Winncare reorganizes its capital with a pool of investors led by Siparex ETI and Kartesia

To support its growth and international development, Winncare is reorganizing its capital with a new pool of investors. This transaction marks the reinvestment of Siparex ETI (majority shareholder since 2021), Crédit Agricole, and BNP Paribas Développement, as well as the entry of Kartesia as a new shareholder

On this occasion, the management team is strengthening its stake, while Capza and IDI are selling their shares. The transaction remains subject to the approval of the CSE (Works Council) and the competent regulatory authorities.

Chaired by Laurent Faugère, the Winncare group is a European leader in the design and manufacture of medical devices intended to improve the quality of life for people with a loss of autonomy, as well as for their caregivers and healthcare staff. Positioned in two strategic markets—home care and specialized facilities (nursing homes/EHPAD)—the group offers a comprehensive range of products and services: therapeutic mattresses and cushions for pressure ulcer prevention, connected fall detection solutions, medical beds, and transfer systems, among others.

In recent years, Winncare has significantly strengthened its offering, both through organic growth and acquisitions. Present internationally through five commercial subsidiaries (France, United Kingdom, Spain, Denmark, and Poland) and 12 production sites, the group now stands out as a leading player in Europe. Winncare has thus experienced a true change in scale, with revenue growing from €75m in 2021 to nearly €150m in 2025. This was notably driven by a proactive external growth strategy that enabled the acquisitions of Pharmaouest and Scemed in France, as well as Herida Medical and Five Mobility in the UK.

This new financing round aims to support the continuation of this growth trajectory. The pool of investors, led by Siparex ETI and composed of Kartesia, Crédit Agricole, and BNP Paribas Développement, will support management in accelerating the group’s strategy.
This strategy is built around international development, the continuation of an active external growth policy, and sustained organic growth within a favorable market environment, particularly by accelerating innovation.

For Alexandre Tremblin and Guillaume Rebaudet, Partners at Siparex ETI : "We are very pleased to continue supporting Winncare, alongside a management team that has demonstrated its ability to transform the group and its agility in conquering new markets. This new transaction should enable Winncare to reach a new milestone in its development, backed by an ambitious strategy of international expansion and external growth in a market underpinned by solid growth fundamentals. "

Laurent Faugère, President of Winncare, adds: "Thanks to the support of our shareholders and the strong dedication of all our teams, whom we would like to thank, the group has doubled in size over the last five years and strengthened its position in Europe, particularly in France and the UK. We have established solid foundations that now allow us to take a new step forward: our ambition is to accelerate our international presence through acquisitions, innovations, and investments in our sales force. We thank Siparex, Crédit Agricole, and BNP Paribas Développement for their renewed trust and are delighted to welcome Kartesia as a shareholder. "

Julien Rigon, Partner at Kartesia : "We have been truly impressed by the group's trajectory in recent years, driven by Laurent and his teams and effectively supported by Siparex. Winncare has demonstrated a combination of remarkable commercial momentum—driven by a positioning widely recognized by clients, patients, and caregivers in each of the countries where it operates—along with in-depth work on structuring the group and continuously improving its operations, and a coherent, valuegenerating external growth strategy. All these factors convinced us of the group's potential for the coming years, which we will be committed to supporting as effectively as possible, including by leveraging our pan-European presence to serve the international development of Winncare's activities. "

About Siparex: The Siparex Group is an independent French private equity specialist
with over 48 years of experience. Driven by strong organic growth and significant
acquisitions, Siparex manages more than €4.3 billion in assets.

The group supports companies in their growth and transformation. From start-ups to mid-caps (ETIs), it finances and supports major entrepreneurial ventures through its various business
lines: Private Equity, Venture Capital (XAnge), and Private Debt.

For more information: www.siparex.com .

Siparex Press Contact: Agathe Pierrefitte –a.pierrefitte@siparex.com – +33 (0)6 20 79 53 89

About Kartesia: Kartesia is an independent pan-European investment firm specializing
in providing customized support to leading mid-market companies by offering financing
solutions across the entire capital structure.

As such, Kartesia operates in a variety of sectors and aims to accelerate the responsible development of its portfolio companies.
It currently manages over €7.5 billion in assets and has 120 employees led by its
founders and partners. The organization has 8 offices across Europe: in Amsterdam,
Brussels, London, Luxembourg, Madrid, Milan, Munich, and Paris.

For more information: www.kartesia.com.

Kartesia Press Contact: H/Advisors Maitland – Vikki Kosmalska

Transaction Participants:

Management Laurent Faugère, Raphael Kokougan

Investors Siparex ETI – Alexandre Tremblin, Guillaume Rebaudet, Thomas Oillic,
François Bracchi
Kartesia – Julien Rigon, Alexis Midol, Clémence Demière
Crédit Agricole Socadif – Samya Glangetas
BNP Paribas Développement – Sandrine Prevost
Investor Advisors M&A Advisor: Amala – Jean-Baptiste Marchand, Benjamin Giner,
Tristan Sivadon, Clarence Pilliard, Gabriel Pace Investor

Legal Advisors: De Pardieu Broca Maffei – Matthieu Candia, Priscilla Van Den Perre, Baptiste Tigaud; Jones Day – David Swinburne, Léon Bousset, Pauline Bilfeld

Financing Advisor: Amala – Jad Sader,Damien Schaff

Financial Due Diligence: Deloitte – Frederique Chenevoy, Renaud Adam
Strategic Due Diligence: LEK – Arnaud Sergent, Jacky Banh
Legal, HR, and Tax Due Diligence: De Pardieu Broca Maffei – Matthieu Candia, Priscilla Van Den Perre, Baptiste Tigaud, Pierre-Alexandre Pujol, Laura Delas; Jones Day – David Swinburne, Léon Bousset, Pauline Bilfeld

Senior Debt
CACIB – Cheikh Ba, Arno Serre

Management Advisors
Coruscans – Frederic Balochard, Benjamin Lobel
Claris – Marie Isabelle Levesque, Antoine Gergo

Designed
& manufactured
in Europe
Strong brands
at the service
of all care settings
A comprehensive,
high-performing and inovative
product and services range
A certified
ESG-committed
company