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ADVISO PARTNERS advises ISATIS, GARIBALDI and the shareholder managers of WINBACK on the group's capital reorganisation and the acquisition of a minority stake by CAPZA

Founded by Christophe BUEE and Pierre-Nicolas LEBAS, WINBACK designs, manufactures and distributes cutting-edge medical devices based on three non-invasive technologies (TECAR, cryotherapy and compression). These devices are mainly used for their therapeutic applications in the field of rehabilitation and sports medicine, to relieve pain, treat inflammation and accelerate recovery phase, helping patients to regain their mobility as quickly as possible. 

WINBACK has always put innovation and user experience at the heart of its development. Combined with the involvement of thousands of therapists as part of the WINBACK Academy, the Group has become the world leader in TECAR technology in the area of rehabilitation with nearly 8,000 therapists using WINBACK products and 70,000 treatments performed every day. 

With a highly diversified and international customer base covering three continents (Europe, Asia and America), the Group generated revenues of more than €25 million in 2021, almost half of which generated at international level. Over the last three years, WINBACK has made 4 acquisitions in France, Germany and the United Kingdom in order to reinforce its footprint in Europe and has established 2 entities in South Korea and the United States to address the Asia and American markets. 

Based in Biarritz, the Group employs over 100 professionals in sales and operations and has recently set up a R&D team of more than 10 people in France and South Korea. 

With the support of CAPZA, WINBACK aims to accelerate its international development, particularly through targeted acquisitions, and to continue to diversify its product offering. 

WINBACK has welcomed CAPZA on board as a minority shareholder. The two founders, supported by their team, have reinvested significantly in the transaction and retain a majority stake in the Group. 

We were attracted by WINBACK's development project, led by a management team with a real strategic vision of its market. We believe in the strong potential of the Group, which has demonstrated its ability to innovate and its experience in external growth and internationalization. We are proud to work alongside them in this new chapter of their growth.” - Fabien BERNEZ, Managing Partner, Flex Equity, CAPZA 

Our group is young - under ten years old - and has many opportunities for growth in the next five years. We are very pleased to be able to benefit from the CAPZA team's expertise in supporting growing SMEs. Thanks to their support, we will continue to structure the Group and strengthen our R&D teams, and we can continue to envisage strategic acquisitions to round out our current offering.” - Pierre-Nicolas LEBAS and Christophe BUEE, Co-founders and CEO, WINBACK 

Under the leadership of a high-quality management team led by founders Pierre-Nicolas LEBAS and Christophe BUEE, and with the support of its historical financial partners GARIBALDI and ISATIS, WINBACK has quickly become the leading MedTech in the field of TECAR therapy globally. The process we led attracted numerous financial investors, as the Group combines organic growth, profitability, product innovation, build-up opportunities and a strong international presence. With CAZPZA on board as shareholder, the Group will be able to accelerate its international development and seize targeted external growth opportunities.” - Romain Massiah, Partner, ADVISO PARTNERS