Key Takeaways
- • Thoma Bravo completed its acquisition of padoa, a French occupational health, safety, and prevention software platform founded in 2016, marking a significant expansion into the European healthtech sector.
- • The transaction was executed via Thoma Bravo's €1.8 billion Europe Fund, with the firm acquiring a majority stake alongside co-founders and existing shareholders Five Arrows and Kamet Ventures.
- • padoa serves millions of employees and thousands of healthcare professionals across France through a fully integrated digital ecosystem designed to improve workplace health prevention and care pathways.
- • Thoma Bravo, managing $172 billion in assets under management as of March 31, 2026, continues its track record of software acquisitions with this deal representing part of the firm's 590+ historical software and technology company investments totaling approximately $320 billion in aggregate enterprise value.
Summary
Thoma Bravo, the world's largest software-focused investment firm, has closed its acquisition of padoa, a leading European occupational health technology platform based in France. The transaction was completed via Thoma Bravo's €1.8 billion Europe Fund, with the firm acquiring a majority stake in the company while co-founders and existing shareholders Five Arrows and Kamet Ventures retained equity positions in the combined entity.
padoa, founded in 2016, operates a fully integrated digital ecosystem serving occupational health services, healthcare professionals, employers, and employees across France with an expanding European footprint. The platform currently supports millions of employees and thousands of healthcare professionals, offering software solutions focused on occupational health, safety, and prevention. The company's stated mission is to equip occupational health professionals with technology solutions that improve prevention outcomes, streamline care pathways, and promote healthier workplaces.
This acquisition reinforces Thoma Bravo's strategic focus on software-led businesses with recurring revenue models and European market presence. As of March 31, 2026, Thoma Bravo manages $172 billion in assets under management and has completed or invested in approximately 590 software and technology companies over more than 20 years, representing approximately $320 billion in aggregate enterprise value across control and non-control investments and add-on acquisitions. The padoa acquisition extends the firm's healthcare technology investments within its broader software portfolio and underscores demand among institutional capital for digital health and workplace wellness platforms with established market presence and revenue scale.
The transaction brings together Thoma Bravo's operational expertise and capital resources with padoa's incumbent position in French occupational health services. Under Thoma Bravo's ownership, padoa is positioned to accelerate expansion across continental Europe and enhance its technology platform to serve the growing regulatory and organizational demand for integrated occupational health solutions.
padoa, founded in 2016, operates a fully integrated digital ecosystem serving occupational health services, healthcare professionals, employers, and employees across France with an expanding European footprint. The platform currently supports millions of employees and thousands of healthcare professionals, offering software solutions focused on occupational health, safety, and prevention. The company's stated mission is to equip occupational health professionals with technology solutions that improve prevention outcomes, streamline care pathways, and promote healthier workplaces.
This acquisition reinforces Thoma Bravo's strategic focus on software-led businesses with recurring revenue models and European market presence. As of March 31, 2026, Thoma Bravo manages $172 billion in assets under management and has completed or invested in approximately 590 software and technology companies over more than 20 years, representing approximately $320 billion in aggregate enterprise value across control and non-control investments and add-on acquisitions. The padoa acquisition extends the firm's healthcare technology investments within its broader software portfolio and underscores demand among institutional capital for digital health and workplace wellness platforms with established market presence and revenue scale.
The transaction brings together Thoma Bravo's operational expertise and capital resources with padoa's incumbent position in French occupational health services. Under Thoma Bravo's ownership, padoa is positioned to accelerate expansion across continental Europe and enhance its technology platform to serve the growing regulatory and organizational demand for integrated occupational health solutions.
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