Exit at a significant uplift

Private Equity success story about Unilabs

  • Healthcare
  • Year of investment
  • Fund
    Apax IX/Apax Europe VI
  • Status
  • Date of exit
    March 2022

Unilabs is one of the largest diagnostic services providers in Europe, and the only provider to offer laboratory, imaging, and pathology specialties at scale.

The Apax Funds identified Unilabs as a business with good fundamentals and untapped M&A consolidation opportunities early in 2007. By 2017, the Apax Funds saw significant operational improvement potential for the business and viewed Unilabs as the logical player to modernise the sector.

Our performance


Gross MOIC¹


Gross IRR²

Value Creation

Transformed the company’s operations

Unilabs leveraged the know-how of the Apax Operational Excellence Practice to transform its operations from a regional player into one of the largest, fastest growing, and most technologically advanced pan-European leaders in diagnostics.

Attracted talent

Drew on Apax’s healthcare network to appoint a new management team.

Accelerated M&A

Supported the identification and execution of over 50 M&A transactions, helping to expand geographically and into new segments.

Expanded product offering

Kick-started telemedicine endeavours to become the European pioneer of Digital Pathology and Digital Radiology.