Looking for insights on Medical Devices businesses in Europe

June 30, 2025

by a searcher in Aix-en-Provence, France

I’m currently exploring a deal in France (EBITDA ~€2M), active in the distribution of medical devices (Class I) across Europe. The company has strong recurring revenue, solid margins, and long-standing relationships with hospitals and clinics. There’s a limited dependency on a single supplier, but part of the value chain includes some proprietary or semi-proprietary products, which blurs the line between pure distribution and light manufacturing. 👉 I’d love to hear from other searchers or operators who looked at or acquired businesses in this sector, especially how to assess the risk exposure linked to suppliers or certifications. Feel free to DM if you prefer to share privately. Thanks.

Reply by a searcher
from Ludwig in München, Deutschland

Hey Sylvain, regarding certifications: Class 1 medical products are only internally certified and, by definition, low-risk devices. Your first check should be their system for Post-Market Surveillance (PMS) and Vigilance procedures, as well as all data they have collected and actions they have taken (probably even before DD or at the start of DD). If their products have been on the market for some time and you don’t find issues, you can assume you’re relatively safe. If you want to make a perfect DD, you could hire an ex-employee from a notified body (or any other consultant—there are many) to review their internal ISO###-###-#### and risk management procedures, including PMS. A common error is that they don’t actively search for customer feedback. If they do not have an ISO###-###-#### certification, you have to check—legally and technically—who is bringing the products to market. But as you describe it, with manufacturing involved, they should have it. If not, I would be concerned whether they could be replaced through verticalisation by their suppliers. Regarding the supplier: Not described precisely enough. Generally, you should check IP rights (normally not in place, but you could ask them to address it) and the availability of alternative suppliers.

Reply by a professional
from European Business School in Madrid, España

Sylvain, give me a call. I might be able to help you.

+5 more replies.

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