- A boost for Enovacom, the health division of Orange Business Services, to achieve its ambition to become one of France’s leading digital health companies
- An opportunity to generate new business opportunities and enhance investment in the e-health market, both in France and across Europe
Through its Orange Digital Investment holding, the Orange Group has decided to invest in the Digital Health 2 (DH2) fund of LBO France — a major player in the private equity sector in France. The DH2 fund plans to invest €200 million in e-health SMEs, such as QuantifiCare, Tribvn Healthcare, FeetMe and Meditect, dedicated to B2B in the growth phase in France and Western Europe.
Convinced of the potential of the e-health market, undergoing transformation thanks to the benefits of digital technology, Orange is providing additional resources to DH2 with a view to develop innovative e-health companies in France and Europe.
This initiative will have a positive impact both for the companies selected by the DH2 fund management team and for the entire e-health ecosystem.
This will enable for both holding companies and investors alike :
- the development of more operational synergies in pursuit of innovation,
- an active contribution to the development of an area of excellence in the e-health field and the strengthening of Orange’s strategic positioning in this regard.
By investing in a dynamic fund, managed by a recognized management team that is open to cooperation with the Orange Group, Enovacom sees an opportunity to consolidate its privileged access to the innovative e-health ecosystem.
“We are very pleased with the confidence that Orange has placed in us. The presence of a global operator, integrator of digital services, and a pioneer in e-health within the DH2 fund, is a definite advantage for the portfolio companies. Enovacom will also inevitably promote the co-construction and growth of innovative companies capable of becoming world champions of e-health,” said Valéry Huot, Partner, Head of Venture at LBO France..
“The adventure continues with DH2 (LBO France), a fund in which, together with the operational team, we have found a real understanding of our common challenges when it comes to e-health. We are convinced that DH2’s management team will be able to identify and support the hidden gems of the e-health industry to make companies both currently in the portfolio and those of tomorrow major players in e-health. This investment in DH2 will enable Enovacom to strengthen the ecosystem, accelerate synergies and build alliances to address e-health issues,” ,” added Laurent Frigara, Deputy CEO of Enovacom (Orange Business Services).
Beyond the expected financial performance of the investment and its contribution to the dynamism of the e-health market, the prospects for cooperation with all DH2 stakeholders should support the development of the Group’s offerings in this area, and in particular those of the new health division of Orange Business Services, led by Enovacom,” said Maï de la Rochefordière, Deputy CEO of Orange Digital Investment.