Dutch medtech firm Enovation acquired in €500 million deal

The French medical equipment producer Legrand is acquiring the Dutch health software company Enovation from its current owner, the private equity firm Main Capital Partners. Enovation did not mention any amounts in its announcement of the acquisition, but insiders told Bloomberg the deal involves over 500 million euros.

Enovation is a software-as-a-service company in the healthcare sector. It developed the Enovation Platform for digital healthcare and collaboration between different healthcare professionals working with a patient. "From early detection to remote monitoring, and everything in between," the company says. Main Capital Partners bought the Dutch medical software company in 2018, and since then, Enovation’s revenue has almost tripled to about 75 million euros in 2024.

Legrand believes the acquisition will benefit both companies. “The wider business of Enovation will provide Legrand Care with a new long-term growth engine,” Legrand CEO Chris Dodd said.

Enovation considers the acquisition a new chapter. “We are excited to join Legrand Care and serve our clients even better, as we now have access to a lot of new expertise as well as great international execution power,” said Enovation CEO Jeroen van Rijswijk.

The acquisition is still subject to regulator approval. The Dutch Authority on Consumers and Markets (ACM) has noted the proposed acquisition, but it is not yet clear when it will rule on it.