“To date, Bastide Médical has acquired 70 companies in Europe and the United States”

The day after the announcement of the 2021-2022 results of the group specializing in the supply of medical equipment, meeting with its CEO, Vincent Bastide, in charge since 2008.

What are the results of the Bastide medical group for the 2021-2022 financial year?

The group achieved a turnover of 468M€ which is higher than the objective that we had set ourselves at 460M€. This result is driven by the remainder of the health context, in particular the sale of personal protective equipment (gloves, masks, etc.). But in addition to this volume effect, we note with interest a fairly sustained recovery of the group’s historical activities. This is partly due to the fact that traditional medicine has resumed its course.

What is the net profit for the year?

It is nearly €14.30 million. For ten years now, we have had annual growth of around 14%.

Does the current inflationary context have an impact on your results?

Yes. Currently, we are caught in a squeeze between, on the one hand, the cost of raw materials and energy, which are increasing, and, on the other, a regulated activity where the tariffs are imposed by the Health Insurance and do not allow almost nothing to pass on.

Hundreds of job creations

With its many growth projects, the group, which today has 3,500 employees, including nearly six hundred in the Gard, is constantly recruiting new employees. “We are on a trend of one hundred job creations per year, underlines Vincent Bastide. And we are still actively looking for jobs. Currently, we are recruiting nurses (eras), dietitians (ennes), medical delegates (es) , expert technicians…”

Is your external growth policy, particularly aimed at international markets, still active?

More than ever ! We started our international acquisitions eight years ago with Belgium. The aim is to dilute the risks by being present in other geographical areas than France. To date, we have purchased nearly 70 companies located in Europe and recently in North America and Canada.

Interested in the US market?

Yes, because the development potential is significant. There is a real ability for us to go further than the entry points we have chosen by buying companies. In other words, when we establish ourselves in a geographical area such as North America, we do so with the ambition to grow.

And the French market?

We are also interested in it. We have just acquired the companies Probace Meditec and 4S E-med.

What is the weight of distance selling in your turnover?

It weighs around €35 ​​million through four entities, three in France and one in England.

Are there innovative products that will soon arrive on the health market?

In terms of major technological developments, particularly in the field of diabetes, it is in the process of ramping up the semi-closed loop, which is none other than an external artificial pancreas which allows the patient, thanks to a device of the size of a smartphone, to live without having to dose your insulin. This will change the lives of patients and especially parents for the youngest.

What are the group’s prospects for 2022-2023?

We aim to achieve a turnover of at least €520 million, of course including the contributions of new acquisitions. In fact, our ambition is to exceed 30% of our turnover abroad in the next three years; and to reach a balance of around 50% in six years.

A fine of €50,000

A few weeks ago, the Bastide Médical group was forced to pay an administrative fine of €50,000 to the State, which accused it of “misleading commercial practices” concerning the delivery time for online sales of masks, and this in full Covid pandemic. “Of the 200,000 orders processed in the spring of 2020, 80 people, mainly individuals, filed a complaint because their delivery did not arrive on time, says Vincent Bastide. Faced with the emergency situation, we tried everything put in place, by hiring, among other things, fifty people, to answer the 27,000 calls a day as well as possible. Unheard of! Unfortunately, we were faced with non-compliance with deadlines by our suppliers, for several reasons that we did not control.”
And the CEO of the group goes further: “At the same time, we were asked to supply the ARS, the CHU of Nîmes… but of that, the DGCCRF did not take it into account. So yes, I accept my fault and I apologize; but I wonder if in the event of a new pandemic I would take the risk of committing €30 million to the group’s cash flow to, in the end, be judged as a kind of criminal because I I did not meet the deadlines mentioned on a site!”

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