La Caisse and ARCHIMED Diagnostics Acquire Stago
Quebec investment manager La Caisse and health-care private equity firm Archimed Diagnostics have bought Stago, a French company specialized in the analysis of blood coagulation issues.
Financial terms of the agreement with the founding Viret family were not immediately available.
Stago sells its products in 115 countries and last year had revenue of about $880 million.
Martin Longchamps, head of private equity and private credit at La Caisse, said Stago is a recognized leader in blood coagulation analysis.
Stago, founded in 1945, develops and manufactures hemostasis equipment and reagents.
Stago's leadership team is taking a minority stake as part of the deal.
Stago issued a press release stating it is accelerating its growth with ARCHIMED and La Caisse:
For nearly eighty years, Stago has been developing solutions grounded in rigorous scientific standards, driven by a constant ambition: to support healthcare professionals and contribute to improved patient care.
As a leading global player in hemostasis, the company has built its identity on a culture of excellence, recognized expertise, and a long-term vision.
Today, Stago is entering a new phase in its history.
The founding family has chosen to transfer Stago to ARCHIMED, a leading investment firm exclusively focused on the healthcare industries holding the expertise and resources to support Stago’s growth and accelerate value creation. La Caisse, a global investment group, is also participating in this transaction as a minority shareholder.
ARCHIMED brings solid experience in supporting high-potential companies. Its sector positioning and long-term approach offer Stago a suitable framework to reach a new milestone.
This change in ownership is part of a structured development strategy that continues Stago’s commitments to its clients. Under ARCHIMED’s and La Caisse’s leadership, the company aims to strengthen its investment capabilities, accelerate its innovation projects, intensify its international expansion, and leverage its scientific expertise in operational and commercial performance.
Building on its solid foundations, Stago is embarking on an ambitious growth phase, where scientific excellence and performance are the two drivers of sustainable development.
And earlier today, La Caisse issued this press release stating ARCHIMED Diagnostics, along with minority investor La Caisse, acquires Stago, a global leader in blood coagulation analysis:
ARCHIMED Diagnostics – the Diagnostics team of global private equity healthcare specialist ARCHIMED – has purchased alongside global investment group La Caisse (formerly CDPQ), Stago, a world leader for the analysis of blood coagulation issues (hemostasis). Stago develops and manufactures hemostasis equipment and reagents. It has unique expertise and a track record of innovation in this specialty.
Stago is held through ARCHIMED’s MED Platform II fund and was purchased from the founding Viret family by the Diagnostics team through an unspecified mix of equity and unitranche debt. Stago sells its products in 115 countries and posted revenues of €550 million in 2025. Based in Asnières-sur-Seine (greater Paris), Stago was founded in 1945 and is the only pure-play hemostasis analysis company in the world. Stago’s leadership team is taking a minority stake as part of the deal.
“In addition to financial muscle, ARCHIMED and La Caisse have the operational sophistication and discretion to help us grow at a pivotal moment in our company’s history,” says incumbent Stago CEO Jean‑Claude Piel, who retires from his post, becoming Chief of the Scientific and Technology Monitoring Committee. “ARCHIMED’s diagnostics expertise is key for accelerating the efficient rollout of a major, new generation of Stago products,” says Philippe Barroux, Stago’s CEO-elect. Barroux, a 38‑year Stago veteran, is currently CEO of operations in North America and China. “This partnership is all about reigniting innovation at Stago.”
ARCHIMED has made a total of eight diagnostics acquisitions, exiting two: Diesse, which became a pioneer in the development of cutting-edge systems for diagnosing inflammatory diseases and immune disorders in partnership with ARCHIMED; and Eurolyser, a point-of-care testing specialist, which saw profits rise more than two-fold and sales growth accelerate from the high single-digits to 25 percent annually during three years of ARCHIMED ownership.
“Our aim is to provide Stago with the resources it needs to accelerate global growth and to reinforce its leading position as a pure player with unrivalled expertise,” says ARCHIMED Managing Partner Vincent Guillaumot. “Stago has a pipeline of innovative products that should allow its revenues and profits to grow well above industry averages,” adds ARCHIMED Partner Antoine Faguer.
“Stago is a recognized leader in blood coagulation analysis, operating in a segment we know well, and serving a mission-critical role in medical diagnostics. Our investment alongside ARCHIMED reflects the value we place on partnerships and businesses with strong fundamentals,” said Martin Longchamps, Executive Vice-President and Head of Private Equity and Private Credit at La Caisse.
Working closely with Stago management, ARCHIMED will deploy its MedValue template – ARCHIMED’s levers for accelerating the growth of partnering companies via internationalization (often including bolt-on acquisitions), innovation and product range expansion.
Diagnostics is a primary investment sector for ARCHIMED, and one of the seven major sectors mapped through ARCHIMED’s MedSeg, its proprietary sector analysis tool covering 430 sub-segments of the global health industry. For the acquisition of Stago, ARCHIMED also deployed MedDiscover, a proprietary set of tools and processes permitting ARCHIMED to identify and effectively engage with leading companies operating in ARCHIMED’s prioritized sub‑sectors.
Stago is MED Platform II’s 10th investment. All of MED Platform II’s investments have been first-time leveraged buyouts for the companies acquired. MED Platform II, more than two times oversubscribed, closed on €3.5 billion in June, 2023. According to Preqin data, the fund is a top quartile performer for its vintage year as are all ARCHIMED funds. After the Stago transaction, MED Platform II is some 70 percent invested.
ABOUT ARCHIMED
www.archimed.group - With offices in Europe, North America and Asia, ARCHIMED is a leading investment firm focused exclusively on healthcare industries. Its mix of operational, medical, scientific and financial expertise allows ARCHIMED to serve as both a strategic and financial partner to healthcare businesses. Prioritized areas of focus include Animal & Environmental Health, Biopharma Products, Consumer Health, Diagnostics, Healthcare IT, Life Science Tools & Services, and MedTech. ARCHIMED helps partners internationalize, acquire, innovate and expand their products and services. ARCHIMED manages €9 billion across its various funds. Since inception, ARCHIMED has been a committed Impact investor, both directly and through its EURÊKA Foundation.
ABOUT LA CAISSE
At La Caisse, formerly CDPQ, we have invested for 60 years with a dual mandate: generate optimal long-term returns for our 48 depositors, who represent over 6 million Quebecers, and contribute to Québec’s economic development.
As a global investment group, we’re active in the major financial markets, private equity, infrastructure, real estate and private credit. As at December 31, 2025, La Caisse’s net assets totalled CAD 517 billion. For more information, visit lacaisse.com or consult our LinkedIn or Instagram pages.
This is an excellent acquisition for La Caisse, co-investing alongside ARCHIMED, taking a minority interest in Stago, a world leader for the analysis of blood coagulation issues (hemostasis).
The kicker here is Stago's management will take a minority stake in the acquisition, ensuring alignment of interest.
So what is hemostasis? From the Cleveland Clinic:
Hemostasis (hee-muh-stay-sis) is your body’s normal reaction to an injury that causes bleeding. This reaction stops bleeding and allows your body to start repairs on the injury. You need this ability to stay alive, especially with significant injuries.
When all goes well, hemostasis is a good thing. But in uncommon cases, the processes that control hemostasis can malfunction. This can cause potentially serious — or even dangerous — problems with bleeding or clotting.
But you should read it all here to really understand what it is and how issues arise.
I would also invite you to read about Stago's products and services to learn how the company is a world leader in this field and key figures here.
I would also recommend you read more about Stago here to appreciate how successful this company has become:
From Research & Development and Production to Logistics, Marketing, Sales and International Distribution, Stago remains in control of its strategy at all levels.
Certified ISO 13485, ISO 9001 and ISO 14001 for its main reagent manufacturing plant. the group’s industrial activities are mostly concentrated in France. Its geographical expansion has led to opening R&D and production centers in the USA, Netherlands, Germany, Ireland and China.
Ever since our American subsidiary was established in 1985, our distribution network grew considerably throughout the world. Since 2003, 17 new affiliates have been opened: China (2003), United Kingdom (2005), Dubai (2007), Australia/New Zealand and Canada (2008), Hong-Kong (2011), Germany, Austria, Spain, Italy, Portugal, Switzerland, Belgium, Netherlands (all opened in 2012), India (2014), Brazil (2016), Turkey (2017) and Saudi Arabia (2020).
The companies belonging to the Stago Group are: Diagnostica Stago, Agro-Bio, BioCytex, DSRV, Hemosonics, Synapse, Tcoag and BioCare.
A Human Adventure
Founded by Jacques Viret at the end of the Second World War to market a solution to ease digestion and hepatic disorders, the Stago Group has now almost 2,600 employees, over half of whom are based in France.
The diversity of the men and women, professions and know-how is what allows Stago to develop, produce and sell the widest range of reagents and Hemostasis test instruments throughout the world using the most advanced technologies.
Customer satisfaction is a key value and everyone is conscious that there is a patient behind their actions.
With over 350 marketed products, Stago is a worldwide reference in Hemostasis and a 1st class partner for biomedical laboratories.
Stago also has a licensed training center, offering theoretical and practical training courses at different levels.
Specialized in the fields of Hemostasis and Thrombosis, Stago invests in research and innovation to develop new and better performing reagents, systems and solutions. With more than 70 years of experience, Stago has acquired a charismatic image in Hemostasis and is well recognized among the international scientific world .
In this respect, Stago regularly organises symposiums or scientific meetings on Hemostasis research and latest practices, during conferences or as separate events.Worldwide Presence
Stago is represented in over 110 countries via its affiliates and an extensive distribution network.
Each affiliate develops the processes implemented by that group, to provide our customers with the best support in terms of quality and services.
Each distributor is chosen on strict performance appraisal criteria with regards to their organisation and staff: knowledge of Hemostasis, after-sales service capacities and commitment to promoting our products in a “customer satisfaction” culture. A specific internal structure (GSA) trains and monitors these teams.
Diagnostica Stago is the only independent international company dedicated to the exploration of Hemostasis. The mission of every Stago employee is to develop and provide best-in-class diagnostic systems, services and support to healthcare professionals in order to better prevent, understand, diagnose, treat and follow-up Hemostasis disorders.
With more than 20,000 active systems installed in more than 110 countries, Stago has successfully created and continues to develop a comprehensive range of services involving all our teams, with a permanent focus on patients. We attach crucial importance to customer satisfaction, a mission that is underpinned in the values shared within the company: innovation, quality, expertise, team spirit and long-term commitment.
Involved in human healthcare, ethics are a second nature to us, and a fundamental and long-term commitment.
All Stago North America employees are dedicated to these values and they are fully committed to anticipate and respond to the needs of our North American customers.
Diagnostica Stago, a specialist in thrombosis and hemostasis diagnostics, reported a strong EBITDA of €108 million to €121 million in 2024 (based on different filings). The company, which is a key player in clinical laboratory automation, achieved a 2024 turnover of approximately €450 million with an EBITDA margin over 24%, indicating strong profitability.
“Stago is a recognized leader in blood coagulation analysis, operating in a segment we know well, and serving a mission-critical role in medical diagnostics. Our investment alongside ARCHIMED reflects the value we place on partnerships and businesses with strong fundamentals.”
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