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Cinven acquires Theramex for €2.6bn as Carlyle and PAI secure exit

Wednesday, November 4, 2026 · first reported by Private Equity Wire and 1 other

Cinven has agreed to buy Theramex, a women's healthcare company based in London, from Carlyle and PAI Partners. The deal values the business at about €2.6bn, according to the Financial Times as relayed by Private Equity Wire. The sellers bought Theramex in 2022 for €1.4bn.

Theramex makes treatments for menopause, fertility, contraception and osteoporosis and operates in more than 80 countries. Cinven is said to plan further international expansion and product development.

Firm
Cinven
Also named
Carlyle, PAI Partners, Theramex
Deal value
$2.9B
Asset class
Private equity
Geography
Europe

The summary and fields above are extracted from the published reports and can contain errors. The linked articles are the source of record.

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