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Motion Equity Partners acquires a majority stake in Banook Group alongside Turenne Santé and its management team

Motion Equity Partners acquires a majority stake in Banook Group alongside Turenne Santé and its management team

19 October 2023

Motion Equity Partners announces its entry as the majority shareholder in Banook Group, an expert in the Cardiac Safety assessment of drug candidates, alongside Turenne Santé and Banook Group’s management team, who reinvest substantially in the operation.

Founded in 1999 in Nancy, Banook has established itself as a Cardiac Safety Central Service Provider specialized in the centralization of cardiac data derived from electrocardiograms (ECG) and central imaging within the context of clinical trials. For over 25 years, Banook has been a trusted partner for pharmaceutical laboratories, biotechnology companies, and generalist Contract Research Organizations (CROs), streamlining drug candidates’ safety and efficacity assessment by centralizing and analyzing ECG and medical imaging data. As a strategic partner, the Group benefits from a network of renowned Key Opinion Leaders and a Clinical Trial Management System (Atrium) that ensures secured and automated data centralization.

Historically based in Nancy, Banook has embarked on a strategic international expansion, first establishing a presence in Canada and then Germany through the acquisition of the Munich-based enterprise nabios Gmbh in 2021. In 2022, the company further expanded by opening an office in Boston. Additionally, the Group has strategically positioned multiple logistic hubs abroad, ensuring the swift provision of medical devices, enabling Banook to efficiently support multi-site clinical trials. Presently, Banook conducts almost two-thirds of its operations outside of France, addressing leading pharmaceutical laboratories. The Group employs ~70 people and is backed by a network of top-tier scientific and medical experts.

Operating in a rapidly growing Cardiac Safety market (+13% CAGR growth) the company led by Alexandre Durand Salmon was looking for additional resources to accelerate the Group’s expansion following a successful phase of structural development alongside Turenne Santé, with a specific emphasis on the United States, where the Group holds significant growth potential. The Management team therefore decided to embark on a strategic and financial partnership with Motion Equity Partners. Turenne Santé reinvests in the operation alongside Motion Equity Partners.

In the upcoming years, the strategic focus will be on consolidating Banook’s position as a leading European player in Cardiac Safety, for both ECG and imaging services, to accelerate its international expansion, especially in the United States, while also diversifying into adjacencies such as eCOA and biostatistics to better serve its customers. All the while pursuing its excellent customer service, with a continuous effort in innovation and contributing to the future of healthcare.

“After a successful transitional phase alongside Turenne Santé, both in terms of ownership and management, which notably included our first acquisition with nabios Gmbh in Germany, we are now ready to deploy our development strategy. The challenge of the upcoming years will be to reinforce our international expansion, with a strategic focus on North America, the world’s leading market. Motion Equity Partners has firmly established itself as the ideal partner to boost this next phase of our ambitious growth” stated Alexandre Durand Salmon, President of Banook Group.

“We have identified Banook as a very high-performing company operating in a dynamic and appealing market. We quickly developed a strong belief in the Management team’s ability to lead an ambitious development project, with a strong commitment to leverage the potential of external growth, and to make Banook a global market leader. Backed by our extensive experience in the healthcare sector and our proven track-record in supporting international external growth initiatives, we are well-prepared to provide Banook and its team with the resources required to realize their ambition” stated Cédric Rays and Anthony Baudoin, Partners at Motion Equity Partners.

“We are pleased to extend our partnership with Banook, alongside Alexandre and his team, and with the support of Motion Equity Partners who will enable the Group to reach a new stage of development and to pursue the momentum that was initiated on our side” stated Paul Chamoulaud, Partner at Turenne Santé.