Extens completes a new strategic exit with the sale of Must to Orisha

Back Published on 02/07/2024

Extens, the software investor for healthcare, announces the sale of Must to Orisha, a European software publisher dedicated to the healthcare, retail, real estate, construction, and agritech sectors, backed by TA Associates. With the support of Extens, Must has established itself as a key leader by developing a comprehensive offering exclusively dedicated to home healthcare service providers.

Founded in 1991 and based in Limoges, Must is a publisher of specialized software solutions that enable comprehensive management tailored to the specific needs of home care, respiratory assistance, orthopedics, and infusion, nutrition, and insulin therapy. Today, the company has nearly 100 employees, serves over 1,100 clients and generates a revenue of EUR 10 million.

Since the initial investment in April 2017, Extens has played a crucial role in the development of Must, supporting the company in its strategic initiatives and expansion. In 2021, Extens reinvested alongside BNP Paribas Développement, enabling Must to continue its growth in France and strengthen its market position in management solutions for home healthcare service providers.

Thanks to Extens’ operational and strategic support, Must has maintained its technological and functional lead. Today, the company holds the top position in each segment within home healthcare services, with a 40% market share in respiratory assistance, 20-30% in infusion, nutrition and insulin therapy, 40% in home care, and 30% in orthopedics.
« We are proud to have contributed to the rise of Must and look forward to its continued success within the Orisha Group. This operation, emblematic of Extens' approach as a specialist investor, demonstrates the added value brought to the companies and leaders we support. »