Inflexion, a leading European mid‑market private equity firm, has agreed to acquire Primed Group, a specialist German provider of high-quality medical consumables and sterilisation services, from Paragon Partners, a DACH-focused private equity firm, for a rumoured €300m (US$343m).
The investment is being made by Inflexion’s Buyout Fund VI and represents Inflexion’s sixth investment in the DACH region.
“Primed has built a strong reputation through its high-quality product portfolio, integrated business model and long-standing customer relationships,” said Flor Kassai, managing partner and head of Buyout at Inflexion. “We are delighted to be partnering with the team to support the next phase of the company’s growth.”
Founded in 1946 and headquartered in Germany, Primed designs, manufactures and distributes certified single-use medical consumables. The business employs more than 450 people across a vertically integrated platform spanning the full value chain, from compounding to final sterile product. Its MDR-certified products are used in over 70 countries, supplying hospitals and medical care facilities. Primed also operates HA2, one of Europe’s largest medical sterilisation platforms.
“As Primed’s first institutional investor, we supported the company’s transition from an owner-led to a management-led business, establishing it as a genuine growth platform,” said Edin Hadzic, senior partner at Paragon. “We are proud of what they have built and wish Primed continued success as it enters its next chapter with Inflexion.”
The global market for single-use medical consumables is large and growing, giving Primed a strong platform to expand further in Germany and internationally.
“We are delighted to welcome Inflexion as our new partner,” said Daniel Schiel, CEO of Primed Group. “They bring significant experience in supporting ambitious businesses through their next phase of growth. Together, we look forward to building on Primed’s strong German heritage as we continue to expand internationally, invest in innovation and deliver high-quality products to hospitals and medical facilities worldwide.”
Under Inflexion’s ownership, Primed will continue to invest in its core product range, accelerate product development and drive further growth in its sterilisation business. Inflexion will support management in accelerating international expansion through targeted acquisitions and investments in commercial capabilities, strengthening Primed’s direct access to customers in key markets.
“Primed has significant opportunities to build on its leading market position,” said Andrew Neville, Healthcare partner, Inflexion. “Drawing on our experience helping healthcare businesses scale internationally through organic growth, strategic acquisitions, commercial excellence and new product development, we look forward to partnering with the management team as they expand the business and extend its global reach.”
Inflexion has partnered with healthcare leaders Wolfgang Suessle and Justin Barnes to complete the acquisition, with both joining Primed’s board of directors. Suessle brings more than 25 years of healthcare experience, including 15 years as CEO and president of Lohmann & Rauscher. Barnes has over 25 years’ experience in the medical device sector, having co-founded several businessesand held multiple senior leadership roles including CEO of 30 Technology and non-executive director of Rayner. They bring complementary expertise and a track record of scaling healthcare businesses to help execute Primed’s growth strategy.
This is Inflexion’s third healthcare investment in the region, following its minority investment in Proteros and its investment in Tierarzt Plus Partner. The acquisition further strengthens Inflexion’s presence in DACH, following the launch of Mittelstands-Assekuranz-Partner (‘MAP’), the carve out of Finanzen.net and the investment in dss+.
