Context
Founded in 2017 with the support of Europe's leading Healthtech venture builder Kamet Ventures, Qare has been a pioneer in telemedicine, making teleconsultations widely available to the French market. It combines medical expertise with digital innovation to better serve patients and practitioners.
Today, Qare is widely recognized as one of the fastest growing and most successful companies in the French start-up ecosystem. It features in the FT120 list of France's 120 startups to watch.
With presence across the UK, Ireland and Germany, HealthHero was founded by investment firm Marcol Health and digital health entrepreneur Ranjan Singh. It is on track to become the largest digital telehealth player outside the US and China.
HealthHero’s acquisition of Qare marks the latest move in its expansion strategy across Europe, which has the largest telehealth market in the world. Following the acquisition of Qare, HealthHero’s offer now spans markets and services with direct-to-consumer, business-to-business and business-to-government channels. It provides GP support, prescription services, mental health consultations, musculoskeletal specialists.
This partnership will place HealthHero-Qare as the largest telehealth provider in Europe, covering 22 million individuals and providing just under 3 million consultations per year.
About Qare
Qare is the pioneer in making teleconsultation available to all in France. Its solution is accessible by all patients, all healthcare professionals, throughout the country, 7 days a week. Qare brings together more than 50 medical specialties to facilitate access to physical and mental care. For professionals, Qare allows them to monitor their patients remotely in a secure manner and to benefit from an initial and ongoing training offer. 95% of users, patients and professionals recommend Qare for the quality of its service. Qare is also developing a free digital therapy app, My Sherpa, which has already been downloaded more than 150,000 times and was named in the top 3 "personal development" apps by Google Play in 2020.
About HealthHero
HealthHero is a digital health provider that brings together human expertise and digital convenience to provide quality remote health consultations. It offers remote access to experienced doctors and expert clinicians directly to patients, insurance-policy holders and employees. HealthHero was founded by Ranjan Singh, an entrepreneur with over 20 years’ experience innovating an investing in sectors on the cusp of transformation, and investment firm Marcol. HealthHero provides a full spectrum of primary care services delivered through a suite of digital tools, and it is the preferred supplier for over 1,000 businesses, covering over 22 million individual lives and currently operates in the United Kingdom, Germany, the Republic of Ireland, and France.
Deal Team
Should you want to know more about this transaction, you can contact one of the team members above
Bryan, Garnier & Co acts as Sole Financial Advisor to French telemedicine leader Qare on its acquisition by European digital health provider HealthHero
Bryan, Garnier & Co acted as Sole Financial Advisor to Qare and its shareholders.
Bryan, Garnier & Co organized, prepared and led a competitive process involving many international trade buyers and financial sponsors able to develop and implement the right strategy and vision to take Qare to its next stage of development.
This transaction continues to demonstrate Bryan, Garnier & Co’s unparalleled expertise and track record with fast-growing technology-led companies in the healthcare segment. Notable other recent transactions include the merger between Medisys and Cityzen, the sale of BlueBee to Illumina, the acquisition of Maincare Solutions by Montagu Private Equity, the investment in CBA by Five Arrows Principal Investment, the sale of Olaqin from Ingenico Worldline to Andera Partners and the IPO of Voluntis. Bryan, Garnier & Co has also advised more than 15 transactions in the biotech sector since early 2020, including the USD 511m follow-on offering of BioNTech on Nasdaq.
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