Houlihan Lokey Advises Palex Medical

Houlihan Lokey is pleased to announce that Palex Medical (Palex), a portfolio company of Apax Partners and Fremman Capital, has acquired Duomed Group (Duomed) from G Square Healthcare Private Equity (G Square). The combined group will significantly enhance its position as a truly pan-European platform, providing medical technology (MedTech) equipment and solutions across Northern, Western, and Southern Europe. The transaction closed on 3 October 2024.

Headquartered in Belgium, Duomed is a European MedTech distributor specialising in endoscopy, surgery, critical care, medical imaging, physiology monitoring, and infection control. With more than 50 years of experience, the company has developed a strong reputation focused on high-quality service and innovative products, spanning 17 therapeutic areas. Conditional upon the completion of the transaction, Duomed would continue to operate across value-added products, using its existing business model and go-to-market strategy, and would maintain its local identity and breadth of solutions for its customers via therapeutic area verticals and dedicated experts.

Palex, founded in 1955 by the Knuth family, is a company focused on the marketing, sales, and logistics of high-value-added MedTech equipment and solutions in the Spanish, Portuguese, and Italian markets. The company has a strong reputation for innovation, quality, and service, offers a wide product portfolio (150,000+ references) from world-leading, tier-1 manufacturers (600+ partnerships), and owns products across numerous therapeutic areas. Palex has 930+ employees, has a revenue forecast of €660 million in 2024, and is headquartered in Sant Cugat del Vallès (Barcelona, Spain).

Houlihan Lokey served as the exclusive M&A advisor to Palex in this transaction.

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