Physidia announces growth investment from Columna Capital to accelerate international expansion

Physidia, the European leader in home haemodialysis, announces growth investment from Columna Capital to accelerate international expansion.

  • Founded in 2010, Physidia is a leading European MedTech company focused on the development, manufacturing and commercialisation of state-of-the-art home haemodialysis solutions.
  • Physidia already sells its home dialysis solutions in more than 16 countries and has a leading market position in Western Europe.
  • This major fundraising is intended to accelerate the Company’s development to become a global leader in the sector.

Saint-Barthélemy-d’Anjou, France – Physidia SAS (“Physidia” or “the Company”), a leader in home haemodialysis solutions, announces that Columna Capital (“Columna”), a prominent pan-European private equity investor, has completed a significant investment in the Company to support its next phase of growth. As part of the transaction, Columna is joining existing shareholders, the Plowiecki family and the founders Cyril Balas and Michel Houdou, who will remain as minority shareholders.

Physidia’s mission is to provide flexibility, freedom and better quality of life to dialysis patients through the delivery of its mobile haemodialysis solutions for the fast-growing home care market. The Physidia monitor, S3, based on innovative medical technology, is one of the most compact, mobile and user-friendly dialysis monitors in the world and is currently commercialised across 16 markets in EMEA. Since inception, close to one million dialysis sessions were successfully completed on the S3 within a home setting.

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Logo 2021 physidia
Logo 2021 physidia

We are excited to welcome Columna on this journey with us as the shift towards home care is gaining momentum. Columna’s partnership and entrepreneurial approach will be instrumental to unlock the potential of the Company and will allow Physidia to improve the quality of life of thousands of dialysis patients globally,” said Cyril Balas, co-founder of Physidia, on behalf of the existing shareholders.

Our commitment to continuously evolving technology developments can help to shift notoriously debilitating, life-disruptive diagnoses into manageable outcomes and better quality of life – changing the experience of dialysis for patients across Europe,” said Didier Candelot, CEO of Physidia. “This strategic partnership with Columna will allow us to widen the reach of our existing products and services, while also making a meaningful expansion into international markets.

Physidia’s strong focus on the patients’ quality of life and its superior clinical outcomes underpin its market-leading position in Europe. With a decade-long track record of successfully delivering highest quality home dialysis treatment and proven R&D capabilities, Physidia is ideally positioned to accelerate its international expansion as the home dialysis market expands, supported by strong demand for personalised care and increased healthcare independence. It is a privilege to make a positive impact on patients’ lives through this investment in this unique French MedTech,” said Charles Nantois, Managing Director at Columna Capital.

The team’s ingenuity, resourcefulness and focused approach resonate very well with Columna’s investment strategy and complement our role as an operational and financial partner. We were impressed by what Physidia has achieved to date and by the growth opportunity that presents itself to champion home dialysis in the years ahead. We are very excited to embark on this journey with the broader Physidia team and this MedTech investment is an important milestone in Columna’s activities in France and further strengthens our healthcare franchise” said Rory Devlin, Managing Partner at Columna Capital.

Bryan, Garnier & Co served as the exclusive financial advisor and DLA Piper / Stance Avocats as co-legal advisors to Physidia.

GATE Avocats served as legal advisor and PwC, Germain Maureau and Voisin Consulting as buyside due diligence providers to Columna Capital.

About Physidia

Physidia is a French MedTech company developing, manufacturing and commercialising innovative mobile home dialysis solutions. Founded in 2010, Physidia received the CE mark in 2013 and rapidly grew to become the leading player in the home haemodialysis market in the EU. The current version of the dialysis monitor is commercialized across 16 markets in EMEA through established distribution agreements or direct. Physidia is particularly focused on leveraging technology and innovation in order to improve the quality of life for dialysis patients.

For more information, visit

About Columna Capital

Columna Capital is an entrepreneurial investment firm focusing on growth investments in Western Europe. The Columna team consists of an engaged group of professionals that actively support ambitious management teams and entrepreneurs to drive organic growth and execute on consolidation opportunities. Typically, Columna invests in companies with up to €100 million in revenue and significant growth potential. It has specific expertise in healthcare, services and the agri/food industries. Columna was founded in 2009 and operates from offices in London, Lugano and Luxembourg.

For more information, visit


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Matthew Jervois