Old Mutual Private Equity (OMPE) has announced its exit from Medhold, a leading supplier of medical devices across Southern Africa. The stake, held through OMPE Fund IV, will be acquired by Sanlam Private Equity, marking a significant transition in ownership within one of the region’s key healthcare infrastructure businesses. Though the transaction remains subject to customary regulatory approvals, with completion expected in the fourth quarter of 2025.
OMPE first invested in Medhold in 2018, identifying the company as a cornerstone asset within South Africa’s essential healthcare sector. Over the course of its investment, Medhold’s earnings grew by 2.6 times, driven by strategic expansion and operational optimization. The company’s product portfolio was significantly broadened, particularly through bolt-on acquisitions that enhanced its market reach and service capabilities.
Chumani Kula, Co-Head of Old Mutual Private Equity, stated:
Medhold has been an exemplary investment, showcasing our ability to identify leading businesses that can act as cornerstone assets to buy and build upon. Our goal was always to scale Medhold’s customer offering and position it as the pre-eminent medical devices player across Southern Africa. We enjoyed a strong partnership with a high-quality management team and are pleased to leave the company in a formidable position, primed for continued growth. We wish CEO Matthew Stephens and the broader team continued success in this next chapter with Sanlam Private Equity.
Matthew Stephens, CEO of Medhold, expressed appreciation for OMPE’s strategic guidance and partnership over the past seven years.
We’ve had the privilege of working with the OMPE team since July 2018. Their ability to quickly assimilate and evaluate strategic information in a dynamic, fast-paced industry has been instrumental to our sustained growth. Looking ahead, we welcome the opportunity to collaborate with the equally talented team at Sanlam Private Equity.
Sanlam Private Equity, known for backing market-leading businesses with strong growth potential, sees the acquisition as a strategic opportunity to expand access to advanced medical technologies across South Africa.
In a statement, Paul Moeketsi, Managing Partner at Sanlam Private Equity, noted:
This partnership supports a healthier future for all South Africans. Medhold’s legacy of innovation aligns with our strategy to invest in businesses that drive meaningful impact. With the urgent need for healthcare investment in the country, we are excited to work with Medhold’s exceptional team to expand access to world-class medical technology across critical sectors of the economy.
OMPE’s exit from Medhold reflects its broader investment philosophy: identifying high-potential businesses, scaling them through operational excellence and strategic acquisitions, and exiting at a point of strength. The transition to Sanlam Private Equity ensures continuity in leadership and vision, while positioning Medhold for its next phase of growth in a sector vital to South Africa’s development.
