Peters Surgical — Acquisition by Advanced Medical Solutions Group
French medical device manufacturer Peters Surgical acquired by Advanced Medical Solutions, illustrating the strategic value of established surgical product portfolios, specialist manufacturing capabilities, regulatory expertise and recurring demand for medical consumables.
This transaction involved a business above the $1m–$50m SME revenue benchmark. It is included for industry context and is not a direct SME comparison.
Acquirer
Advanced Medical Solutions Group
Year
2024
Enterprise Value
€132.5m
Revenue
€85.2m
Adjusted EBITDA
€13.6m
EBITDA Multiple
~9.7×
Industry
Medical Device Business
Transaction
In July 2024, UK-listed Advanced Medical Solutions Group completed the acquisition of France-based Peters Surgical, an established developer and manufacturer of specialist surgical medical devices. Founded in 1926, Peters Surgical manufactures and distributes surgical sutures, haemostatic clips, clamps and internal surgical adhesives, serving cardiovascular, visceral, urological and gynaecological procedures. The acquisition completed on 1 July 2024 at an enterprise value of €132.5 million. Peters Surgical generated approximately €85.2 million in revenue and €13.6 million in adjusted EBITDA during the twelve months ended 30 June 2024, implying an acquisition multiple of approximately 9.7× EBITDA. Additional contingent consideration of up to €8.9 million was linked to regulatory approvals, financial performance and other transaction conditions. The acquisition expanded Advanced Medical Solutions' surgical product portfolio, manufacturing capabilities and international distribution network.
Why the Premium?
- Established portfolio of specialist surgical medical devices
- Proprietary products and technical manufacturing expertise
- Recurring demand for surgical sutures, clips and consumables
- Regulatory approvals and established healthcare market access
- International distribution network and direct sales capabilities
- Strategic opportunities to combine manufacturing, product portfolios and distribution
SME Takeaway
Peters Surgical demonstrates how an established medical device manufacturer with specialist surgical products, recurring consumable demand and international distribution can achieve a valuation towards the upper end of medical device industry benchmarks. The approximately 9.7× EBITDA multiple is calculated using the €132.5 million enterprise value and €13.6 million adjusted EBITDA for the twelve months ended 30 June 2024. Contingent consideration of up to €8.9 million is excluded because payment depended on specified future conditions. With annual revenue of approximately €85 million, Peters Surgical is larger than SME Multiples' $1 million–$50 million revenue benchmark. The transaction therefore represents an upper-market strategic acquisition rather than a typical small medical device business valuation.
Sources
Disclaimer: Case study figures are based on publicly available information and are provided for illustrative purposes only. Transaction values, EBITDA figures and implied multiples may reflect different reporting periods, definitions and deal structures, and some multiples are calculated from disclosed figures rather than reported by the parties. They are not formal valuations, investment advice or a substitute for independent professional advice.