What Extens does

Extens is a France-based private equity investment fund founded in 2014 by Arnaud Houette (former President of Capsule Technologie) and Quentin Jacomet (formerly of Turenne Capital) that exclusively invests in healthcare software companies. Operating under the positioning "The Software Investor For Healthcare," the firm manages three successive funds with its third and largest closed at a €100 million hard cap in 2022, and has cumulatively deployed over €100 million into 15+ portfolio companies since inception. The firm's investment tickets typically range from €2 million to €12 million, targeting profitable or near-profitable healthcare software publishers with revenue above €1 million across France and, more recently, the Benelux region.

The firm's portfolio spans a diverse set of healthcare and adjacent software verticals, including clinical trials data collection (Kayentis eCOA), critical care management (Bow Medical), hospital digitalization (Hoppen), medical transport organization (Sanilea), interventional cardiology (MediReport, the European leader), HR solutions for healthcare facilities (Horizontal Software), civil service HR and training (Cegape), compliance and transparency software (Ubaq), AI-powered medication decision support (Keenturtle), occupational health platforms (Val Solutions, serving over 12 million employees), QSE/CSR software (Imagine Human), mental health and youth care EHR (Medicore, a Netherlands-based SaaS platform serving 25,000+ healthcare professionals), and orthodontic practice management (SignalSoft Développement). Notable portfolio companies employ differentiated technology stacks, including 100% SaaS EHR architectures, AI-driven clinical decision support for iatrogenesis prevention, and interoperability platforms for hospital information systems.

Extens generates revenue through a combination of management fees on committed fund capital and carried interest on realized exits, supported by co-investment relationships with Bpifrance, LBO France, Seventure Partners, Innovation Capital, and other institutional investors. The firm's go-to-market is relationship-driven, sourcing deals through its professional network, regional advisors (including Mark Pel as Senior Advisor for Benelux), and portfolio company referrals. Strategic exits to date include Enovacom (sold to Orange in 2018), Discngine (2022), and both Must Informatique and Teranga (sold to Orisha in 2024, with Teranga's revenue growing 3x to nearly €25 million during Extens' ownership). The firm maintains headquarters in Paris (250 bis rue du faubourg saint-honoré) and a regional office in Amsterdam, with a small specialized team of 11-50 employees.

Name

Extens

Legal name

EXTENS CONSEIL

Website

https://extens.eu

Company type

Private

Founded year

2014

Operating status

Operating

Headcount range

11–50 employees

Short description

Extens is a France-based private equity fund founded in 2014 that exclusively invests in healthcare and adjacent software companies, having deployed over €100 million across 15+ portfolio companies in France and the Benelux.

Ownership category

akta.pro rank

Product category

Healthcare Software Private Equity

NAICS

Portfolio Management and Investment Advice (523940)

SIC

Investment Advice (6282)

akta.pro primary industry

Healthcare Access & Life Sciences Impact Funds (FSANAJAI)

Keywords

• Healthcare software investing
• Private equity funds
• E-health investments
• Digital health venture capital
• Healthtech growth capital

Headquarters

HQ city

Paris

HQ country

France

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Revenue model

1. Capital gains from portfolio exits: Extens generates returns through equity investments in healthcare software companies. The fund takes minority or majority stakes, supports portfolio companies in growing their businesses, and exits through trade sales, IPOs, or secondary sales. Revenue comes from realized gains on exits and mark-to-market valuation of portfolio holdings.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

Extens is a France-based private equity investment fund exclusively dedicated to healthcare software, providing growth capital (initial tickets of €1-7M and follow-ons up to €12M), operational support, and strategic guidance to healthcare software publishers. The fund takes minority or majority stakes in profitable or near-profitable healthcare software companies with revenue above €1 million, with the goal of accelerating growth and enabling them to become market leaders.

Product overview

Extens is a France-based investment fund exclusively dedicated to healthcare software, operating since 2014 as 'The Software Investor For Healthcare.' Rather than developing its own products, Extens invests in and supports portfolio companies that develop specialized healthcare software solutions. The portfolio comprises 14 active companies offering diverse healthcare software products spanning: clinical trials data collection (Kayentis eCOA), critical care management (Bow Medical), hospital digitalization (Hoppen), medical transport organization (Sanilea), cardiology software (MediReport), HR solutions for healthcare (Horizontal Software), compliance software (Ubaq), civil service HR (Cegape), cosmetic R&D software (Coptis), AI-powered medication decision support (Keenturtle), occupational health platforms (Val Solutions), QSE management (Imagine Human), mental health EHR (Medicore), and orthodontic practice management (SignalSoft Développement). Extens provides investment, strategic guidance, and operational support to help these companies accelerate growth and become market leaders.

Differentiator

Problem solved

Functional benefit

Products and services

• Extens Healthcare Software Fund III
• Portfolio Operational Support Program

Quantifiable outcome

• Teranga's revenue grew by 3x during Extens' ownership, reaching nearly €25 million in 2024
• +3 more outcomes

Named customers8 records

Segments3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability6 records

Partnerships

Three partnerships are on record, tiered minor and core.

• BMI SystemminorStrategic or Co-development Partner · 1 July 2021New partnership to accelerate commercial development, expand internationally, and strengthen BMI System's compliance software offering for healthcare industries.
• France InvestcoreOthers · 1 January 2019Extens has adopted the ethics charter of France Invest and signed the PRI principles of UNPRI, demonstrating commitment to responsible investment practices.
• UNPRIcoreOthers · 1 January 2019Extens has signed the Principles for Responsible Investment (PRI), demonstrating commitment to ESG and responsible investment practices.

Scale indicators7 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Andera Partners: French private equity firm (formerly Edmond de Rothschild Investment Partners) with dedicated healthcare and software investment verticals. Direct comparable given French base, healthcare focus, and similar lower-mid-market ticket sizes.
• ArchiMed: European healthcare-focused PE firm investing in healthcare software, medtech, and services. Strongly comparable given exclusive healthcare mandate and European geographic footprint.
• GIMV: Belgian-listed PE firm with dedicated healthcare and smart industries verticals. Comparable mid-market European healthcare software investor with similar ticket sizes and Benelux presence.
• Capricorn Partners: Belgian independent PE/VC manager with dedicated Healthcare & Cleantech funds. Comparable given Benelux base and healthcare software investment focus.
• Kurma Partners: Paris-based healthcare-focused VC/PE firm investing across digital health and life sciences. Comparable French healthcare investor with overlapping verticals.
• LBO France: Independent French PE firm with healthcare and digital verticals. Recurring co-investor with Extens (Kayentis, Teranga) and a direct competitor for French healthcare software deals.
• Seventure Partners: Paris-based VC firm with healthtech-focused funds (Health for Life Capital). Recurring co-investor with Extens on Kayentis and a comparable French healthtech investor.
• Creadev: French family-owned PE firm (Ush family/Decathlon) with healthcare and technology verticals. Comparable mid-market French investor with healthcare exposure.

Broad incumbents

• EQT Life Sciences: Pan-European life sciences and healthcare growth investor (formerly LSP), part of EQT. Larger-scale peer with overlapping healthcare software thesis and similar buyout/growth investment style.
• Bpifrance: French public investment bank co-investing in healthcare software with Extens. While not a direct PE peer, it competes and partners on the same healthcare software deals at national level.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A5 records

Investments6 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Extens