US-based private equity firm KKR & Co. is reportedly considering the acquisition of GPI SpA, an Italian healthcare technology company, according to sources familiar with the discussions.

KKR has been consulting advisors in recent weeks about the possibility of taking GPI private.

GPI, headquartered in Trento, has seen its shares increase by 24% this year on the Milan stock exchange.

This surge has given the company a market value of around €377 million (US$438 million).

The firm’s CEO, Fausto Manzana, through an investment vehicle, holds a 48% stake in GPI, which represents 57% of its voting rights.

The discussions are still preliminary, and there is no certainty they will lead to a transaction. Representatives for both KKR and GPI declined to comment.

GPI specializes in technological solutions for the healthcare sector, including hospital information systems and diagnostic tools.

GPI reported revenues of €510 million (US$556 million) in 2024, with earnings before interest, taxes, depreciation, and amortization (EBITDA) rising 31% to €105 million (US$121.8 million). Its net profit from continuing operations was €15 million (US$17.43 million).

🔗 Source: Bloomberg

🧠 Food for thought

1️⃣ Healthcare technology consolidation accelerates amid decades-long industry trend

KKR’s interest in GPI reflects a healthcare consolidation pattern dating back to the 1990s, when the sector began shifting from inpatient to outpatient settings, driving the need for integrated technological solutions 1.

This acquisition consideration follows numerous precedents in healthcare technology consolidation, including McKesson and Change Healthcare’s 2017 merger that created a combined entity focused on value-based care solutions while raising approximately $6.1 billion in debt financing 2.

Similar strategic moves include Verscend Technologies’ acquisition of Cotiviti Holdings, which enhanced its position in data-driven healthcare solutions by combining extensive financial and clinical data assets 3.

The potential GPI acquisition aligns with these historical patterns, as private equity firms increasingly target healthcare technology companies that offer scalable solutions addressing efficiency and cost management, key concerns for healthcare providers operating with thin margins.

GPI’s portfolio of hospital information systems and diagnostic solutions makes it an attractive target in this consolidation landscape, offering KKR expansion opportunities in the growing European healthcare technology market.