The Public Sector Pension Investment Board and investment manager Partners Group will acquire Cerba HealthCare, a European medical laboratory services operator, from private equity firm PAI Partners.

Headquartered in Paris with strong market positions in France, Belgium and Luxembourg, Cerba focuses on routine lab tests, specialty lab testing for more complex diagnoses and testing services for clinical trials. It employs almost 4,300 people, including 350 biologists, and generated revenues of about EUR 630 million in 2016.

A news release noted that, following the completion of the acquisition, PSP Investments and Partners Group will work with Cerba’s management team to support growth opportunities for the business, including the continuation of the company’s mergers and acquisitions strategy in the French market and internationally.

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“Cerba has enjoyed tremendous growth in the past decade. When we approached the transition to new ownership, we focused on finding partners who would not only support a continuation of this pace of growth, but could also bring valuable support in international development,” said Catherine Courboillet, chief executive officer of Cerba HealthCare, in the release.

“We believe we have found the right partners in Partners Group and PSP Investments and look forward to working together with them to further build on Cerba’s market-leading position.”

“Cerba has developed a unique positioning in its markets on the back of its widely recognized medical and industry expertise and we are excited about the growth prospects of the company,” said Simon Marc, managing director of private equity (Europe) at PSP Investments. “As a provider of long-term strategic capital, we look forward to working with Partners Group, Catherine and the management team to support Cerba’s growth in France and internationally.”

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Copyright © 2020 Transcontinental Media G.P. Originally published on benefitscanada.com

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