G Square
G Square Healthcare Private Equity LLP is a London-based private equity firm founded in 2008, investing €30-50M per deal across mid-market European healthcare platforms in Medical Products, Healthcare IT, Healthcare Services, and Pharma Services. The firm serves founders and management teams via buy-and-build strategies, funded by institutional LPs.
- Company typePrivate
- Founded2008
- HeadquartersLondon, United Kingdom
- Headcount11–50
- GTM typeB2B
- OfferingServices
What G Square does
G Square Healthcare Private Equity LLP is a London-based private equity firm founded in 2008 by Dr. Laurent Ganem as the first European PE firm focused exclusively on healthcare investments. The firm invests across four healthcare sub-segments — Medical Products (equipment, devices, biomaterials), Healthcare IT (software, telehealth, AI, tech-enabled services), Healthcare Services (diagnostics, specialised clinics, social care), and Services to Pharma Industry (CROs, CDMOs) — deploying €30-50 million of equity per deal with a strong buy-and-build approach. The firm manages multiple fund vintages including G Square Capital II (€350M, 2017) and a €500M continuation vehicle (2022), with limited partners comprising North American and European institutional investors.
The firm's portfolio of approximately 25 platforms and 340 add-ons spans medical products (Serres surgical fluid management, G21 orthobiologics, Duomed MedTech distribution), digital health (Mayden with iaptus EHR used by 40,000+ NHS clinicians, ClinicLetter.ai ambient scribe, Portasana patient engagement, Medadom telehealth), healthcare services (Keys/Accomplish social care, Pharmacy2U online pharmacy, Argos veterinary clinics, Unicare Norway), and healthcare education (Healthcademia across 11 countries). The firm generates revenue through management fees on committed capital and performance-based carried interest on exits, and operates with FCA regulation (FRN 605527) and UN PRI signatory status since 2012.
The team of 32 professionals represents 17 nationalities and 400 years of combined healthcare investment experience, anchored by Founder/CEO Dr. Laurent Ganem (MD, Columbia MBA, ex-Baxter and Apax Partners) and supported by operating partners with deep NHS and healthcare executive backgrounds. G Square's go-to-market relies on proprietary deal sourcing through sector specialisation, direct outreach to healthcare entrepreneurs, and referral networks, with capital raised via private placement to institutional investors advised by Asante Capital and Proskauer.
G Square firmographics
Firmographics- Name
- G Square
- Legal name
- G Square Healthcare Private Equity LLP
- Website
- https://gsquarecapital.com
- Company type
- Private
- Founded year
- 2008
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- G Square Healthcare Private Equity LLP is a London-based private equity firm founded in 2008, investing €30-50M per deal across mid-market European healthcare platforms in Medical Products, Healthcare IT, Healthcare Services, and Pharma Services. The firm serves founders and management teams via buy-and-build strategies, funded by institutional LPs.
- Ownership category
- akta.pro rank
G Square industry classification
Industry- Product category
- Healthcare Private Equity / Private Equity Fund Management
- NAICS
- Portfolio Management and Investment Advice (523940), Funds, Trusts, and Other Financial Vehicles (525)
- SIC
- Investment Advice (6282)
- akta.pro primary industry
- Healthcare & Life Sciences Growth Equity (FSANACAB)
- akta.pro secondary industry
- Business Services (B2B) Growth Equity (FSANACAD)
Keywords
Where G Square is headquartered
LocationHeadquarters
- HQ city
- London
- HQ country
- United Kingdom
- HQ region
- Europe
Offices1 record
Markets served
G Square business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D
Revenue model
- Management Fees: G Square charges management fees on committed capital under management across its fund vehicles (G Square Capital I, II, III, IV, and continuation funds).
- Carried Interest: Performance-based carried interest from successful exits and realisation of portfolio companies, aligning GP and LP interests.
Go-to-market motion1 record
Distribution channels1 record
Marketing channels4 records
G Square product offering
Product offeringCore offering
G Square Healthcare Private Equity LLP is a London-headquartered, FCA-authorised private equity firm that invests growth and buyout capital of €30–50 million per transaction in mid-market European healthcare companies. Its funds target four healthcare segments — Medical Products, Healthcare IT, Healthcare Services, and Services to the Pharma Industry — and pursue value creation primarily through buy-and-build strategies, deploying capital raised from institutional investors and earning revenue through management fees and carried interest on exits.
Product overview
G Square operates as a healthcare-focused private equity firm (G Square Healthcare Private Equity LLP) that invests in mid-market healthcare companies across Europe. The firm manages multiple funds and has portfolio companies spanning four healthcare segments: Medical Products, Healthcare IT, Healthcare Services, and Services to Pharma Industry. Key portfolio companies include Mayden (health tech with iaptus EHR system), Medadom (French telehealth), Serres (Finnish MedTech for surgical fluid management), Healthcademia (international healthcare education), G21 (Italian biomaterials for orthopaedics), Pharmacy2U (UK online pharmacy), and Keys Group (UK social care services). Mayden's product suite includes iaptus (EHR), Portasana (patient engagement platform), and ClinicLetter.ai (ambient voice technology for NHS). Additionally, G Square Group (a separate Indian real estate developer) develops plotted communities in Tamil Nadu including projects like Temple View Square and Seven Hills City.
Differentiator
Problem solved
Functional benefit
Products and services
- G Square Capital II Fund Closed-end healthcare-focused private equity fund of €350 million that invests growth and buyout capital of €30–50 million per deal in mid-market European healthcare companies across Medical Products, Healthcare IT, Healthcare Services and Services to Pharma Industry. Sold to institutional limited partners.
- G Square Capital Continuation Fund Vehicle €500 million continuation fund vehicle that acquired three existing portfolio assets (Accomplish, Keys Group, and Denteam) from G Square Capital I and II, providing liquidity to certain investors and allowing new and existing LPs to participate in the next stage of growth of those assets.
- G Square Capital IV Fund Fourth-vintage healthcare-focused private equity fund of G Square, evidenced by its third investment in Mayden in November 2023. Deploys growth and buyout capital into mid-market European healthcare companies.
Quantifiable outcome
- 25 deals completed across fund series
- +2 more outcomes
Companies that use G Square
Customer profileNamed customers7 records
Segments3 records
Ideal customer profiles2 records
G Square technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration3 records
AI capability4 records
G Square partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered core.
- Paree GroupcoreParee Group, the long-standing family owner of Serres, retained a significant stake when G Square acquired majority ownership. Paree Group continues as a strategic partner in Serres' next phase of development, leveraging G Square's healthcare expertise for international expansion.
- Palex MedicalcoreDuomed Group (G Square portfolio) executed put option agreement for contemplated sale to Palex Medical, creating a pan-European MedTech distribution platform spanning Northern, Western, and Southern Europe.
Scale indicators7 records
Recent moves6 records
Expansion highlights6 records
G Square competitors and assessment
Company assessmentBroad incumbents
- Eurazeo: European private equity firm with healthcare exposure that led G Square's €500M continuation vehicle in 2022. Operates a broader sector mandate but participates in mid- and upper mid-market healthcare transactions across Europe.
- Apax Partners: Global private equity firm with a long-standing healthcare practice where G Square's founder Laurent Ganem worked from 1994. Operates a broader sector mandate but competes for European healthcare buyouts at similar mid-market scale.
- Bridgepoint Group: European mid-market private equity firm with healthcare exposure. Emmanuel Amponsah worked at Bridgepoint before joining G Square, and Bridgepoint is a comparable competitor for mid-market European healthcare buyouts.
- Intermediate Capital Group (ICG): Global alternative asset manager with significant European mid-market healthcare exposure through its Strategic Equity and Partnership Capital strategies. Javier Serrano joined G Square from ICG, and ICG is a comparable source of competition for mid-cap healthcare buyouts.
- Schroders Capital: Global private markets investor that co-led G Square's €500M continuation vehicle with Eurazeo in 2022. Operates broader sector mandates but is a comparable LP and co-investor in European mid-market healthcare transactions.
Direct peers
- Hg (Hg Capital): European technology and healthcare-focused private equity firm. Yasemin Arik joined G Square from Hg, and Hg has parallel sector mandates in healthcare software and tech-enabled services, making it a directly comparable peer for G Square's Healthcare IT vertical.
- ARCHIMED: Pan-European healthcare-dedicated private equity firm headquartered in Lyon, France. Directly comparable to G Square as a healthcare specialist mid-market investor across medical products, services, and digital health with similar European geographic focus and equity check sizes.
- CapVest Partners: European mid-market private equity firm with healthcare and consumer mandates. Loic Taieb joined G Square from CapVest, signaling directly comparable mid-market European healthcare deal sourcing.
- Five Arrows Capital Partners (Rothschild): Lower mid-market private equity arm of Rothschild & Co focused on software and healthcare. Oliver Hoenich joined G Square from Five Arrows, making it a directly comparable peer on deal size, sector focus, and European mid-market positioning.
- Synova Capital: Pan-European mid-market private equity firm with a dedicated healthcare vertical. Matteo Cefaliello joined G Square from Synova, indicating directly comparable deal sourcing, equity check sizes, and sector focus.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks5 records
Key highlights7 records
Customer concentration
G Square social profiles
Digital presenceG Square compliance and trust
Trust signalCompliance4 records
G Square financial estimates
Financial estimateRevenue estimate
Valuation estimate
G Square leadership team
Management profileNumber of profiles
Profiles7 records
G Square funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
G Square M&A and investment
M&A and investmentM&A11 records
Investments6 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about G Square
What does G Square do?
G Square Healthcare Private Equity LLP is a London-headquartered, FCA-authorised private equity firm that invests growth and buyout capital of €30–50 million per transaction in mid-market European healthcare companies. Its funds target four healthcare segments — Medical Products, Healthcare IT, Healthcare Services, and Services to the Pharma Industry — and pursue value creation primarily through buy-and-build strategies, deploying capital raised from institutional investors and earning revenue through management fees and carried interest on exits.
Is G Square a public or private company?
G Square is a private company. It is classified as management employee owned and is currently operating.
When was G Square founded?
G Square was founded in 2008. It employs 11 to 50 people.
Where is G Square based?
G Square is headquartered in London, United Kingdom, in the Europe region.
How does G Square make money?
Two revenue lines are on record. Management Fees are the primary driver. The others are carried Interest.
Who are G Square's main competitors?
Broad incumbents on record are Eurazeo, Apax Partners, Bridgepoint Group, Intermediate Capital Group (ICG) and Schroders Capital. Direct peers are Hg (Hg Capital), ARCHIMED, CapVest Partners, Five Arrows Capital Partners (Rothschild) and Synova Capital.
Does G Square have an API?
No public API is recorded for G Square.
What industry is G Square in?
G Square's product category is Healthcare Private Equity / Private Equity Fund Management. Its primary akta.pro industry code is FSANACAB, Healthcare & Life Sciences Growth Equity, with a secondary code of FSANACAD, Business Services (B2B) Growth Equity. Its NAICS code is 523940 and its SIC code is 6282.