CAISSARGUES: Groupe Bastide has signed an agreement to sell its subsidiary New Medical Concept, the holding company of the French home infusion and clinical nutrition provider EXPERF, to Italy’s Sapio Group, a statement said.
The transaction aligns with Bastide’s strategy of active portfolio management and asset rotation, allowing the company to capture value created since it acquired EXPERF in 2017. Over that period, EXPERF’s revenue more than doubled to €42 million in the 2024–2025 fiscal year, from approximately €18 million in 2017. The unit now operates 28 agencies across France, up from more than 15 locations at the time of acquisition.
The all-cash deal will strengthen Bastide’s financial structure, supporting continued deleveraging and reducing financial expenses. The company said its post-IFRS 16 financial leverage ratio is expected to stand slightly above 2.5x following the transaction, compared with 2.77x as of Dec. 31, 2025.
Bastide said the disposal will not have a material impact on reported revenue for the current fiscal year ending June 30, 2026. The company reaffirmed its full-year guidance of at least €510 million in revenue and an operating margin of around 9.0%.
Completion is subject to customary conditions, including consultation with employee representative bodies.
Oddo BHF served as exclusive financial advisor to Groupe Bastide, with ADVANT Altana as legal advisor. Sapio Group was advised by Goodwin Procter LLP and Eight Advisory. Marsh supported insurance due diligence.
“This acquisition marks another important milestone in our strategy which aims at delivering sustainable growth in Europe, particularly in the healthcare sector,” said Mario Paterlini, CEO of Sapio Group. “With its well-established footprint across France, EXPERF will be a booster to our consolidation strategy and expansion in the country.”
Vincent Bastide, chairman and CEO of Groupe Bastide, said the transaction demonstrates the company’s ability to maximize and realize value from its assets through disciplined rotation. “This transaction is fully in line with our ongoing commitment to deleveraging the Group, while supporting EXPERF in its next phase of development under its new shareholder,” he said.
Founded in 1977, the home healthcare provider operates in eight countries and is listed on Euronext Paris.
The Italian multinational, controlled 51% by the Dossi and Colombo families and 49% by Air Products and Chemicals (USA), operates in industrial and medicinal gases and home care across nine countries, including France, where it already runs Homeperf, Synapse and Synartis. Following the acquisition, Sapio said its France revenue will exceed €140 million, and group turnover will top €1 billion.
