The distributor of advanced hospital equipment, technology, and solutions Palex has closed the acquisition of the Italian company Gada, specialized in material for cardiology, blood management, and intensive care.
The purchase revalidates the international presence of the firm based in Sant Cugat del Vallès and strengthens its product portfolio with high value-added services. Direct entry into the Italian market reinforces Palex as a distributor of medical material in Southern Europe, according to the group's CEO Xavier Carbonell.
Based in Rome, Gada has been serving public and private hospitals for over 40 years, establishing long-term relationships with key suppliers in the international medical device field. The company has 150 employees and closed the 2021 fiscal year with a turnover close to 100 million euros.
For its part, Palex Medical has a business volume of 325 million euros, with the latest data from 2020, a year in which the pandemic situation accelerated the demand for material in Spanish hospitals and the rest of Europe. Thus, the company registered a growth of 71% in 2020.
The acquisition of Gada is the first inorganic growth operation carried out by Palex after the entry into its capital of the private equity fund Fremman Capital, led by Ricardo de Serdio, former partner of the French private equity PAI Partners.
Currently, with a workforce of 625 people, Palex has a product catalog with more than 130,000 references, from more than 550 manufacturers, and distributes material to more than 1,500 public and private clients.