Latham & Watkins advises Ardian in its acquisition of a majority stake in the Santé Cie Group

Ardian, a world-leading private investment house, today announces that it has signed an agreement to acquire a majority stake in Santé Cie, a specialist in home medical assistance. Ardian will invest alongside HLD and UI Gestion, company shareholders since 2015, and the management team, to continue the consolidation of the French market and develop internationally. 

With this investment, Ardian will enter the home medical assistance market. It offers the group the opportunity to operate in a new, particularly attractive healthcare segment, while having a very positive social and societal impact. Santé Cie’s business addresses deep demographic, sociological and health challenges tied to an ageing population, an increasing prevalence of chronic illnesses, and a medical desertification in French rural areas.

Through its two operating networks, Elivie and Asdia, Santé Cie is among the most dynamic players in the home medical assistance sector in France. As a multi-specialist, it addresses the needs of patients in respiratory assistance, insulin therapy, perfusion, nutrition, post-operative care and wound treatment and healing. The company accompanies more than 150,000 patients annually and reported revenue of €240 million in 2019. It has nearly 1,700 employees and its 80 agencies offer services throughout France.

This transaction remains subject to antitrust approval and the opinion of the work council.

Latham is advising Ardian in this transaction with a team in Paris led by partner Gaëtan Gianasso, assisted by Timothée Brunello, Mayssa Sader, David Chatteleyn and Ornella Capillon on the corporate aspects.
Partner Xavier Farde advises on the financing aspects; Partner Frédéric Pradelles assisted by Laure Maes and Wenceslas Chelini, advise on the antitrust aspects; Partner Xavier Renard assisted by Yann Auregan, advise on the tax aspects; Romain Nairi, Célia Gallo and Agathe Flandre advise on the employment law aspects. Myria Saarinen, partner, assisted by Elise Auvray, Camille Dorval and Charlotte Guerin advise on the regulatory and data protection aspects of the transaction.