Bain, CD&R Are Said to Vie for Advent-Owned Health Firm Mediq

Bain Capital and Clayton Dubilier & Rice are competing in the final stage of bidding for Mediq, the Dutch health-care services provider owned by Advent International, people familiar with the matter said.

The private equity firms have made binding offers for the Utrecht-based business, the people said, asking not to be identified as the discussions are private.

Mediq has also drawn interest from other buyout firms including Triton and CapVest, the people said. Advent is working with advisers at Rothschild & Co. to gauge interest in the business, Bloomberg News reported in August.

No final agreements have been reached, and Advent could still decide to keep the business, they said. Representatives for Advent, Bain, CD&R, CapVest and Triton declined to comment.

A sale of Mediq would add to the $31.3 billion of deals targeting companies in Europe’s health-care sector in 2020, according to data compiled by Bloomberg. In July, KKR & Co. and Ardian SAS beat out rival bidders for Elsan, the French clinic chain backed by CVC Capital Partners.

Mediq provides pharmaceuticals, medical devices and care services to medical centers and patients in more than a dozen countries. The company, started as a pharmacists’ buying cooperative in 1899, now has about 3,000 employees. Advent bought Mediq for about 800 million euros in early 2013.

©2020 Bloomberg L.P.

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