Healthcare private equity firm, ArchiMed, announced it has acquired a majority stake in Cardioline, a European cardiology diagnostics company, from Brown Gibbons Lang & Company, an investment banking and financial advisory firm.

Cardioline manufactures and provides traditional cardiology devices and services. The firm provides 20 percent of hospital and 50 percent of physician demand for electrocardiogram machines in Italy and is one of Europe’s largest providers of cardiology telemedicine.

The firm uses proprietary technology and software for remote testing and diagnostics. Additionally, the firm is releasing a new software designed for clinical research applicaitons and will allow labs to respond to increasing demand.

This is the first purchase made by the ArchiMed MED III Fund which closed on 650 million euros in August 2021.