Jan 2023

Frafito acquires AVF Biomédical and becomes a leading French distributor of medical devices.

Customers and counterparties

This major external growth operation will enable Frafito to double in size and become a key player in the distribution of medical devices in France.

Founded in Nice in 1986, Frafito specializes in the BtoB distribution of medical devices, particularly electronic diagnostics. The company offers a catalog of 1,500 references (international and own brands) and has more than 2,000 customers throughout France, including traditional medical equipment retailers, pure web players, and pharmaceutical wholesalers. Thanks to its operational, logistical, and commercial efficiency, as well as its efficient after-sales service, Frafito’s revenues, have increased sixfold over the past ten years, placing it in the top three in its market.

In the spring of 2022, Frafito entered a new phase in its history by bringing in iXO Private Equity to support the development of the FINMED group, in particular through an external growth plan designed to conquer new markets. Following contacts initiated by PAX Corporate Finance, five months after this operation, the Provençal company announced the acquisition of AVF Biomédical and created a major player in the distribution of medical devices with a turnover of more than 26 million euros.

AVF Biomédical is a Rennes-based company with 35 years of experience in the distribution of medical devices for hospitals and care facilities in France. The company has a marked specialization in cardiology (monitoring, defibrillators, and associated consumables) and urology (ultrasound scanners and mapping of the prostate for biopsies). AVF Biomédical has been growing steadily for several years and currently employs 22 people with a turnover of over 12 million euros.

The merger of Frafito and AVF Biomédical will enable the Finmed group to reach a critical size and to have a tenfold sales force able to offer its current suppliers greater access to the French market, but also to attract new suppliers who wish to rely on a global player able to sell throughout France.

This merger will also generate numerous operational and strategic synergies for both partners. Because of its distribution activity with hospitals, AVF Biomédical has certifications that will allow Frafito to address this market throughout France. For its part, Frafito benefits from a highly developed logistics and distribution network that AVF will use to expand the sale of its medical devices and equipment.

Elie Fiani, President of Finmed: "We are delighted with the creation of Finmed, which will enable us to become one of the leaders in the distribution of medical devices in France. Our shared values, in the service of customer satisfaction, and the obvious complementarity of our different skills are all assets that will enable us to pursue our strategy of growth and conquest of new markets.

As part of this operation, Jean-Marc Soghomonian, Managing Director of AVF Biomédical, will acquire a stake in the Finmed group. He keeps his operational functions and joins the new group as an associate manager.

Jean-Marc Soghomonian, CEO of AVF Biomedical and shareholder of Finmed: "The merger of AVF Biomedical and Frafito within Finmed is a real opportunity for both entities. Genuine operational and strategic synergies will be created to enable Finmed to continue its development and establish itself as a key player in the French market.

Associate members