Strüngmann Family Office Athos Acquires Stake in Doctolib

Athos, the Munich-based family office of twin brothers Andreas and Thomas Strüngmann, has acquired a minority stake in Doctolib, the French digital health company, as part of a small secondary round. In the transaction, the new shareholders — including Athos, Denmark’s A.P. Moller Foundation of the Maersk family, New York-based investment vehicle Invus, and London growth investment firm Salica — purchased shares from early-stage investors, with no fresh capital flowing into the company. Doctolib was valued at €3.6 billion in the deal, a notable discount to its 2022 valuation of €5.8 billion, a divergence the company’s management attributes to broader secondary market dynamics rather than operational underperformance. Founded in Paris in 2013, Doctolib operates one of Europe’s leading online appointment booking platforms for healthcare providers. As of late 2024, the company had contracts with 400,000 paying healthcare providers — including approximately 100,000 in Germany — and 25 million German patients held an active patient account on the platform. Operationally, the company reported annualized revenue of €422 million in 2024, up nearly one third year-on-year, and achieved profitability for the first time.

About the Strüngmann Family Office: Athos

Athos is a Munich-based single-family office representing Andreas and Thomas Strüngmann, twin brothers who founded the generic pharmaceuticals manufacturer Hexal and sold it to Novartis in 2005 for €5.65 billion. The family office is best known for its approximately 42 percent stake in BioNTech, a portion of which has already been partially divested at a reported gain of 550 percent. Beyond life sciences and healthcare technology, Athos has recently expanded into real estate, acquiring the prestigious Munich mixed-use complex Fünf Höfe from Union Investment for a reported €750–800 million, following an earlier acquisition of the Villa Kennedy hotel in Frankfurt. As of 2025, both brothers were ranked 19th on the Manager Magazin list of Germany’s wealthiest individuals, each with an estimated net worth of approximately €11 billion. With the Doctolib investment, Athos cited the company’s healthcare expertise, strong European focus, and alignment with a long-term investment strategy as key selection criteria.

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Article Source: Private Banking Magazin, 07.04.2026