The Group operates throughout Germany and will achieve total combined sales revenues of approximately EUR 150 million. The two merging company groups will retain their existing brand names.
Gimv acquired a majority in Medi-Markt as part of a succession plan in 2018. Since then, it has worked with management to continuously develop its offering and its market position, helping the company to achieve strong growth. The acquisition of the Saxony-based firm mediclean Home Care Service GmbH greatly expanded the supply of medical resources and consumables in the federal states of Eastern Germany and in the nursing sector. Since Gimv came on board the offering for patients has expanded, significant investments were made in digitisation, and sales revenues have jumped by around 70%. Thanks to this strong growth, Gimv has achieved returns above its long-term average targets throughout its entire investment period in Medi-Markt.
Under the more than 30-year leadership of its managing partner Jürgen van der Smissen, Unizell has developed into a successful full-service provider for homecare patients. The expansive, customer-centred portfolio comprises products, training courses, qualifications and personal support.
“The merger improves our performance and enables us to offer innovative digital solutions that make life easier for our customers, for patients, for caregiving relatives and for specialist staff, improving their use of our offerings. This step will make for even better care. Our employees are the key to our success. By combining their knowledge, we are laying a strong foundation for continued growth and development – for our customers, our employees and our shareholders”, explains Dr. Torge Doser, CEO of Medi-Markt and of the new Liveo Group.
This view is shared by Jürgen van der Smissen, Managing Partner of Unizell who will support the group as a significant minority shareholder and advisory board member following the transaction: “I am delighted to see two quality-leading suppliers now coming together whose philosophy centres around customers’ needs and desires and who complement each other perfectly. Together they are forming a group that stands for very similar values and that will be able to shape the homecare market even more actively than before, to everyone’s benefit.”
Philipp v. Hammerstein and Lars Timmer, Partner specialising in healthcare and Senior Principal at Gimv’s Munich office, add: “With Unizell, Medi-Markt has found the perfect fit. The Liveo Group will give even more people greater control over their day-to-day lives while improving the quality, efficiency and cost-effectiveness of their care. We look forward to assisting the Liveo Group with all our energy over the coming years.”
Gimv will hold a majority interest in Liveo and will continue to grow the group with Jürgen van der Smissen. The transaction remains subject to the usual official approval and is expected to be completed in the coming weeks. Upon completion, the Liveo Group will be among Gimv’s five largest portfolio companies.
