The health IT specialist has entered into negotiations with Malakoff Humanis, Pro BTP and the Vyv group with a view to their entry into the capital of its health subsidiary.
Cegedim: towards a major operation in the world of insurance | Photo credit: Shutterstock
The computer specialist for pharmacies and doctors displays an insolent health on the stock market, this Wednesday. The title Cegedim climbed nearly 13%, to 25.85 euros, in the afternoon, in a market that is trying to come to its senses. Behind this enthusiasm lies the announcement of the holding of exclusive negotiations between the company and several social protection groups – Malakoff Humanis, Vyv and Pro BTP – with a view to acquiring a stake in the capital of Cegedim Santé, its subsidiary specializing in digital solutions for healthcare professionals and patients. The operation would take the form of a reserved capital increase of 65 million euros, allowing the mutuals to hold 18% of the capital and valuing Cegedim Santé post-operation at 360.9 million euros. It is as much as Cegedim after its stock market surge of the day, a sign that there is an excessive discount on the whole group.
Double interest
As part of the transaction, Cegedim Santé would acquire MesDocteurs, the subsidiary of the Vyv group specializing in telehealth solutions, before merging it with Maiia. If the negotiations are successful, Cegedim, Malakoff Humanis, the Vyv group and Pro BTP will sign ” an investment protocol and a strategic and industrial partnership “, specifies the press release sent to the press. ” interest [de l’opération] is dualnotes the analyst from the Portzamparc firm. An industrial partnership to develop the health branch on the CGM side by bringing in minority shareholders [et] the need for a stake in France in order to strengthen its position with patients, by gaining visibility and transparency, on the mutual insurance side. The operation should be finalized within a few months, probably at the beginning of the second half.
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