ArchiMed acquires majority stake in Soest Medical Group

majority stake archimed smg

Specialist healthcare investor ArchiMed has acquired a majority stake in Netherlands-based Soest Medical Group (SMG) which produces adhesives used during surgery.

SMG has two brands: seller of reusable adhesives Eurotape and disposable adhesives provider Somed. Its revenues are growing at a rate of around 10 per cent annually, according to ArchiMed.

With ArchiMed’s backing, SMG will look for buy-and-build opportunities in a bid to consolidate the European operating theatre products sector. It also plans to launch a number of new products during the next 18 months.

“In SMG, we have identified one of the rare players in the surgical products sector that has developed a robust expansion strategy,” ArchiMed managing partner Robin Filmer-Wilson said. “We are thrilled to help them rapidly roll out their ambitious global development plan.”

ArchiMed closed its second fund at its €315m hard cap in September after just four months on the road. It passed its target by 26 per cent and was more than 1.5 times oversubscribed.