Mobile network operator Orange has committed an undisclosed amount of capital to France-headquartered private equity firm LBO France’s Digital Health 2 (DH2) fund through its Orange Digital Investment vehicle.
DH2 has a €200m ($238m) target for its close and is tasked with investing in small-to-medium sized businesses in the digital health sector. Its target areas are France and the rest of Western Europe.
Orange’s contribution was made as a strategic investment connected to Enovacom, the business-to-business digital health unit overseen by its Orange Business Services subsidiary. The firms will also explore opportunities for synergy.
Enovacom’s deputy CEO, Laurent Frigara, said: “The adventure continues with DH2, a fund in which, together with the operational team, we have found a real understanding of our common challenges when it comes to e-health.
“We are convinced that DH2’s management team will be able to identify and support the hidden gems of the e-health industry to make companies both currently in the portfolio and those of tomorrow major players in e-health.
“This investment in DH2 will enable Enovacom to strengthen the ecosystem, accelerate synergies and build alliances to address e-health issues.”
DG2’s portfolio so far includes intelligent insole developer FeetMe, Africa-focused medicine distribution technology producer Meditect, medical imaging system developer QuantifiCare and pathology software provider Tribvn Healthcare.
