European specialist growth buyout investment firm, Verdane, has invested in and partnered with Medadom, a French teleconsultation provider, alongside the French sovereign fund, Bpifrance.
Founded in 2017, Medadom plays a central role in improving access to healthcare, particularly in medically underserved areas. The company enables patients to consult general practitioners online via web or mobile, as well as through a nationwide network of connected teleconsultation terminals installed across pharmacies, municipalities and other care-access points. It the first teleconsultation provider to receive accreditation from the French Ministry of Health and has established a leading position in the market facilitating more than 9 million teleconsultations. In addition to its pure digital offering, Medadom also operates 5,500 physical teleconsultation units in pharmacies and optical stores across France.
“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,” said Benoist de Saint Lager, senior investment director at Bpifrance. “Teleconsultations have proven to be an effective way to tackle healthcare accessibility issues, ease pressure on the healthcare system by increasing available medical time and relieve congestion in hospital emergency departments.”
The investment from Verdane – its first in France – 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.
“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,” said Moez Gharbi, partner at Verdane. “At the same time, it is encouraging to see French authorities taking thoughtful steps to improve access to care, particularly in underserved areas.”
As part of the transaction, Medadom founders Elie-Dan Mimouni and Nathaniel Bern regain majority ownership of the business as they partner with Verdane and Bpifrance to support the next stage of the company’s development.
“Verdane and Bpifrance’s investments mark a strategic milestone for Medadom,” said Mimouni. “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.”
Medadom’s former partner G Square Capital has realised its investment in the business. In 2020, G Square led a €40m Series A for the Paris-bed telemedicine start-up. Since G Square’s investment, Medadom has scaled its organic revenue driven by targeted investments in technology, talent and operations.
Norway-headquartered Verdane has extensive experience navigating regulated reimbursement environments and scaling technology-enabled healthcare platforms such as Pflegecampus, Evondos and Smartbox.
Houlihan Lokey served as the buyside advisor to Verdane
Press release: Verdane and Bpifrance partner with Medadom to expand access to healthcare services in France and across Europe – Verdane
