Houlihan Lokey Advises Verdane Capital

Houlihan Lokey is pleased to announce that Verdane Capital (Verdane), the European specialist growth buyout investment firm, has agreed to invest in and enter into a partnership with Medadom, a leading French teleconsultation provider, alongside Bpifrance, the French sovereign fund.

Verdane is a specialist growth buyout investment firm that partners with tech-enabled, sustainable businesses that help digitalise and decarbonise the European economy. The company has raised €9 billion in capital and has made more than 200 investments in fast-growing businesses since 2003. Verdane’s team of more than 150 investment professionals and operating experts is based in Berlin, Copenhagen, London, Helsinki, Munich, Oslo, and Stockholm, and combines deep sector expertise with long-standing local networks and a presence in core European markets.

Bpifrance Investissement is the management company that handles Bpifrance’s equity investments. Bpifrance is the French national investment bank: It finances businesses at every stage of their development through loans, guarantees, equity investments, and export insurance. The company also provides extra financial services (training, consultancy) to help entrepreneurs meet their challenges (innovation, export).

Founded in 2017, Medadom has played a pioneering role in shaping teleconsultation in France. The company was the first teleconsultation provider to receive accreditation from the French Ministry of Health and has established a leading position in the market through a high-quality, secure, and accessible model of care.

The investment will support Medadom in expanding access to healthcare services in France and across Europe, broadening its service to include additional care verticals and further strengthening its medical governance and technology platform. Over time, the partnership is also intended to support a measured expansion into other European markets, building on the company’s established position in France.

As part of the transaction, Medadom founders Eliedan Mimouni and Nathaniel Bern regain majority ownership of the business, partnering with Verdane and Bpifrance to support the next stage of the company’s development. Medadom’s former partner, Gsquare Capital, has realised its investment in the business.

Eliedan Mimouni, Co-Founder of Medadom, said, “Verdane and Bpifrance’s investments mark a strategic milestone for Medadom. Their combined expertise in healthcare and technology will enable us to create even greater value for patients, our partner pharmacists and opticians, as well as for the physicians practicing on our platform, while further consolidating a demanding, responsible model centred on the quality of medical care delivery.”

Moez Gharbi, Partner at Verdane, said, “Our in-depth analysis of the healthcare technology sector made it clear that Medadom stands out as a trusted, scalable leader in telehealth. Its distinctive model combines medical excellence with accessible, technology-enabled care. We have been particularly impressed by the powerful flywheel inherent to its unique digital and phygital approach, the strength of its governance, and its clear commitment to responsible healthcare delivery. We look forward to working closely with Eliedan, Nathaniel, and the wider Medadom team, along with Bpifrance, to invest in the company’s continued growth.”

Benoist de Saint Lager, Senior Investment Director at Bpifrance, said, “Our investment in Medadom is fully aligned with our investment thesis: addressing the major societal challenge of providing healthcare access for everyone across the country. As Medadom’s partner, Bpifrance aims to support the long-term development of its teleconsultation offer in France, where there is still significant room for market penetration improvement when compared with some European neighbours that are currently more advanced in the telehealth field.”

The investment in Medadom marks Verdane’s first investment in France, a natural step for the firm as it continues its European growth investment strategy. Completion of the transaction is expected later in 2026, subject to customary regulatory approvals and closing conditions.

Houlihan Lokey served as the buyside advisor to Verdane and was mandated for its strong track record and expertise in the tech and healthcare spaces, as well as its international footprint and local coverage.

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