Healthcare
Riverside Invests in Medical Group and Forms Strategic Partnership With Selenium Medical
30 Sept 2026
The deal brings together two French MedTech CDMOs to expand outsourced manufacturing capabilities across orthopaedics, dental, robotics, soft tissue and diagnostics.
29 September 2026 — The Riverside Company has invested in French contract development and manufacturing organisation Medical Group, while supporting a new strategic partnership between Medical Group and fellow French CDMO Selenium Medical.
The partnership is designed to create a broader one-stop-shop proposition for medical device manufacturers, combining capabilities across surface treatment, coating, sterile assembly, packaging, cleanroom plastic injection moulding, sterilisation management, laboratory testing and other specialist manufacturing services.
Medical Group was founded in 1989 and is headquartered in Saint-Priest, while Selenium Medical was founded in 2009 and is based in La Rochelle. Both companies primarily serve customers across the orthopaedic and dental markets, with additional exposure to robotics, soft tissue and in vitro diagnostics.
Building a broader MedTech manufacturing platform
The transaction reflects growing demand from medical device companies for external manufacturing partners capable of supporting more stages of the product lifecycle.
Together, Medical Group and Selenium Medical provide services covering surface treatment and coatings, medical-device cleaning, sterile assembly and packaging, hydroxyapatite and calcium phosphate powders for bone substitutes and implant coatings, sandblasting, sterilisation management and consulting.
The partnership is intended to allow customers to access more of those services through a combined platform rather than working with multiple specialist providers.
Damien Gaudin, Partner and Head of Healthcare at Riverside Europe, said:
We are delighted to partner with the management teams of Medical Group and Selenium Medical to build a differentiated offering in the European MedTech CDMO market.
He added that the two businesses bring technical depth and a strong value proposition for medical device manufacturers operating in increasingly complex regulatory and manufacturing environments.
Regulation and outsourcing support long-term growth
Riverside said the European MedTech CDMO market is benefiting from several structural trends, including greater outsourcing by medical device companies, rising regulatory complexity under the EU Medical Device Regulation and increasing product sophistication.
These pressures are encouraging manufacturers to rely more heavily on specialist partners with established technical capabilities, regulatory knowledge and validated manufacturing processes.
For medical device companies, outsourcing can also reduce the need to build and maintain specialised manufacturing capabilities internally, particularly in areas that require cleanroom environments, surface treatment, sterile processes or advanced materials.
The partnership between Medical Group and Selenium Medical is therefore positioned around both scale and technical specialisation.
Riverside plans international expansion and further acquisitions
Riverside said it will work with the management teams of both companies to accelerate growth through international expansion, continued investment in research and development and a targeted buy-and-build strategy.
The European MedTech CDMO market remains fragmented, creating opportunities to expand the combined platform through further acquisitions.
For Riverside, the deal also continues a long-standing focus on healthcare investments. The firm said this is its fifth healthcare transaction in France, while it has invested in more than 220 healthcare companies since its founding in 1988.
The transaction was sourced and negotiated on a proprietary basis.
Medical Group and Selenium Medical emphasise complementary capabilities
Christophe Deycard and Antoine Beroud, who acquired Medical Group in 2018 and have led its growth since, said the two businesses share similar approaches to quality, innovation and customer support.
Together, we will be able to offer a broader range of specialist capabilities while preserving the entrepreneurial culture and technical expertise that have defined both businesses.
Olivier Richart, founder of Selenium Medical, said the partnership provides an opportunity to build on the company’s technical expertise while expanding its reach.
Damien Uijttewaal, CEO of Selenium Medical, added that the combination will create a stronger proposition for customers while allowing the business to continue investing in innovation and operational excellence.
MedTech manufacturing becomes more specialised
The deal also reflects a broader evolution in medical device manufacturing.
As products become more complex and regulatory requirements increase, specialist CDMOs are becoming more important across areas such as coatings, implant materials, sterile packaging, testing and cleanroom production.
For manufacturers in orthopaedics and dentistry, in particular, production often involves highly specialised processes that require both technical expertise and strict quality controls.
A broader outsourcing platform can therefore help manufacturers reduce operational complexity while maintaining access to specialised capabilities.
The Riverside-backed partnership is designed to address that demand by combining complementary services within a single group.
About Medical Group
Medical Group is a French contract development and manufacturing organisation founded in 1989 and headquartered in Saint-Priest.
The company provides specialist manufacturing services for the medical device industry, including surface treatment, coatings, sterile assembly, packaging and other value-added processes.
About Selenium Medical
Selenium Medical is a French MedTech CDMO founded in 2009 and headquartered in La Rochelle.
Its capabilities include medical device manufacturing, surface treatment, cleanroom services, laboratory testing, sterilisation support and specialist solutions across orthopaedics, dental and other medical technology markets.
About The Riverside Company
The Riverside Company is a global investment firm focused on the smaller end of the middle market.
Founded in 1988, Riverside says it has completed more than 1,000 investments and currently has more than 140 companies across its international private equity and flexible capital portfolios.
