Palex Medical

In 1955, the Knuth family founded Palex in Barcelona, establishing a business focused on distributing high-value medical technology equipment. The company built its model on creating exclusive, long-term partnerships with leading global manufacturers, acting as their integrated sales and logistics channel for hospitals and laboratories across Southern Europe. This strategy allowed Palex to embed itself deeply within the healthcare ecosystem of Spain, and later, Portugal and Italy. For decades, Palex grew steadily, building a reputation for quality and a vast portfolio of over 150,000 products from more than 600 partners. The business became a critical, yet often unseen, link between MedTech innovators and healthcare providers. A significant turning point in its journey from a family-owned business to a private equity powerhouse began in December 2021, when Fremman Capital acquired a majority stake. This move signaled a new chapter of accelerated growth. Under Fremman's ownership, Palex embarked on an aggressive expansion, completing eight acquisitions in less than two years to solidify its market leadership. The playbook was clear: consolidate the fragmented MedTech distribution market. This strategy culminated in a major transaction in July 2023, when Apax Partners, a global private equity firm, agreed to jointly acquire a co-controlling stake alongside Fremman. The deal, which valued Palex at approximately €1 billion, was designed to fuel further international growth and transform the company into a pan-European leader. This series of acquisitions has reshaped Palex from a regional player into a dominant force in European MedTech distribution.