- 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.
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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," saidMaï de la Rochefordière, Deputy CEO of Orange Digital Investment.
About Orange
Orange is one of the world's leading telecommunications operators with sales of 42 billion euros in 2019 and 143,000 employees worldwide at 30 September 2020, including 83,000 employees in France. The Group has a total customer base of 257 million customers worldwide at 30 September 2020, including 212 million mobile customers and 21million fixed broadband customers. The Group is present in 26 countries. Orange is also a leading provider of global IT and telecommunication services to multinational companies, under the brand Orange Business Services. In December 2019, the Group presented its new "Engage 2025" strategic plan, which, guided by social and environmental accountability, aims to reinvent its operator model. While accelerating in growth areas and placing data and AI at the heart of its innovation model, the Group will be an attractive and responsible employer, adapted to emerging professions.
Orange is listed on Euronext Paris (symbol ORA) and on the New York Stock Exchange (symbol ORAN).
For more information on the internet and on your mobile: www.orange.com, www.orange-business.com or to follow us on Twitter: @orangegrouppr.
Orange and any other Orange product or service names included in this material are trademarks of Orange or Orange Brand Services Limited.
About Enovacom
Enovacom joined Orange Business Services in 2018, and since October 1, 2020, consolidates all of its B2B activities dedicated to the health sector. With 250 experts based in Marseille, Paris, London and Montreal, Enovacom offers software and services dedicated to e-health to support healthcare establishments in their digital transformation. The expertise of Orange Business Services in network, cyber, cloud, IoT, analytics and consulting means that it can support healthcare providers throughout the data journey. Enovacom is a key player in projects involving innovation and cooperation with the entire ecosystem to develop new services and use cases. Enovacom has more than 1'600 public sector customers.
About LBO France
As a key player in private equity with €6.2bn of commitments, LBO France is an independent company that has been supporting French and Italian companies in their growth for more than 30 years. Its investment strategy is built on 4 distinct segments managed by dedicated teams: (i) Mid Cap Buyout through the White Knight funds and Small Cap Buyout through the Hexagone/Small Caps Opportunities funds, (ii) Venture Capital through the SISA/Digital Health funds, (iii) Real Estate through the White Stone and Lapillus funds, (iv) Debt. Historically focused on Institutional and Family Office investors, LBO France has recently launched the FCPR White Caps Selection, a private equity fund accessible to individuals through multi-strategy funds. LBO France is 100% owned by its management and employs nearly 60 professionals.
Find out more: www.lbofrance.com
View source version on businesswire.com: https://www.businesswire.com/news/home/20201119005633/en/
Contacts:
Press:
Lola Gozlan, LBO France Shan agency: lola.gozlan@shan.fr, +33 1 44 50 58 72 06 24 76 83 40
Léa Schultz, LBO France Shan agency: lea.schultz@shan.fr,+ 33 1 42 86 82 81 07 76 04 73 48
Olivier Emberger, Orange: olivier.emberger@orange.com, +33 1 44 44 93 93
Elizabeth Mayeri, Orange Business Services, elizabeth.mayeri@orange.com, +1 212 251 2086
