Key Takeaways
- • Goldman Sachs Alternatives has agreed to acquire a majority stake in Numantec, an Italian medical equipment manufacturer specializing in infusion devices and drug-delivery systems, from previous owner White Bridge Investments for an estimated €700 million.
- • Numantec operates approximately 600 employees across seven manufacturing facilities in Europe and the United States, positioning it as a significant player in the infusion medical devices sector with established revenue streams.
- • The acquisition reflects Goldman Sachs' confidence in healthcare infrastructure and medical device businesses as defensive investments during macroeconomic uncertainty, with the company expected to expand further in Europe and strengthen its U.S. market presence.
- • White Bridge Investment built Numantec through strategic acquisitions beginning with a 2021 investment in Delta Med, an Italian vascular access device manufacturer, followed by the 2025 acquisition of U.S.-based Health Line International.
- • The transaction is expected to close in the fourth quarter of 2026, with JPMorgan serving as financial adviser to White Bridge and Goldman Sachs International advising the acquiring Goldman Sachs Alternatives division.
Summary
Goldman Sachs Alternatives, the private equity division of Goldman Sachs, has agreed to acquire a controlling stake in Numantec, an Italian manufacturer of infusion medical devices and healthcare drug-delivery products. The acquisition from White Bridge Investments values Numantec at approximately €700 million, according to Reuters sources familiar with the transaction. The deal represents a significant move by Goldman Sachs into the specialized medical equipment sector during a period of broader macroeconomic uncertainty.
Numantec operates as a substantial healthcare infrastructure player, employing roughly 600 personnel and maintaining seven manufacturing facilities distributed across Europe and the United States. The company supplies a comprehensive range of infusion devices and healthcare products, with an established customer base and recurring revenue model. White Bridge Investments had built Numantec through a series of strategic acquisitions, initially investing in Delta Med, an Italian manufacturer of high-quality vascular access devices, in 2021. Most recently, Numantec expanded its North American footprint through the acquisition of Health Line International in 2025.
Under Goldman Sachs Alternatives' ownership, Numantec is positioned for continued geographic expansion, particularly in strengthening its presence within the United States market and furthering penetration in European markets. The acquisition aligns with Goldman Sachs' broader investment thesis favoring healthcare and medical device businesses that generate stable, predictable cash flows—characteristics particularly valued during periods of macroeconomic volatility.
JPMorgan served as financial adviser to White Bridge Investments on the transaction, while Goldman Sachs International provided counsel to Goldman Sachs Alternatives. The parties anticipate closing the transaction in the fourth quarter of 2026. Neither the companies nor their advisers disclosed additional financial metrics or transaction structures.
Numantec operates as a substantial healthcare infrastructure player, employing roughly 600 personnel and maintaining seven manufacturing facilities distributed across Europe and the United States. The company supplies a comprehensive range of infusion devices and healthcare products, with an established customer base and recurring revenue model. White Bridge Investments had built Numantec through a series of strategic acquisitions, initially investing in Delta Med, an Italian manufacturer of high-quality vascular access devices, in 2021. Most recently, Numantec expanded its North American footprint through the acquisition of Health Line International in 2025.
Under Goldman Sachs Alternatives' ownership, Numantec is positioned for continued geographic expansion, particularly in strengthening its presence within the United States market and furthering penetration in European markets. The acquisition aligns with Goldman Sachs' broader investment thesis favoring healthcare and medical device businesses that generate stable, predictable cash flows—characteristics particularly valued during periods of macroeconomic volatility.
JPMorgan served as financial adviser to White Bridge Investments on the transaction, while Goldman Sachs International provided counsel to Goldman Sachs Alternatives. The parties anticipate closing the transaction in the fourth quarter of 2026. Neither the companies nor their advisers disclosed additional financial metrics or transaction structures.
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