ActiveCap invests in medical device company exporting 70% internationally

ActiveCap – Capital Partners has just invested, through its fund ActiveCap II – Portuguese Growth Fund – Fundo de Capital de Risco Fechado (“ActiveCap II”), in PMH, a Portuguese company specialized in the development and manufacture of medical systems for the hospital sector. PMH currently exports around 70% of its production to international markets and has an established presence across Europe, notably in France, Spain, Germany and Belgium.

Founded in 1990, PMH has built a strong market-leading position, standing out for its high manufacturing flexibility, extensive customization capabilities and the high quality standards applied across its product range.

The investment was made under the Programa de Investimento Consolidar, part of the Fundo de Capitalização e Resiliência, and is primarily aimed at supporting the company’s growth strategy through geographic expansion and investment in the automation of manufacturing processes. The focus is on increasing productivity, improving operational efficiency and strengthening international competitiveness.

With extensive experience in the hospital sector, José Cordeiro, founder and CEO of PMH, stated: “This partnership with ActiveCap represents a natural step in PMH’s evolution. It will allow us to accelerate the implementation of our 2026–2030 Business Plan, further strengthening operational excellence, investment in innovation and our ability to respond to customers, while also consolidating the company’s international footprint.”

In turn, Salvador Correia de Barros, Partner at ActiveCap, noted that “The Fund is delighted to support PMH at a stage where growth is already underway.” The ActiveCap Partner highlighted the “strong alignment with the management team from day one, a determining factor in unlocking and delivering the company’s full potential, in a strategic sector in which we have long sought to invest.”

According to Gonçalo Almeida, founder and Managing Partner of Harbor Partners, an investment advisory firm: “We were very proud to support PMH in connection with this investment by ActiveCap. The company demonstrates a very robust industrial profile, combining a strong manufacturing base, high adaptability to customer requirements and a consistent track record of international growth. This transaction reflects a clear alignment between the shareholders’ vision and the right capital for the company’s current development stage, creating the conditions for disciplined execution of its expansion strategy.”

The transaction involved, on behalf of the promoter shareholders’ team, financial advisory support from Harbor Partners and legal advisory support from PLMJ Advogados. On ActiveCap’s side, the process included financial advisory support from Forvis Mazars and legal advisory support from VDA – Vieira de Almeida, Sociedade de Advogados.

About PMH
With manufacturing facilities in Samora Correia (Santarém district) and Penafiel (Porto district), PMH delivers customized medical solutions tailored to the requirements of different clients. Its product portfolio covers a broad range of devices, including administration systems and drainage systems. The company exports approximately 70% of its production, mainly to European markets such as France, Spain, Germany and Belgium. With a team of 400 employees, PMH stands out for its flexibility, discipline, and
product quality.

About ActiveCap – Capital Partners:
ActiveCap – Capital Partners, SCR S.A. is a Private Equity fund manager specializing in companies with high growth potential. Through an active investment management approach, ActiveCap aims to provide portfolio companies with the resources required to achieve their expansion and optimization objectives.