Cinven acquires Theramex for €2.6bn as Carlyle and PAI secure exit
Cinven has agreed to acquire women's healthcare specialist Theramex from Carlyle and PAI Partners in a transaction valued at approximately €2.6bn, almost double the €1.4bn paid by the sellers four years earlier, according to a report by the Financial Times. Carlyle and PAI acquired London-based Theramex in 2022 and have since expanded its product portfolio, streamlined its supply chain and…
Cinven has reached an agreement to acquire women's healthcare company Theramex from Carlyle and PAI Partners, in a deal valued at around €2.6bn, nearly double the €1.4bn the sellers paid four years ago, according to the Financial Times. The acquisition comes as Carlyle and PAI have seen a profitable exit in the challenging European buyout market, where they have been under pressure to return capital to investors.
Theramex, based in London, specializes in women's healthcare treatments, including menopause, fertility, contraception, and osteoporosis, with operations in more than 80 countries across Europe, Asia, Africa, and Latin America. The firm's portfolio includes hormone replacement therapies and treatments addressing areas of significant unmet medical need.
Cinven plans to support Theramex's continued growth, particularly in underserved areas of women's health. The acquisition follows a series of significant European healthcare buyouts, including CapVest's €10bn purchase of Stada from Bain Capital and Cinven, and GTCR's €4.1bn acquisition of Zentiva from Advent International.
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- Cinven acquires Theramex for €2.6bn as Carlyle and PAI secure exit privateequitywire.co.uk
