16 January 2024

As part of the transaction, Sagard, which has been a shareholder of Healthy Group since its inception, will sell its majority stake. Ardian would become the new core shareholder, along with Bpifrance and MACSF, to support management in its project for growth and innovation project around the APRIUM service platform.

Ardian, a world-leading private investment house, announces its intention to acquire, alongside Bpifrance, MACSF and the management team, a majority stake in Healthy Group, the parent company of Aprium Pharmacie, France’s leading pharmacy banner, with over €1.6 billion in sales. Its CEO, Emmanuel Schoffler, and the management team will reinvest in the company.

Aprium Pharmacie has established itself as the leading pharmacy group in the French market, with a unique value proposition dedicated to pharmacists in terms of both health and business.

In addition to offering pharmacists best-in-class terms and conditions for health and parapharmacy products, Aprium is an integrated service platform focusing on three areas: (i) health, by supporting pharmacists as their advisory and preventive roles evolve, and as patients’ care pathways evolve, (ii) innovation, with a range of services and digital tools designed to boost pharmacy performance, and (iii) management of pharmacy teams, with a range of advice, training and follow-up services tailored to the needs of pharmacists and their teams.

Since its creation in 2016, Healthy Group has seen very strong growth in its Aprium Pharmacie network, which now has more than 470 pharmacies across France, and has enhanced its range of services to include a school for pharmacy assistants, omnichannel tools and category strategy, among others. This development has been driven by a strong, experienced management team led by Emmanuel Schoffler, CEO of Healthy Group, and by Aprium’s regional pharmacist partners. A comprehensive range of services, a decision-making structure that brings together pharmacists and business experts, and the launch of “Laboratoire Aprium” private label have all been key growth drivers, helping to build a strong brand identity that is recognised by pharmacists, patients and healthcare professionals alike.

Working alongside the management teams, Bpifrance and MACSF, the Growth team at Ardian will aim to accelerate the growth momentum of the pharmacy network by providing the resources Healthy Group needs to pursue its objectives of excellence and innovation, while keeping pharmacists and their patients at the heart of its priorities. This will be done through the sustained development of the services and advisory offering, the expansion of the digital tools and training made available and the continued development of the private label. With this new step, the management and Growth team at Ardian also aim to implement a proactive external growth strategy and to initiate international expansion.

The completion of this transaction is subject to prior information and consultation with Healthy Group’s employee representative bodies.

As a partner in the development of growth companies, we are delighted to support the leading French pharmacy banner in its ambitions. The company, led by Emmanuel Schoffler and his talented team, showcases the dynamism, innovation and excellence that characterize the sector champions we wish to back. In addition to our expertise in the healthcare sector, we will be putting our know-how in digital transformation and our international presence at the service of Healthy Group’s growth.” Alexis Saada, Head of Growth and Senior Managing Director, Ardian and Romain Chiudini, Managing Director Growth, Ardian

Right from our first meeting, I recognised in the Ardian team and its partners Bpifrance and MACSF, the ideal partner of tomorrow to help Healthy Group grow, increase its capacity for innovation and the relevance of its value proposition to Aprium pharmacists and their patients. Alexis and Romain’s focus on growth, their intimate understanding of the challenges facing pharmacists and their expertise in healthcare and build-ups were key factors in our desire to accelerate our discussions. That just goes to show how demanding we are when it comes to the quality of our reference shareholder, after 7 years of support from the SAGARD team, combining talent, loyalty and proximity in an extraordinary project” Emmanuel Schoffler, CEO, Healthy Group

Sagard is proud to have supported founding pharmacist Michael Sillam in the creation of Healthy Group in 2016, and then contributed alongside Emmanuel Schoffler and his team to the development of Aprium Pharmacie, the leading pharmacy banner in France. The management team showed resilience and ambition during the Covid crisis, which revealed the need for pharmacists to be supported by a player such as Aprium to meet the challenges of their digital and human transformation, as well as their new healthcare missions. As a result, Aprium Pharmacie’s sales are set to grow by more than 18% a year between 2019 and 2023. I am convinced that Healthy Group’s formidable management team will continue to work alongside Ardian, MACSF and Bpifrance to serve pharmacists and promote the Aprium brand.” Bérangère Barbe, Partner, Sagard

We are delighted to support the Aprium teams in this new phase of their development. With its strong regional presence and active deployment of new healthcare services, Aprium is fully in line with Bpifrance’s strategy in the healthcare sector.” Arnaud Legardeur, Investment Director, Bpifrance Midcap

We were attracted by Aprium’s positioning and the strength and dynamism of its management team. We are delighted to support and strengthen its position as a leading player in the field of pharmaceutical groups.” Jullian
Benbassat, Portfolio Manager, MACSF

In the context of the transaction, Sycomore Corporate Finance acted as financial advisor to Ardian, supported by Bpifrance and MACSF. The Sycomore team was composed of Tristan Dupont, Marion Camboulive and Malo Grosso.