Old Mutual Private Equity successfully exits Medhold to Sanlam Private Equity

Old Mutual Private Equity (OMPE), part of Old Mutual Alternative Investments, said on Wednesday it has signed an agreement to exit Medhold, a leading supplier of world-class medical devices in Southern Africa, from OMPE Fund IV’s portfolio, to Sanlam Private Equity - the private equity division of Sanlam Investments. The transaction is subject to customary regulatory approvals, with completion expected in the fourth quarter of 2025.

Since OMPE’s initial investment in Medhold in 2018, the company’s earnings have grown by 2.6 times, highlighting the quality of Medhold’s management team and its ability to successfully execute the agreed strategic vision of building a world-class medical devices business in Southern Africa. Medhold’s product portfolio significantly expanded under OMPE's stewardship, particularly through strategic bolt-on acquisitions, reinforcing Medhold’s market-leading position in the provision of critical healthcare devices including anaesthetic delivery systems, orthopaedics, robotic assisted surgery, minimally invasive surgery, patient monitoring, cardiology, maternal infant care, infection control, surgical workspaces and electro-surgical equipment.

"Medhold has been an exemplary investment, showcasing our ability to identify leading businesses that can act as cornerstone assets to buy and build upon, to effect growth within essential industries in South Africa, whilst partnering with strong management teams," said Chumani Kula, co-head of Old Mutual Private Equity.

 “Our goal was always to significantly scale Medhold’s impressive customer offering and position the business as the pre-eminent medical devices player across Southern Africa. We enjoyed a strong partnership with a very high-quality management team and we are pleased to leave the company in a formidable position, primed for continued growth. We wish the CEO Matthew Stephens and the broader management team continued success in this next chapter, in partnership with Sanlam Private Equity." 

Matthew Stephens, CEO of Medhold, adds: "We have had the privilege of partnering with the OMPE team since July 2018. Their exceptional ability to quickly assimilate and evaluate strategic information in a dynamic, fast-paced industry has been instrumental to our sustained growth. Looking forward, we welcome the opportunity to work with the equally talented team from Sanlam Private Equity."

BUSINESS REPORT