Several acquisitions and roll-out beyond France have helped us secure growth and build recurring revenues. We couldn’t have achieved this without Milestone’s help.Pascal Albert-Petit, CEO
| Location |  |
|---|---|
| Date of investment | Feb 2004 |
| Activity | Homecare products for the elderly |
| Investment Size | €20.0m |
| Type/stage | MBI / Buy and build |
| Revenues | €40.0m |
| Transaction Size | Not disclosed |
| Management Team |
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| Milestone Board Members |
The Business
Winncare supplies homecare products for dependent people and the elderly in France and other European countries. In February 2004, Winncare acquired Asklé Santé - the french market leader for bed sore prevention products, offering a complete range of mattresses, cushions and comfort accessories for the prevention of pressure sores. Asklé has developed a strong proprietary know-how and is the only manufacturer to have a complete range of products that spans three leading-edge technologies: (i) polyurethane foam technology, (ii) gel technology and (iii) cells-based supports-static air.
In July 2004, Winncare acquired Medicatlantic, the French market leader of homecare medical furniture and equipment (beds, wheelchairs and patient lifting products).
In July 2005, Winncare acquired Virmedic, Asklés Spanish distributor and a manufacturer of patient lifting equipment.
Value Added Steps Planned
- Increase revenues to the homecare market segment from 20% to 50% of total revenues. Today, Winncare generates 35% of its revenues from homecare and is on course to achieve the 50% target in 2011;
- Develop an integrated offer of beds and mattresses to the retirement market. As of 31 March 2010, this is part of a successful sales offering, alongside cleaning and maintenance services that will be developed in 2011; and
- Build a group with €50 million revenues and €6 million EBITDA. This is on course to be achieved in 2011/12.