(Bloomberg) -- Advent International is considering reviving the sale of Dutch medical supplier Mediq as the private equity firm looks to cash out from the business, according to people with knowledge of the matter.
The US buyout firm is speaking to potential advisers and could seek a valuation of about €1 billion ($1.1 billion) for Utrecht-based Mediq, the people said. An auction process could be launched in the first half of next year, the people said, asking not to be identified as the information is private.
Deliberations are preliminary and Advent could still opt to keep the asset for longer, the people said. A representative for Advent declined to comment, while Mediq couldn’t be immediately reached for comment.
Mediq provides pharmaceuticals, medical devices and care services to medical centers and patients in 14 countries, according to its website. The company, started as a pharmacists’ buying cooperative in 1899, now has more than 2,500 employees. Mediq was delisted from the Amsterdam stock exchange in 2013 when Advent took it private for about €800 million.
Mediq has expanded overseas through a string of acquisitions under Advent’s ownership, with purchases including H&R Healthcare Ltd. in the UK and Puls AS in Norway. Advent had tried to divest the business before, with several buyout firms making binding bids for Mediq in 2020, Bloomberg News reported at the time.
Advent managed about $89 billion of assets as of the end of June 30. The buyout firm is also considering the sale of generic drugmaker Zentiva, in a deal that could value the former Sanofi unit at about €5 billion, Bloomberg News reported earlier this month.
©2024 Bloomberg L.P.