KKR is evaluating a potential acquisition of GPI SpA, an Italian healthcare technology firm, as part of its strategy to expand private equity exposure in Europe’s high-growth sectors, according to sources cited by Bloomberg. 

The Milan-listed company has seen its share price rise 24% in 2025, pushing its market value to approximately €377m ($438m). KKR is reportedly in early-stage discussions with advisors regarding a take-private transaction. However, no formal offer has been made, and talks remain preliminary.

Founded in Trento, GPI provides digital infrastructure to hospitals and health systems, including diagnostic software and clinical data platforms. The company generated €510m ($556m) in revenue in 2024, with EBITDA rising 31% year-on-year to €105m ($121.8m). Net profit from continuing operations stood at €15m ($17.4m).

CEO Fausto Manzana, who controls 48% of the company and holds 57% of its voting rights through an investment vehicle, has not commented publicly on the potential deal. KKR has also declined to comment.

The possible transaction underscores ongoing private equity interest in European healthcare technology platforms, particularly those offering scalable solutions aligned with operational efficiency and cost management. GPI fits this profile, as healthcare providers continue to shift from inpatient to digital, decentralised care.

The move would also align with KKR’s broader European investment strategy. The firm has recently executed similar cross-border transactions, including acquisitions of Swedish-based Karo Healthcare and post-trade infrastructure provider OSTTRA.

With approximately $710bn in assets under management and over $1.2tn in global dry powder across the industry, well-capitalised firms like KKR are increasingly targeting mid-market tech-enabled assets in sectors with defensive growth fundamentals.

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