Eight Advisory advised on the merger of Medi-Markt Homecare GmbH with unizell Medicare GmbH to form Liveo Group

The Liveo Group brings a highly capable supplier to the German homecare market specialising in the sophisticated, long-term care of chronically ill or impaired people in their home environment. Mannheim-based Medi-Markt Group and Unizell Medicare GmbH from Bad Schwartau are combining their strengths with the assistance of European private equity company Gimv. 

The new Liveo Group’s service offering comprises a broad range of products and services required for domestic care and support such as absorbent or drainage incontinence products, care for stoma patients, care aids, diabetes products and enteral nutrition therapies as well as nursing courses, training and emergency call systems. The Liveo Group will employ over 450 people. The Group operates throughout Germany and will achieve total combined sales revenues of approximately EUR 150 million.  The two merging company groups will retain their existing brand names. 

Gimv acquired a majority in Medi-Markt as part of a succession plan in 2018. Since then, it has worked with management to continuously develop its offering and its market position, helping the company to achieve strong growth. The acquisition of the Saxony-based firm mediclean Home Care Service GmbH greatly expanded the supply of medical resources and consumables in the federal states of Eastern Germany and in the nursing sector. Since Gimv came on board the offering for patients has expanded, significant investments were made in digitisation, and sales revenues have jumped by around 70%. Thanks to this strong growth, Gimv has achieved returns above its long-term average targets throughout its entire investment period in Medi-Markt. 

Under the more than 30-year leadership of its managing partner Jürgen van der Smissen, Unizell has developed into a successful full-service provider for homecare patients. The expansive, customer-centred portfolio comprises products, training courses, qualifications and personal support. 

Gimv will hold a majority interest in Liveo and will continue to grow the group with Jürgen van der Smissen. The transaction remains subject to the usual official approval and is expected to be completed in the coming weeks. Upon completion, the Liveo Group will be among Gimv’s five largest portfolio companies. 

Eight Advisory team members supporting this transaction:  

• Financial due diligence: Marc Niclas (Partner), Marco Benkert (Manager), Matus Bonko (Manager), Hanka Selimovic (Senior), Aleksandr Zhukov (Senior) 

• Tax structuring & tax due diligence: Dominik Schmidt (Director), Lukas Walter (Manager)