Primo Capital SGR has acquired a significant stake in MT Ortho S.r.l., an Italian company specializing in implantable devices for spinal neurosurgery and orthopedics, through its Primo Health fund. The deal was valued at $75 million with closing on October 14, 2025.
Transaction overview
Primo Capital SGR, operating through its Primo Health private equity fund, has secured a controlling interest in MT Ortho S.r.l., an Italian medical device company founded in 2001. The investment was made to support and accelerate the technological and commercial growth of MT Ortho within the healthcare sector. With revenues of approximately €11 million in 2024, growing at around 15% annually, MT Ortho offers a range of spinal neurosurgery and orthopedic implantable devices manufactured through advanced titanium-based 3D printing techniques.
Deal structure and financing
The transaction involves Primo Health making a series of capital contributions to secure more than a 50% stake in MT Ortho. Specific details on the equity-debt split have not been disclosed, but given the $75 million valuation, it is likely that significant equity was provided alongside some level of debt financing from undisclosed sources. Lead investment banks and financial institutions involved included DLA Piper for legal counsel and Value Track SIM SpA as sell-side advisor. Primo Health raised €65 million to fund this and future healthcare investments in small and medium-sized Italian companies.
Strategic context
Primo Capital's acquisition of MT Ortho aligns with its objective to invest in high-growth potential SMEs within the healthcare sector that possess innovative technologies addressing real market needs. The deal provides MT Ortho with strategic financial support for expanding its technological innovation, product development, and international reach beyond Italy’s borders into EU and North American markets. MT Ortho's proprietary devices based on trabecular titanium vertebral cages are expected to drive future growth within the $53 billion global orthopedic market.
Regulatory path
As of the announcement date, no specific regulatory hurdles or filings have been reported for this transaction. Given the nature of the investment and the companies' involvement in medical device manufacturing and distribution across multiple European countries, it is likely that compliance with relevant EU medical device regulations such as MDR was a consideration during due diligence processes conducted by Primo Health's legal and financial advisors.