Brown Gibbons Lang & Company (BGL), a leading investment banking and financial advisory firm, is pleased to announce the closing of the acquisition of a majority stake in Cardioline, a European cardiology diagnostics company and the European leader in cardiology-focused telemedicine, by ArchiMed, a trans-Atlantic private equity firm specializing in healthcare. BGL’s Healthcare & Life Sciences team initiated the transaction and acted as the exclusive financial advisor to Cardioline. The specific terms of the transaction were not disclosed.
Founded in 1962 and based in Trento, Italy, Cardioline is one of Europe’s most trusted brands for the manufacture and provision of traditional cardiology devices and services. Supplying 20 percent of hospital and 50 percent of physician demand for electrocardiogram machines in Italy, Cardioline is also Europe’s largest provider of cardiology-focused telemedicine. Using proprietary online technology and software, Cardioline offers sophisticated, remote cardiology testing and diagnostics for patients and the entities serving them, including physicians, pharmacists, hospitals, ambulance crews, and others.
Cardioline is currently rolling out its first software offering for clinical research applications with a focus on electrocardiograms. The new software offering will allow labs to respond to the increasingly pressing demands of the biotech and pharma industries by providing high-quality, cost-effective remote testing. Cardioline is the first purchase of ArchiMed’s MED III Fund, which closed on €650 million in August 2021, after less than two months of fundraising.
With offices in the U.S. and Europe, ArchiMed is a leading investment firm focused exclusively on the healthcare industry. Prioritized areas of focus include biopharmaceutical products & services, life science tools, medical devices & technologies, diagnostics, healthcare IT, and consumer health. ArchiMed manages over €3 billion ($3.4 billion) in healthcare assets across its various funds. Since its inception, ArchiMed has been a committed Impact investor, both directly and through its Eurêka Foundation.
BGL’s Healthcare & Life Sciences (HLS) investment banking team has decades of experience advising companies across the diagnostics and device landscape. We have provided capital formation, technology strategy, corporate ventures, and medical device M&A strategy for a wide range of diagnostics, research tools, and device companies. Additionally, we maintain active relationships with global industry participants and capital providers, and closely follow regulatory and reimbursement trends. Our sector involvement enables us to not only provide unique access to capital providers, but also identify and execute on strategic opportunities for our investment banking clients.
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