Cathay Capital · Healthcare & Life Sciences

Bridging Europe, the US and China for healthcare champions.

Dr. Allan BekeVice President · Cathay Capital Private Equity

€6bnassets under management

11offices worldwide

22healthcare investments

14exits

€3–15m EBITDAEurope → US · China

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PARIS · HQ

Where it starts.

NEW YORK · NORTH AMERICA

The US side of the bridge.

SHANGHAI · CHINA TEAM

Doors open in China.

01Cathay at a glance

One firm, three continents: Europe, the US and China, one team.

€6bnassets under management

11offices worldwide

80+bolt-on acquisitions across Cathay portfolio companies

20 yrsinvesting in healthcare

PARISHeadquarters and the European deal team

NEW YORKNorth American private equity team

SHANGHAILocal China team for market entry

Group figures as of 30 September 2025. 80+ covers Cathay portfolio companies across all sectors; Cathay's role varies by transaction.

02What we bring

Practical support, proven in healthcare.

Grow internationally

Identify customers, distributors and partners
Support local set-up and country managers
Connect with pharma, medtech and diagnostics leaders

ProofEchosens: US and China units. Biose: a Boston unit.

Build capacity and capabilities

Support capacity expansion and senior hiring
Strengthen governance and reporting
Operating partners: ex-SVP Medtronic, ex-Labco

ProofBiose: €40m plant, staff from 150 to 350.

Scale through acquisitions

Define priorities and source targets
Support diligence, negotiation and financing
Track integration and agreed milestones

ProofMarle: three bolt-ons. Cenexi: a GMP site from Merck.

Corporate ecosystem

Sanofi Biopharma Fund (RMB 2bn), and a network across pharma, medtech and life sciences.

03Track record

Companies we have helped scale.

22healthcare investments

>€450minvested

14exits

Exited 2023

+35%revenue a year, 2019 to 2022

Microbiome CDMO, France. €40m capacity expansion, staff from about 150 to 350, a Boston unit. Exited to L-GAM and the French State, 2023.

Exited 2018

+25%revenue a year, 2014 to 2018

Liver diagnostics, France. US and China business units set up with a local product line. Exited to Astorg, 2018.

Current investment

3bolt-ons in the US and France

Orthopedic CMO, France. Tangible Solutions and Elite Medical (US, 2022), Nowak (France, 2024). Held today.

Exited 2023

GMPsite acquired from Merck

Pharmaceutical contract manufacturing, France. Capacity added through the acquisition of a GMP site.

Selected current and former investments. Healthcare figures from the Cathay deck (September 2025) and company releases; company figures are results during our holding. Cathay's role varies by transaction. Past performance is not indicative of future results.

04The team

The healthcare team, on three continents.

Dr. Allan Beke

Vice President · Cathay Capital Private Equity

European Union Paris

PhD in onco-haematology; 7 years in healthcare and life-sciences strategy. Sector depth across pharma, biotech, CRO/CDMO and medtech; focus on healthcare, life sciences and medical aesthetics.

Allan's path

2026 → Vice President, Cathay Capital Private Equity, Paris
2020–2026 CEPTON Strategies, pharma and healthcare strategy consulting: Consultant to Principal
2019 AdBio partners, venture capital analyst
Education PhD in onco-haematology, Université Paris-Saclay · MBA in Biopharmaceutical Management, ESCP

Worked with: Vivacy, Novuma, PRX, Skintech, HTL, HI5, Lifecore.

Fabien Wesse

Managing Partner

European Union United States China Paris · New York · Shanghai

25+ years of private equity, including 15+ at Cathay. Long-standing healthcare and life-sciences investor, including Biose and TransCure; supports companies on growth, M&A and international expansion.

Kejia Li

Managing Director

China Shanghai

Leads the China healthcare private equity team; 10+ deals closed in China across diagnostics, healthcare services and medical devices. Supervisory board member and exit of a medical-aesthetics hospital chain; executive committee, China Cardiovascular Innovation Club.