G Square exits French telehealth firm Medadom to Verdane and BPI
What's the deal? London-based healthcare private equity firm G Square has sold Medadom, a leading French telehealth platform, to Nordic investor Verdane, French public investment bank BPIDealroom has a profile for this one. Try Dealroom →, and the company's founders. The deal, announced on May 21, closes a five-year investment cycle that began in 2020.
G Square backed Medadom to accelerate growth through investment in technology, talent, and operations. Over that period, the company scaled its organic revenue significantly, though specific figures were not disclosed.
Why now? G Square invested at a pivotal moment — 2020, when the pandemic supercharged demand for remote healthcare. Five years later, digital health adoption across Europe has matured from a crisis response into a structural shift, giving the firm a natural exit window.
"Medadom is a remarkable business that has transformed how millions of patients across France access primary care," said Renaud Dessertenne, partner at G Square. "We are confident that, with Verdane's and BPI's support, the company will continue to go from strength to strength."
What could go wrong? Telehealth platforms across Europe face tightening regulation and reimbursement rules as governments try to balance cost savings with care quality. France's healthcare system is notoriously complex to navigate, and any policy shifts could affect Medadom's growth trajectory under its new owners.
The signal: G Square's exit after a five-year hold — entering at the height of pandemic-driven telehealth demand and selling into a more mature market — suggests that well-positioned digital health platforms can deliver returns even as the sector's initial hype fades. The incoming ownership mix of Verdane, a Nordic growth equity fund, alongside French state-backed BPI and the founders points to a long-horizon bet on telehealth as permanent healthcare infrastructure, underpinned by France's persistent primary care shortages in rural areas.
Read more: gsquarecapital.com
