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Legrand Care’s acquisition of Axel Health reflects a broader ongoing consolidation trend within the European HealthTech market
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On July 29th, 2026, Legrand Care, the specialised connected healthcare technology division of French electrical and digital building infrastructure multinational Legrand SA, finalised the acquisition of Finnish digital patient flow management provider Axel Health Oy.
The transaction involved the complete buy-out of the equity stake held by Stockholm-based growth private equity firm Standout Capital, alongside minority holdings retained by key founders and management. Founded in 2008 and headquartered in Espoo, Finland, Axel Health has grown into a dominant provider of workflow software for acute public health networks, regional healthcare service authorities, and social care providers across the Nordic region.
Financial disclosures indicate that Axel Health generated pro forma revenues of approximately €9 million in fiscal year 2025, yielding an EBITDA between €2.5 million and €3.0 million. Standout Capital originally entered Axel Health via its Standout Capital I fund in May 2019. Over the course of Standout's seven-year investment lifecycle, Axel Health expanded its market leadership across Finland and Sweden, achieving a threefold increase in annual recurring revenue and a fourfold expansion in EBITDAC. This sustained expansion was achieved despite widespread structural budget constraints across European public health systems.
The transaction was structured as an all-cash strategic acquisition designed to allow rapid operational integration into Legrand Care's digital platform.
Sell-side M&A advisory was managed exclusively by MCF Corporate Finance, with a transaction team comprising Erik Pettersson, Robert Sällström, Johanna Tell, Amos Aaltio, and Jakob Scott. Legal representation for Axel Health and its selling equity holders was provided by Avance Attorneys.
Click here to read the report https://www.healthcare.digital/single-post/strategic-consolidation-in-european-healthtech-legrand-care-s-acquisition-of-axel-health