Cityzen (a subsidiary of Groupe UP) and Medisys are publishers of software for health and social care organizations. Supported by investors Activa Capital, Turenne Santé and Groupe Up, Cityzen and Medisys are merging to form a 450-employee group that will become the leader in the French market for digital transformation and software solutions that support social action, medico-social and personal services.

It will provide services for the entire ecosystem: structures, care providers, users, families, local territories and funders. The new group’s software allows for 360° management of an individual’s care pathway. It is used by more than 80 departments (counties) in France and by around 11,000 private companies and local public-sector organizations.

The majority shareholder of the new Group is Activa Capital, which is already a Medisys shareholder. This investment is the first by its new fund, Activa Capital Fund IV. Activa Capital is supported in this transaction by Turenne Santé and Groupe UP, as well as existing Medisys shareholders and the management team.


About Medisys

Founded in 1991 and based in Aix-en-Provence, Medisys is a leading provider of vertical software solutions dedicated to health and social care providers in France. The company offers home care providers and retirement homes with dedicated care management and planning, accounting and mobility management solutions. Sold as subscription (SaaS) or on-premise, Medisys solutions have been tailored to its market based on decades of experience in the space.

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About Groupe Up

Up creates payment solutions and social and local services that enable companies and local authorities to improve the purchasing power and quality of life of employees and citizens. Up campaigns to promote access to healthier food, culture and leisure activities for all, as well as more responsible consumption. True to its cooperative model, Up contributes to a more sustainable society that places people at the heart of the economy. Established in nearly 30 countries, the group has 3,700 employees and in 2019 achieved a turnover of EUR 587 million.

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About Activa Capital

Activa Capital is an independent private equity firm, owned by its partners, characterized by a proactive build-up strategy. It currently manages more than EUR 300 million on behalf of institutional investors by investing in French SMEs and ETIs with high growth potential and an enterprise value of between EUR 20 and EUR 100 million. Activa Capital helps them to accelerate their development and international presence.

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About Turenne Capital

Turenne Capital Group is a French major player in Private Equity, supporting entrepreneurs in their projects of innovation, growth and buy-out for 20 years. Turenne Capital is an independent firm owned by its management, with €1 billion in assets under management. Its teams, 55 employees of whom 38 are investors, are based in Paris, Lille, Lyon, Marseille and Metz and have supported 250 businesses. They have a specific team dedicated to the Healthcare sector.

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Thibaut De Smedt

Investment Banking

Thibaut De Smedt photo

Guillaume Nathan

Investment Banking

Guillaume Nathan photo

Stanislas de Gmeline

Investment Banking

Stanislas de Gmeline photo

Deal Team

Should you want to know more about this transaction, you can contact one of the team members above

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