The company’s range of ventilators is used essentially for at-home treatment, but also, to a limited extent, in specialised services such as pneumology, reanimation and post-operative care.

When we invested in 2002, Saime was market leader in France in the development and distribution of respiratory equipment to treat patients with severe chronic respiratory diseases at home. Exports represented 40% of Saime’s sales.

Argos backed the management buy-in of Saime from the company’s founder and owner who was seeking to retire. This was the first management buy-in led by serial entrepreneur Antoine Heral. After our divestment and Saime’s subsequent sale to ResMed, Antoine returned to Argos with the intention of finding another buy-in candidate in the healthcare industry. Thus, in 2006, Argos funded a second management buy-in with Antoine, diabetics business Dinno Santé.

The takeover of Saime by Antoine and Argos gave birth to a full a new strategic plan focused around product development potential by enlarging Saime’s homecare product range to target high growth segments such as mild respiratory diseases and sleep apnea.

Moreover, the new team built a complete platform for international expansion consolidating Saime’s leading share in the French “at home” ventilator market (through expansion and acquisitions) and building market share in the other European markets and boosting international sales.

Finally, the strategic repositioning of the business led to a strategic development through hospital market by launching new and innovative product.

Under Argos the company invested heavily in R&D and in particular developed a very innovative new device aimed at hospital care. In 3 years, the continued progress of the enlarged home care range contributed to growing sales that almost doubled. During the same period, the number of employees grew from 36 to 73.