Goldman Sachs Alternatives buys control of Italian medtech firm Numantec

MILAN, July 27 (Reuters) - The private equity arm of Goldman Sachs has agreed to acquire control of Italian medical equipment maker Numantec from White Bridge Investment, the companies said, betting on a business with steady revenues amid macroeconomic uncertainty.

Based near the northern Italian city of Mantua, Numantec supplies a range of healthcare products and drug-delivery devices. The company employs about 600 people and operates seven manufacturing facilities across Europe and the United States.

White Bridge built Numantec through a string of acquisitions after a 2021 investment in Delta Med, an Italian manufacturer of high-quality vascular access devices. 

    The companies provided no financials details of the deal.

A person with knowledge of the matter told Reuters the sale valued Numantec at around €700 million.

Under its new owners, the person said, the company is expected to continue expanding in Europe and strengthening its presence in the United States, a market it entered last year when it bought rival Health Line International.

The transaction is expected to close in the fourth quarter.

JPMorgan acted as financial adviser to White Bridge. 

Goldman Sachs International advised Goldman Sachs Alternatives, the U.S. bank's business that includes its private equity activities.

(Reporting by Elvira Pollina; Editing by Valentina Za)