ISALT and TAG Partners invest in Oury Medical to finance the acquisition of Céfiméca
Paris, April 01, 2026 – The Strategic Transitions Fund (FST), managed by ISALT, and TAG Partners are leading the new funding round of Oury Medical, a French industrial group specializing in orthopedic and spinal medical instrumentation, in connection with its acquisition of Céfiméca, a French specialist in the field. FST and TAG Partners are investing alongside several family offices and private investors to finance this transaction.
This investment will enable Oury Medical to:
- Finance the acquisition of Céfiméca and strengthen its industrial capabilities;
- Consolidate its balance sheet to support technological and production investments;
- Continue its build-up strategy and establish itself as a leading player in medical instrumentation in France and internationally.
| Laurent Piccoli, Partner at ISALT, stated: “The Strategic Transitions Fund is proud to support Oury Medical in the acquisition of Céfiméca, alongside TAG Partners, whose team has implemented a highly effective and value-creating build-up strategy for the company over recent years. Oury Medical is one of the very few French players capable of manufacturing orthopedic and spinal instruments and implant components on behalf of global orthopedic leaders. This investment fully aligns with our mission: to support innovative companies in their acceleration phase and contribute to the emergence of the next generation of French industrial champions, in close collaboration with ambitious and committed management teams.”
Georges-Alexandre Ancenys, Thierry Manceau and André Wagner, Founding Partners of TAG Partners, stated: “We warmly thank ISALT and all the investors who have chosen to co-invest alongside TAG Partners in Oury Medical. Their trust and financial commitment enable Oury Medical to reach a decisive milestone by completing the acquisition of Céfiméca and to continue, with ambition, the build-up strategy initiated three years ago, aimed at becoming a leading player in medical instrumentation. We are convinced that this new shareholder structure represents a major asset for the Group’s growth and development.”
Sébastien Meunier, CEO of Oury Medical Group, stated: “I would like to thank TAG Partners for the trust and support provided over the past three years to the entire management team. I would also like to thank ISALT and the new investors who, through this new funding round, enable us to continue our consolidation strategy. With the acquisition of Céfiméca, we are integrating complementary capabilities in instrumentation and selected implants, strengthening the value we bring to our clients, while remaining focused on our industrial DNA.” |
- A rapidly expanding group in a high-precision medical sector
- In response to the growing demand for integrated solutions from orthopedic and spinal players, Oury Medical has been building, since TAG Partners’ acquisition of Oury-Guyé three years ago, a leading French industrial platform in orthopedic medical instrumentation. The strategy is based on targeted acquisitions aimed at combining complementary manufacturing expertise to serve both French and international clients. The acquisition of Céfiméca represents the fifth build-up transaction completed since the launch of this platform strategy.
- Céfiméca brings recognized expertise in orthopedic and spinal instruments, complemented by a selective range of implants for which its precision manufacturing capabilities are particularly well regarded. This combination strengthens Oury Medical’s positioning as a partner offering turnkey solutions to its clients. With five production sites in France and more than 200 employees, Oury Medical now has the industrial scale required to consolidate its position in the major global orthopedic and spinal surgery markets.
Advisors and contributors
Investors:
- ISALT (Fonds Stratégique des Transitions) : Laurent Piccoli, Maxime Amiant, Sarah Loertscher
- TAG Partners : Georges-Alexandre Ancenys, Thierry Manceau, André Wagner
Advisors to the Buyer (Oury Medical / TAG Partners / ISALT):
- Financial advisors: Potomac Transactions (Sébastien Drouot, Thomas Meleard, Florian Leroux); Eiger Corporate Finance (Pascal Dormont, Pierre-Louis Reynaud)
- Legal advisors: Hogan Lovells (Christophe-Marc Juvanon, Sophie Tricot); Gide Loyrette Nouel (Paul Jourdan-Nayrac, Julien Negroni)
- Tax advisor: Gide Loyrette Nouel (Alexandre Bochu, Manon Lorthiois)
- Financial due diligence: Oderis (Julien Latrubesse, Thyl Bourgeois); KPMG (Bertrand Thouvenel, Martin Dufort)
- Strategic due diligence: Avicenne (Ali Madani, Jean-Philippe Salvat)
- Legal, tax and social due diligence: Forvis Mazars (Jérôme Gertler, Iosif Cozea)
Advisors to the Seller (Céfiméca):
- Financial advisor: CIC Conseil (Christophe Kamel, Pierre-Axel Diederichs)
- Legal advisor: Viricel et Conseils (Séverin Viriciel, Dimitri Chailonick)
About ISALT
ISALT is an independent asset management company (AMF approval no. GP-19000045) specializing in long-term equity investments in French companies. Since its creation in 2020, ISALT has been developing a sustainable investment platform, providing stable and constructive capital to French companies operating in key sectors of the economy. ISALT implements an investment strategy focused on acquiring significant long-term stakes while playing an active role in corporate governance. The firm manages the Strategic Participations Fund (FSP) and the Strategic Transitions Fund (FST). For more information: https://www.isalt-gestion.com/
About the Strategic Transitions Fund (FST), managed by ISALT
The Strategic Transitions Fund (FST) is dedicated to innovative SMEs and mid-sized companies. Launched in March 2023 with the support of Caisse des Dépôts et Consignations (CDC) and the Strategic Participations Fund (FSP)—managed by ISALT since 2013—the FST was established as a limited partnership (SLP). Its objective is to support the industrial scaling of innovative French SMEs and mid-sized companies, taking into account the future needs of society. Targeting companies with advanced and robust technologies, the FST aims to finance their industrial ramp-up by supporting increased production capacity, while ensuring that environmental, technological and social transitions remain at the core of their strategy. The fund is classified as Article 8 under SFDR regulations and benefits from the support of the European Union under the InvestEU Fund.
About TAG Partners
TAG Partners is an independent investment firm (Independent Sponsor) co-founded and led by Georges-Alexandre Ancenys, Thierry Manceau and André Wagner. Its mission is to support high-potential French SMEs in their transmission, transformation and growth.
The founding partners combine CEO and investor experience to lead value creation and transition projects across three priority areas:
- Operational transformation — strengthening teams and reorienting the organization towards a new phase of development
- Strategic build-ups — reinforcing positioning within the value chain and expanding the product offering
- Commercial development — activating local and international growth drivers
TAG Partners operates under an Independent Sponsor model, bringing together for each investment a pool of co-investors—including entrepreneurs, family offices and sector experts—to foster a dynamic of exchange and co-construction with the management teams of the companies it supports.
About Oury Medical
Oury Medical is an independent French group specializing in the manufacturing of surgical instruments for orthopedics and spine. With more than 100 years of expertise, the Group supports its clients from design to the production of both standard and custom instruments.
Oury Medical operates three production sites in France, in Nogent, Chaumont and Grenoble, and offers a “one-stop solution” approach covering design, manufacturing, kitting and re-kitting of complete instrument trays, as well as maintenance and lifecycle management. The Group is led by an experienced management team serving clients worldwide.
