Press release

Sparring Capital acquires a majority stake in Praticima

Sparring Capital announces the acquisition of a majority stake in Praticima alongside its management team.

Praticima, founded in 2014 through the merger between Praticdose, Cima and Adhesia Equipements, is the French leader in medication circuit and care flows management solutions for healthcare facilities (hospitals, clinics, nursing homes…) and medical equipment distributors.

With c.100 employees, 2 manufacturing plants in France – Reyrieux (Ain) and Avranches (Manche) -and a commercial footprint in 50 countries, the group expects to achieve €25m revenues in 2022.

Praticima designs and manufactures medical equipment, elaborated in partnership with healthcare professionals and designed by an integrated engineering department. Well-known for the innovativeness of its solutions, the group distinguishes itself from its competitors through its unique ability to meet specific requirements of its customers, such as the improvement of healthcare staff’s well-being and the safety of medication administration. Specifically, Praticima launched in 2018 a turnkey solution named “Pili”, 100% secured and functioning through a SAAS model, enabling the preparation of medication administration and improving compliance of treatments for tens of thousands of patients. Recently, the group developed “Satellite”, a multi-sensorial mobile care cart conceived in partnership with healthcare professionals and ergotherapists, which reproduces “Snoezelen” therapy for nursing home residents.

Backed by its new shareholder, Praticima ambitions to intensify its expansion by leveraging on its recent innovations and its international development. The implementation of an external growth strategy in France and abroad also represents a key development driver for the Group.

As part of the operation, Fabrice Léo, current general director, becomes CEO of the group and succeeds Régis Guitard, who stays as shareholder and keeps on supporting Praticima on strategic themes.

Fabrice Léo, Praticima’s new CEO, declares: “For over 15 years within the group, I have supported it through the many stages of its expansion, especially by participating in the foundation of Praticima in 2014. Together with the management team, we have established an industrial and commercial policy ensuring its leadership position within its market. Praticima is recognized as a key actor in France within its industry and can benefit from numerous partnerships with top-tier public and private healthcare institutions. The presence of Sparring Capital will further strengthen our development by supporting our innovation policy and our external growth initiatives, in France and internationally. “

Régis Guitard: “After many years with Fabrice Léo, I am glad he is becoming CEO of Praticima, a company with a very promising future thanks to the efforts undertaken since its creation in 2014. Sparring Capital team convinced me to accompany this new phase as a shareholder of the Group. I am glad to support them in the reflections which will enable Praticima to consolidate its position as a leader in the market of medication circuit and care flows management, the improvement of caregivers’ comfort and the management of dependency and old age”.

Arnaud Leclercq, CEO of Sparring Capital, commented: “Sparring Capital had been considering investing in the healthcare equipment sector for some time, especially considering the emphasis placed on the importance of reinvesting in our healthcare system. Praticima quickly appeared to us as an attractive opportunity considering its ability to provide significant innovation and the diversification of its distribution channels over the past few years, both of which being strong growth drivers going forward.”

Deal participants:

Sparring Capital

Arnaud Leclercq, Adrien de La Bouillerie, Raphaël Campion


Stage Capital: Laurent Allégot


Régis Guitard, Fabrice Léo, Fabien Mazarico, Stéphane Ouvrard, Florent Macarez

Sell-side M&A advisors

Lincoln International: François Rispoli, Charles Plassart, Guillaume Frantz

Sell-side legal advisors

HPML: Thomas Hermetet

Management legal advisors

Bruno & Associés: Jean-Manuel Bruno

Financial vendor due diligence

Ernst & Young: Karim Lasri, Marc-André Audisio, Anne Surut

Commercial vendor due diligence

Alcimed: Delphine Bertrem, Riwan Benard

Buyer legal advisors


Levine Keszler: Serge Levine, Rebecca Zbili, Pierre Plettener

Rossi Bordes & Associés: Fritz Rossi, Camille Gosselin, Pauline Thuet


Arsene Taxand: Frédéric Teper, Diane Kany, Claire Guillou


BRL Avocats: Nicolas Czernichow, Bamdad Razavi Nazer

Financial due diligence

Alvarez & Marsal: Benoît Bestion, Julien Szaleniec

Commercial due diligence

One Man Support: Karolyn Favreau

Other buyer advisors

Advance Capital: Olivier Bertron, Marie-Pierre Giraud