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Change is the driver of opportunity - a new venue, new volume and new value

As an event organiser, there is always a growing sense of anticipation that builds to a crescendo before the start of an event. This is followed by the acute excitement during its delivery, and, all being well, a sense of achievement and value delivered to bask in (however briefly) afterwards. [+]
JUNE 14, 2024

HBI 2024: New models for the new era — reflections on the conference

HBI 2024  brought together healthcare leaders, investors, and innovators from around the globe to make deals, build networks, and explore the rapidly evolving healthcare landscape. [+]
JUNE 14, 2024

NMC Health considering sale and IPO

NMC Health, the UAE’s largest private healthcare provider, has appointed investment bank Rothschild to advise on options for its shareholders. The options under consideration include a sale and an IPO. The company was previously listed on the London Stock Exchange before it was placed into administration in 2020. [+]
JUNE 14, 2024

HBI 2024 Day Three, Afternoon Briefing

The afternoon of day three of HBI 2024 included sessions on getting the most out of your data, elderly care, diagnostic labs, and medical aesthetics. [+]
JUNE 14, 2024

HBI 2024 Day Two, Morning Briefing

The morning of day two at HBI 2024 included sessions on the healthcare M&A landscape, impact investment and the war for talent. [+]
JUNE 14, 2024

HBI 2024 Day Three, Morning Briefing

The morning of day three of HBI 2024 included sessions on the right model for AI, ophthalmology, diagnostic imaging, nuclear medicine and occupational health. [+]
JUNE 14, 2024

KKR makes AI investment in India's Infinx Services

AI continues to make inroads in healthcare. Digitalisation and the use of AI were prominent topics in nearly every panel discussion at the recent HBI 2024 conference, held from June 10 to 12, with 580 delegates from 40 countries in attendance. [+]
JUNE 14, 2024

emeis sells portfolio of three nursing homes to Healthcare Activos

One month after selling eleven nursing homes in the Netherlands to Bouwinvest, the multinational French care home giant, emeis, has announced another significant transaction. They have entered into a sale and leaseback agreement with Healthcare Activos, a Spanish healthcare real estate investor, valued at approximately €56 million. [+]
JUNE 14, 2024

HBI 2024 Day Two, Afternoon Briefing

The afternoon of day two of HBI 2024 included sessions on dental services, veterinary services the move to preventive healthcare, decarbonisation and the race to decarbonise. [+]
JUNE 14, 2024

HBI 2024 Day One Briefing

HBI 2024 opened with a day of workshops, concluding with the HBI 2024 welcome reception hosted by medtech company Siemens Healthineers, and a dinner hosted by consulting firm McKinsey & Company. [+]
JUNE 14, 2024

HBI News Round Up, 14th June 2024

In this HBI News Round Up, we look at Denmark’s new rules for foreign healthcare workers, healthcare-focused PE fund Tata Capital Healthcare Fund’s multi-million investment into pharma firm Orbicular Pharmaceutical to develop its R&D work, the awarding of a multi-million diabetes treatments contract to American pharma and medical devices group Abbott in Cantabria, Spain, and a partnership in Spain to establish a rare diseases research centre. [+]
JUNE 14, 2024

UK private hospital admissions hit record levels in 2023 - Infographic

This infographic looks at the private hospital admissions in the United Kingdom, drawing on data from a Private Healthcare Information Network (PHIN) report. [+]
JUNE 7, 2024

What does FCA's final anti-greenwashing rules mean for the UK healthcare sector?

In 2023, global temperatures soared to ~1.5°C above pre-industrial levels, making it the hottest year on record. As we enter mid-2024, extreme heat persists, with several Asian countries facing prolonged periods above 40°C.  [+]
JUNE 7, 2024

Modi's third term: what does it mean for India's healthcare sector?

India's Lok Sabha Elections 2024, conducted between April 19 and June 1, have concluded, with results announced on June 4, 2024. The NDA-led alliance emerged victorious, with Prime Minister Narendra Modi eyeing a third term.  [+]
JUNE 7, 2024

Saudi’s $1tn+ NEOM megaproject “poised to redefine the future of healthcare”

Saudi Arabia's $1 trillion + futuristic megaproject NEOM is not just aiming to build something unprecedented from an engineering, architectural and urban design perspective. Its plans for shaking up healthcare are equally radical. We spoke to Mahmoud AlYamany, NEOM’s Sector Head, Health and Wellbeing, to learn more about this. [+]
JUNE 7, 2024

HBI News Round Up, 7th June 2024

In this HBI News Round Up, we look at the recent UK cyberattack that disrupted healthcare services at hospitals and GP clinics, Sweden's 'Care Recovery Plan', the plans for the Swedish island of Gotland propose the region become a pilot area for state intervention and Australia's five-year deal with pharmacists.  [+]
JUNE 7, 2024

DrDoctor partners with MBI to tackle waiting lists with AI

UK-based health tech companies DrDoctor and MBI Health have partnered to help hospitals better manage their elective care waiting lists. DrDoctor’s founder Tom Whicher explained to us how MBI’s patient stratification tools will help in the work they are doing aimed at transforming the way patients interact with secondary care and easing healthcare shortages. [+]
JUNE 7, 2024

Healthcare Activos raises new fund worth €650m

Pan-European Spanish healthcare real estate investor Healthcare Activos has launched a new investment fund worth €650 million. This is the REIT’s second fund, and will, in contrast to the first fund, be primarily focused on making investments outside of Spain and Portugal. Jorge Guarner, Activos’ President and Founder, tells us more. [+]
JUNE 7, 2024

UAE's Burjeel forms major joint venture with Colombia's Keralty

UAE-based Burjeel Holdings has joined forces with Colombian multinational Keralty in a cross-regional deal to establish a new healthcare enterprise aiming to deliver high-quality, affordable, and prevention-focused care. [+]
JUNE 7, 2024

The UK’s missing middle market for dementia care

HBI recently reported on the looming dementia wave, which most countries are poorly equipped to tackle. In the UK in particular there is a huge gap in provision of care home places for people with dementia of medium severity. Eilert Hinrichs, Partner at L.E.K. Consulting, a strategy consultancy, recently co-authored an executive insight about this problem. He shared some ideas with us about what can be done about it. [+]
JUNE 7, 2024

The future of elderly care — an interview with James Tugendhat, CEO of HC-One

With HBI 2024 now just a couple of days away, we spoke with James Tugendhat, CEO of HC-One, about the care home provider’s digitalisation and data utilisation work, which has helped it to bolster its position post-COVID and improve quality processes and outcomes. [+]
JUNE 6, 2024

Moving the dial on sustainability — an interview with Ambika Jindal of ING

With HBI 2024 now under a week away, we spoke with Ambika Jindal, Group Head of Sustainability Integration & Implementation at ING, about the bank’s sustainability journey and the importance of sustainability generally in the healthcare sector. [+]
JUNE 5, 2024

Guest Post: Embedding quality care into the culture of emerging market health

It is tempting to think of universal health coverage as a quantitative endeavour since, after all, the goal is to bring sustainable and accessible health care to more and more of the planet’s people. But while numbers and quantity matter, the mission is about quality at its heart. [+]
JUNE 4, 2024

Guest Post: Building ethical governance into emerging market health care

Few relationships embody and require trust quite like the one between patients and doctors. Every minute of every day, all over the planet, people put their lives in the hands of health care professionals and the facilities they work in. [+]
MAY 31, 2024

TVM Capital raises $250m to invest in Saudi

TVM Capital Healthcare, an emerging markets PE firm based out of Singapore and Dubai, has raised $250 million to invest in the ongoing transformation of Saudi Arabia’s healthcare sector. The PE firm says that, when combined with co-investments from its partner base, it expects a total of $400-500 million to be mobilised by its Afiyah Fund, making it “the largest of its kind”. [+]
MAY 31, 2024

“Nice words, but less money” — new Dutch government announces healthcare prospectus

The newly-formed far-right Dutch coalition government of the PVV, VVD, NSC and BBB parties this month laid out its agreed policy programme in the document ‘Hoop, Lef en Trots’ (‘Hope, Courage and Pride’). While the agreement expresses the new government’s intention to improve healthcare accessibility and make the sector more attractive for workers, it also outlines substantial budget cuts that have raised concerns among healthcare industry groups. [+]
MAY 31, 2024

India’s journey from a nurse-surplus country to nurse-deficient country

The world is facing a major healthcare workforce crisis. The effects of shortages are already being felt across both developed and developing countries. By 2030, the World Health Organisation (WHO) predicts a shortage of 10 million health workers globally, predominantly in low and lower-middle-income countries. [+]
MAY 31, 2024

India's IVF market ripe for consolidation - Infographic

In this infographic we explore India's IVF market, which is ripe for consolidation. [+]
MAY 31, 2024

Workers in Finland’s private labs and imaging sector go on strike

Workers in Finland’s private diagnostic imaging and labs sectors have called a strike over wages. Major groups Mehiläinen, Terveystalo, Pihlajalinna, Synlab and Vita Laboratories will be affected. However, a Terveystalo spokesperson tells us the strikes “are not expected to have a material impact on providers nor risk the health of our patients”. [+]
MAY 31, 2024

Will Germany's hospital reform fix the sector’s problems?

Two weeks ago Germany’s cabinet government approved Health Minister Karl Lauterbach’s hospital reform. The current watered-down reform’s key feature is a proposal to move the sector’s reimbursement model away from fee-per-service payments, purportedly to reduce the incentive to overtreat. However, experts tell us the real motivation is still to shut down smaller unspecialised hospitals. Will it succeed in doing so? [+]
MAY 31, 2024

Labour targets 18-week maximum wait for UK NHS treatment, proposing opportunities for private sector

The UK Labour Party this week unveiled its latest election pledge — to clear the NHS backlog of patients waiting over 18 weeks for treatment within the first term of a Labour government. The party expects this to involve making greater use of the private sector. [+]
MAY 30, 2024

Junior doctors to strike days ahead of UK election

Junior doctors in England have announced a new round of strikes as their pay dispute with the government continues unresolved. The British Medical Association (BMA), the UK’s trade union for doctors, confirmed that junior doctors will stage a full walkout from 7am on June 27, 2024, to 7am on July 2, 2024. [+]
MAY 30, 2024

Careology partners with Evolent to provide digitalised care navigation for cancer patients

UK digital health company Careology has expanded into the US via a partnership with Evolent, a company that provides a care navigation service to cancer patients. Paul Landau, Careology’s founder and CEO, explained to us how the company’s digital platform will enhance the scalability of Evolent’s service, and how the care navigation model, which currently only exists in the US, could improve cancer care in Europe. [+]
MAY 24, 2024

How can patients be encouraged to become active consumers of healthcare?

Last week we reported on the UK government’s plan to increase the options available to NHS England patients for certain types of out-of-hospital care, in what it hailed as “the largest expansion of patient choice in the NHS in a decade”.  [+]
MAY 24, 2024

Interview: Avinav Nigam, Co-Founder and CEO, Tern Group

Avinav Nigam and Krishna Ramkumar founded Tern Group to tackle healthcare professional shortages by harnessing the power of technology to make recruitment easier and more ethical for healthcare businesses and prospective employees alike. [+]
MAY 24, 2024

Slew of M&A deals expected in Germany as MVZ investment ban “off the table”

German Health Minister Karl Lauterbach’s intention to ban investors from owning outpatient facilities appears to no longer have any realistic chance of being passed. Investors and advisors are consequently gearing up for a flurry of deals in H2 from pent-up demand.  [+]
MAY 24, 2024

UK government pushes for mandatory NHS work for new dentists

The UK government has launched a consultation proposing that new dental graduates either work in the NHS for a set period after qualifying or be faced with repaying a large proportion of their training costs. [+]
MAY 24, 2024

Interview: Rick Goud, Zivver

Zivver is a Dutch software company that provides solutions which help healthcare organisations improve the security of their electronic communications. The company is headquartered in Amsterdam, but its security tools are now being used all over the world. Rick Goud, the company’s founder, explained to us how they work. [+]
MAY 24, 2024

Fidelidade targets €500m RT1 green capital raise

Fidelidade, Portugal’s largest health insurer, is preparing a green bond sale that could raise up to €500 million, in what would be a first issuance of sustainable capital instruments by a European insurer. [+]
MAY 24, 2024

Spanish firms dominate Europe's fertility industry - Infographic

In this infographic we explore the top five fertility companies in Europe.  The analysis is grounded in 2022 revenue data taken from our own HBI database. [+]
MAY 24, 2024

UK’s CMA launches inquiry into veterinary sector

The Competition and Markets Authority (CMA) has announced the launch of a full-scale investigation into the UK’s veterinary sector, following a sizeable response to its initial review in September 2023. The initial review generated 56,000 responses from pet owners and professionals, prompting the authority to launch a market investigation. [+]
MAY 23, 2024

Interview: Dr. Volker Wendel, Sanoptis

Dr. Volker Wendel founded Sanoptis in 2018 in Switzerland with Carsten Horn. Six years later, the group has grown to more than 400 locations across six European countries. The group was initially backed by PE firm Telemos Capital, who then sold it to Belgian holding company Group Bruxelles Lambert (in 2022). Wendel explains to us how the group is able to add value to ophthalmologists who join the network and shares which areas the group will be focusing on in the coming years. [+]
MAY 22, 2024

Mid Europa to sell Romanian provider Regina Maria for over €1bn 

Mid Europa Partners, a central and eastern Europe-focused PE investor, is selling Regina Maria, Romania’s second largest private health care provider by revenue, after almost a decade of ownership. Turkish group Acibadem is rumoured to be likely to bid, although the group would not confirm this to HBI. [+]
MAY 17, 2024

How do you get patients to do what they say they will? Tastier carrots or bigger sticks?

The UK this week reported that people on long-term sick leave or classed as economically inactive has risen to 2.8 million, up 300,000 on the previous year. This statistic came fast on the heels of Prime Minister Rishi Sunak’s latest controversial speech calling for an end to the UK’s ‘sick note culture’ in a call to strip GPs of their power to sign people off work. [+]
MAY 17, 2024

UK NHS patients to get “largest expansion of patient choice in a decade”

Pilots to test offering UK NHS patients a choice of multiple providers, including private ones, for certain types of routine out-of-hospital care will begin in selected local areas in the autumn, in what the UK government is hailing as “the largest expansion of patient choice in the NHS in a decade”. The new options for patients could help reduce waiting lists and improve care, but risk being underutilised, as has been the fate of the NHS’ other choice-expanding initiatives to date. [+]
MAY 17, 2024

Ireland's nursing home bed availability declines, yet investment opportunities abound

A protest erupted last week in Nenagh, Ireland, as the Health Service Executive (HSE) and Department of Health decided to repurpose a newly constructed 50-bed community nursing home. Initially meant as a replacement for St Conlon's nursing home, the beds were redirected to ease overcrowding at University Hospital Limerick (UHL). While the HSE stated this aimed to boost bed capacity for 12 months, managed by a private operator until full staffing, residents and families expressed disappointment, anticipating a swift transition to the new nursing home. [+]
MAY 17, 2024

Sanofi bets on France with €1bn+ domestic biotech boost

French drug giant Sanofi has laid out plans for over €1 billion in new biotech manufacturing investments on home soil. [+]
MAY 17, 2024

Lauterbach’s German hospital reform set to launch

Germany’s cabinet government has approved Health Minister Karl Lauterbach’s controversial hospital reform. The draft law will now go to the Bundestag, where it is likely to pass. After several months of political wrangling, the final version is focused on moving hospital financing away from DRG-based fee-per-service payments.  [+]
MAY 17, 2024

Flanders ban on for-profit care hits parliamentary roadblock 

A proposed decree to ban profit-making in Flanders' elderly care sector has been halted in the Flemish Parliament. [+]
MAY 17, 2024

UK dental market is ripe for consolidation with single and dual practice dominance - Infographic

This week's infographic delves into the ownership within the UK dental market, and the key providers, with insights sourced from Christie & Co. [+]
MAY 17, 2024

UK government proposes sick leave reform

British Prime Minister Rishi Sunak last month unveiled plans to tighten rules surrounding sick leave. The government’s initiative aims to address what he has termed the UK's "sick note culture" by proposing a significant shift in responsibilities away from GPs to specialised work and health professionals. [+]
MAY 17, 2024

Examining recent M&A activity in India’s healthcare sector

It seems a week doesn’t go by without an M&A story involving India’s healthcare sector. Given this rapidly evolving landscape, what is the latest lie of the land? [+]
MAY 10, 2024

American Heart of Poland buys Scanmed

Two major Polish hospital groups are set to merge and become the country’s largest private provider. American Heart of Poland, the country’s second largest group by revenue, is acquiring Scanmed, a slightly smaller group. The price of the deal is reportedly around €400m. [+]
MAY 10, 2024

Are retirement villages still the future of elderly care?

Back in 2021 there was a definite sense amongst those involved in Europe’s elderly care sector that investment into retirement villages was set to explode. But in the last couple of years investment into new retirement village sites has stalled. Is this just a temporary blip, or are there more fundamental barriers preventing development in the sector?  [+]
MAY 10, 2024

Quadria Capital boosts private sector's hold on India's dialysis market through NephroPlus investment

On May 6, 2024, NephroPlus, India's leading network of dialysis clinics, secured an investment of INR 850 Crores from Quadria Capital, the largest healthcare-focused private equity firm in Asia. [+]
MAY 10, 2024

Catalonia’s “Bioregion” booms – new AstraZeneca hub sparks 366% jump in FDI

Catalonia’s self-dubbed ‘BioRegion’ has received a significant boost in Foreign Direct Investment (FDI) following AstraZeneca’s establishment of an R&D hub in Barcelona, with 2023 FDI increasing 366% on the previous year, from €220 million to €1,025 million. [+]
MAY 10, 2024

Interview: Dr Tyson Welzel, Group Chief Innovation Officer, Mediclinic

With HBI 2024 now just weeks away, we spoke with Dr Tyson Welzel, Group Chief Innovation Officer at Mediclinic, about the company's focus on achieving carbon neutrality as part of its focus on innovation. [+]
MAY 10, 2024

Could New Zealand’s retirement village business model work elsewhere?

Paul Morgan, CEO of Wallacea Living, a luxury UK retirement village provider, recently went on a trip to New Zealand to see what could be learnt from its retirement village sector. He shared some of his findings with us. [+]
MAY 9, 2024

CRB Health Tech raises €20m, eyes €50m, for new digital health fund

CRB Health Tech (previously CRB Inverbio), a Madrid-based venture capital management firm specialising in health technologies, has successfully raised €20 million for its latest fund, CRB Digital Health III. [+]
MAY 9, 2024

emeis offloads 11 Dutch nursing homes to Bouwinvest

Multinational French care home giant emeis has finalised a deal to sell eleven nursing homes in the Netherlands to Bouwinvest. The transaction was valued at €97 million. [+]
MAY 7, 2024

Examining closure trends in for-profit care homes in England - Infographic

In this week’s infographic we look at the reported numbers of care home closures (voluntary and involuntary) in the UK from 2011 to 2023, as compiled by the Care Quality Commission (CQC) and reported by The Lancet, a medical journal. [+]
MAY 3, 2024

PAI Partners to acquire Vamed rehab clinics

French PE firm PAI Partners will become the new owner of Fresenius Vamed’s rehab business. Vamed is currently a subsidiary of German health care conglomerate Fresenius, who will continue to hold a minority stake. [+]
MAY 3, 2024

Far East Drug Co. acquires majority stake in Singapore’s Fullerton Health

Fullerton Health Corporation Limited (Fullerton Health), a multinational occupational health care provider in the Asia-Pacific region, confirmed on Tuesday that pharmaceutical company Far East Drug (B.V.I.) Co. Ltd (FED) is acquiring a significant stake in the Singapore-headquartered group. [+]
MAY 3, 2024

Supply struggles to meet demand in India’s rapidly growing mental health sector

India now surpasses China as the world's most populous nation with 1.44 billion people. The substantial population raises challenges across various fronts, notably healthcare, with mental health emerging as a particularly pressing issue.  [+]
MAY 3, 2024

Optum and Walmart fail at telehealth and low-cost care — what does this teach us?

This week saw the news that retail giant Walmart is shutting down its 51 centres and its virtual care offering launched in 2020, and that insurer UnitedHealth’s Optum Virtual Care service was also being shut down after launching in 2021.  [+]
MAY 3, 2024

Interview: George Murgatroyd, Medtronic

George Murgatroyd is General Manager & Vice President at the Digital Technologies division of Medtronic, the world’s largest medtech company. He explains to us how the AI-assisted video platform which Medtronic launched last month can improve the efficiency and effectiveness of the work surgeons do. [+]
MAY 3, 2024

Interview: Matt Williams, Group CEO & Director, Africa Healthcare Network

With HBI 2024 approaching, we spoke with Matt Williams, Group CEO & Director at Africa Healthcare Network (AHN), Sub Saharan Africa’s largest dialysis chain, about the company's pioneering work in underserved parts of the continent. [+]
MAY 2, 2024

Sha Wellness Clinic and IMKAN announce ‘world’s first wellness island’

Alicante-based Sha Wellness Clinic last week announced a collaborative venture with Abu Dhabi's IMKAN to develop ‘Sha Residences Emirates’, a luxury wellness residential complex located on the private island of AlJurf between Abu Dhabi and Dubai. [+]
MAY 2, 2024

UK sees collapse in overseas care worker applications following dependant visa ban

The number of overseas care workers applying to work in the United Kingdom has more than halved since the British government announced changes to immigration rules for those working in the care industry. [+]
MAY 2, 2024

PE firms buy UK care group Hartford Care with plans to double capacity by 2026

UK PE firm Foundation Partners and US PE firm Deer Capital have bought Hartford Care, a UK care home group with 21 homes across the south of England. The new owners plan to double the group’s size by 2026. [+]
APRIL 30, 2024

DomusVi to sell Spanish mental healthcare provider Mentalia Salud

French nursing home operator DomusVi has initiated the sale of its specialised psychiatric treatment division, Mentalia Salud, according to reports from within Spain. The planned divestment follows both planned real estate sales by the group, and those completed as sales and leaseback transactions. [+]
APRIL 26, 2024

Fidelidade announces 2025 IPO, cancels IPO of subsidiary Luz Saúde

Portuguese insurance company Fidelidade has outlined its plans for a 2025 initial public offering (IPO), following a strategic reassessment that includes the cancellation of the planned listing of its hospital subsidiary, Luz Saúde. The move signals a shift in strategy for Fidelidade, which is majority-owned by China’s Fosun International. [+]
APRIL 26, 2024

Clariane vs. emeis: which is weathering the storm better? - Infographic

Shares of France's two listed pan-European nursing home giants, Emeis (formerly Orpea) and Clariane (formerly Korian) have both fallen precipitously since the start of 2022. Two years down the line, which group's finances are in better shape? [+]
APRIL 26, 2024

Dutch primary care chain Co-Med faces financial stress and quality complaints

Co-Med, a Dutch primary care chain, is facing financial difficulty and possibly even bankruptcy. A part of the company that manages its call centre has already been declared bankrupt. The group has also been the subject of complaints regarding quality and (lack of) availability and timeliness of services, and being sued by former employees. [+]
APRIL 26, 2024

Patients demand innovation, and health systems need it

A recent meeting with a private equity investor went down the path of minimally invasive surgery and the incredibly fascinating innovation in implantable medtech.  [+]
APRIL 26, 2024

HoloCare wins €8.9m to improve surgery with holograms 

Norwegian Medtech company HoloCare has been awarded an €8.9m grant to continue developing its cutting-edge AI-assisted technology that can turn a CT scan into a 3D image in a matter of minutes. HoloCare’s CEO, Alison Sundset, explains to us how this technology has the potential to improve surgery. [+]
APRIL 26, 2024

New regulations to help turn tide on health care cyberattacks

New regulatory frameworks aimed at improving cybersecurity are being introduced in both Europe and North America. This could lead to a step change in how the health care sector manages its colossal cybersecurity risks, by forcing medtech manufacturers and health care providers to make the necessary investments to improve the resilience of their tools and IT networks. [+]
APRIL 26, 2024

The impact of changes to financial reporting rules in the Netherlands

Changes to the financial reporting and accounting rules for healthcare businesses in the Netherlands have come into force. But what will they mean in practice? [+]
APRIL 26, 2024

Interview: Katie Tryon, Director of Health Strategy, Vitality

With HBI 2024 fast approaching, we spoke with Katie Tryon, Director of Health Strategy at UK health insurance firm Vitality, about why sustainable healthcare is so important, and key changes and surprises the sector has faced in the last 12 months. [+]
APRIL 26, 2024

Fakeeh Care Group to list in Saudi Arabia

Fakeeh Care Group, Saudi Arabia’s fourth largest private hospital group by revenue, is going to list through an IPO on the country’s Tadawul Stock Exchange. [+]
APRIL 26, 2024

Karl Lauterbach’s GP de-budgeting gathers momentum while his Health Kiosk programme stalls

Germany's healthcare landscape is shifting at a speed unseen in a generation, as the government confronts a series of challenges in modernising a healthcare market known for its strong interest and advocacy groups and its resistance to reform. [+]
APRIL 19, 2024

South Korean government seeks doctor strike compromise following landslide election defeat

Following last week’s bruising parliamentary election defeat, South Korean President Yoon Suk Yeol has extended a compromise to striking junior doctors amidst industrial action that has put South Korea’s healthcare services under unprecedented strain. [+]
APRIL 19, 2024

A new HBI for a new era

Last week I wrote about the inspiration behind the conference title “New models for the new era” and how it applies to our healthcare sector. As well as serving this market, HBI is a media business too. This week I’d like to share some thoughts about our journey and place in the market. Spoiler alert: we are branching out beyond the traditional health care services beat that has been our mainstay. Read on to find out more.  [+]
APRIL 19, 2024

Mubadala and Aster DM plan increased investment into Indian hospital sector

Abu Dhabi sovereign wealth fund Mubadala Investment Company and healthcare conglomerate Aster DM Healthcare have both declared interest in investing significant amounts in India's hospital sector. [+]
APRIL 19, 2024

emeis (Orpea) emphasises non-financial metric improvement in 2023 results

Pan-European French nursing home group emeis (formerly Orpea) has emphasised non-financial metrics such as reduced accident rates and increased satisfaction rates in its 2023 results. The company also reported 11% revenue growth for the year, although EBITDA decreased. [+]
APRIL 19, 2024

Indian government defends its health spending record as the country goes to the polls

The voting began in the world’s largest democracy today with 970 million eligible voters. Health ranks among the top three voter priorities in this general election. [+]
APRIL 19, 2024

How digitalisation can add value 

Hype over ‘telehealth’ is now largely a thing of the past. But there are ways that digitalisation can radically improve health care provision, and save significant amounts of time for both clinicians and patients. And many of the largest gains don’t require state-of-the-art software or advanced AI algorithms.  [+]
APRIL 19, 2024

New UK healthcare business data protection guidance published

The UK’s data protection regulator, the Information Commissioner’s Office, has published new guidance to provide regulatory certainty on how health and social care organisations keep people properly informed about the use of their personal information. [+]
APRIL 19, 2024

UK ophtha market heating up, whilst Germany’s remains cool

The UK’s for-profit ophthalmology sector is heating up, with multiple groups likely to come up for sale this year. This is being driven by the long term increase in the amount of cataract surgeries the NHS is outsourcing. Meanwhile deal activity in Germany’s sector is still on pause, due to a decrease in cataract surgery post Covid. [+]
APRIL 19, 2024

Spire apologises for NHS patient death

Spire, the UK’s largest for-profit hospital group by revenue, has apologised for the death of an NHS-funded patient that the company failed to transfer quickly enough to an NHS facility for intensive care. [+]
APRIL 12, 2024

Top 5 European ophthalmology players - Infographic

This infographic showcases Europe's top 5 ophthalmology players by revenue in the reporting period 2018–2022: Veonet Group, Sanoptis, Artemis Augenkliniken, Clinica Baviera, and Optegra. [+]
APRIL 12, 2024

Log My Care secures £3 million funding from Mercia Ventures

Log My Care, a digital platform care management platform, has secured £3 million in funding from Mercia Ventures. This new investment boosts the company's total funding to over £7 million, and is not Mercia Ventures’ first investment in the business. [+]
APRIL 12, 2024

Neuroscience innovator Neurovalens secures FDA approval and a £2.1m funding boost

In a significant development for the Northern Irish health tech industry, Belfast-based Neurovalens has obtained medical device clearance from the US Food & Drug Administration (FDA) for their Modius Stress device aimed at treating anxiety. [+]
APRIL 12, 2024

New models for the new era

This week I‘ve been thinking about 'New models for the new era', the conference title for HBI 2024, which will take place in London June 10-12. [+]
APRIL 12, 2024

Manipal Hospitals to become India’s largest hospital group

India’s second largest hospital group by bed capacity, Manipal Hospitals, is set to become the country’s largest once it finalises its acquisition of Medica Synergie Private, a private hospital in Kolkata. [+]
APRIL 12, 2024

Luz Saude IPO to finally go ahead

Luz Saude, Portugal’s second largest private hospital group by revenue, will become a listed company once again, six years after it was taken private by its insurer-owner, Fidelidade. The company has confirmed an IPO on Portugal’s Euronext Lisbon exchange will go ahead, almost a year after reports of plans to relist initially began circulating. [+]
APRIL 12, 2024

Clariane exploring French homecare business disposal options

Pan-European listed French nursing home group Clariane is exploring disposal options for its Hospitalisation à Domicile and Services de Soins Infirmiers à Domicile (HAD/SSIAD) business in France with the members of the Comité Social et Economique Central d'Entreprise (CSEC). [+]
APRIL 11, 2024

What can be learnt from Korea’s doctor strike?

Junior doctors in South Korea are striking in protest of the government’s decision to increase the country’s cap on medical school places by 65%, claiming it would negatively impact the quality of medical education and not fix the country’s health care shortages. With workforce being a major issue in health systems across the world — and one that is set to become increasingly pressing as populations age — this could be a portent of what is to come elsewhere. [+]
APRIL 11, 2024

Interview: Sham Sokka, Chief Operating and Technology Officer, DeepHealth

Sham Sokka is Chief Operations and Technology Officer for DeepHealth, a digital technology subsidiary of RadNet, which is the largest provider of outpatient imaging services in the US, with almost 370 centres across the country.  [+]
APRIL 10, 2024

Guest Post: The new era in holistic health care delivery

In this Guest Post, Charles Dalton and Raju Narayan advocate for a shift towards a patient-centric, holistic healthcare delivery system to enhance efficiency and accessibility in emerging economies. [+]
APRIL 5, 2024

General Atlantic acquires majority stake in Indian-based Ujala Cygnus

US-based PE firm General Atlantic has acquired a majority stake in Indian hospital group, Ujala Cygnus. [+]
APRIL 5, 2024

OMRON Healthcare completes acquisition of remote healthcare platform Luscii

OMRON Healthcare Co. Ltd, a global health monitoring and therapy medical equipment supplier, has finalised its acquisition of Luscii Healthtech B.V, a Dutch company specialising in digital health and remote patient monitoring platforms. [+]
APRIL 5, 2024

Nordic Capital decides to hold onto Alloheim

PE firm Nordic Capital has decided not to sell German nursing home group Alloheim, and instead to refinance it. Nordic Capital says it wants to hold onto the group “for the foreseeable future”. [+]
APRIL 5, 2024

French private hospitals to strike over measly 0.3% tariff rise

Private hospitals and clinics in France will go on strike from June 3rd, in protest of tariffs only rising 0.3% for 2024 - well below inflation. Public hospital tariffs are projected to rise by 4.3% for the year. [+]
APRIL 5, 2024

Recare secures €3.2m for expansion of digital discharge management in Germany amidst healthcare digitisation push

Recare, a Berlin-based health tech company, has successfully raised €3.2 million in fresh capital to expand its digital discharge management marketplace in Germany. [+]
APRIL 5, 2024

Kingdom Healthcare and Kingdom Medical merge in Northern Ireland

Specialist healthcare professional recruiter Kingdom Medical has been merged with homecare solutions provider Kingdom Healthcare. [+]
APRIL 5, 2024

Aster DM GCC sale completed

The sale of the GCC division of healthcare conglomerate Aster DM has been completed for approximately $1bn. [+]
APRIL 5, 2024

Terveystalo acquires SRK Group Oy to expand imaging service capabilities

Terveystalo (TTALO, Nasdaq Nordic), Finland's second largest private healthcare company, has announced its acquisition of SRK Group Oy, a provider of imaging services in the country. The acquisition, announced on April 3rd, represents a significant step for Terveystalo in its efforts to extend its range of healthcare services. [+]
APRIL 4, 2024

Who are the UK's top 5 dentistry groups? - Infographic

Who are the biggest dentistry groups in the UK? In this infographic we look at the UK's top 5 for-profit dentistry groups, using 2022 and 2023 revenue figures. [+]
MARCH 28, 2024

Interview: Mohit Kumar, Ultrahuman

Ultrahuman is a medtech company that provides cutting-edge health-monitoring tools. It currently has four products: a smart ring, a continuous glucose monitoring wearable, a device that monitors air quality in the home and a blood-testing product.  [+]
MARCH 28, 2024

Guest Post: Making Healthcare Affordable in Emerging Markets

In this Guest Post, Charles Dalton and Raju Narayan from the International Finance Corporation (IFC), shed light on the critical strategies required to ensure sustainable and quality healthcare for all in these regions. [+]
MARCH 28, 2024

UK care home sector reaches strongest position in years

Whilst the care home market across much of continental Europe is still reeling from the triple hangover from Covid, the Orpea scandal and inflation, the UK’s care home sector is currently in the best state it's been in for years.  [+]
MARCH 28, 2024

Orpea rebrands to emeis amid turmoil

French care home operator Orpea has rebranded itself as emeis, in the wake of a tumultuous period marked by allegations of mistreatment in its facilities. The company's decision to change its name comes as it attempts to distance itself from the scandals that have plagued it since 2022, including accusations of abuse within its French care homes. [+]
MARCH 28, 2024

UK dental and pharmacy staff to get new powers

Pharmacy technicians, dental therapists and dental hygienists will get new powers in the UK, following the conclusion of two government consultations. [+]
MARCH 28, 2024

Auna becomes Latin America’s first US-listed healthcare services company

Peruvian hospital group Auna has become Latin America’s first healthcare healthcare services company to list in the US, after its IPO on the New York Stock Exchange last week. [+]
MARCH 28, 2024

Norwegian GP platform Dr.Dropin goes international with London launch

Norwegian private GP platform Dr.Dropin has launched its first clinic outside of Norway, in Fulham, London. [+]
MARCH 28, 2024

Italian doctor émigrés to be offered tax incentive to return home

Italian doctors who have emigrated abroad could be offered a huge tax incentive to return to Italy under a new proposal.  [+]
MARCH 22, 2024

Italy’s pharmacies to offer expanded range of services

A new draft bill has been proposed by the Italian government which will allow pharmacies to offer an expanded range of services including vaccinations, diagnostic tests and the ability to book outpatient visits to the hospital.  [+]
MARCH 22, 2024

NMC Healthcare settles with Dubai Islamic Bank out of court

NMC Healthcare, the UAE’s largest hospital group, has reached an out-of-court settlement with Dubai Islamic Bank, the UAE’s largest Islamic bank, for the last of the claims against it. [+]
MARCH 22, 2024

European Healthcare Property Webinar: Unlocking Opportunities in the Cure Sector

This week we held the second webinar in a two-part HBI webinar series on Europe’s healthcare real estate investment landscape - European Healthcare Property Webinar: Unlocking Opportunities in the Cure Sector. The recording of the webinar is now available to watch for all HBI members. [+]
MARCH 22, 2024

The 20-30% AI productivity boost available to health care providers right now

AI has the potential to boost productivity in health care in myriad ways. The most transformative applications will take time to be implemented, not just because of the nascent stage of the technology itself, but also because of lagging regulation and change-resistant clinicians. But there are applications which providers can implement right now that can provide huge productivity boosts. Oskari Eskola, CEO of BeeHealthy, a Mehilainen (Finland’s largest private health care group) spin-out that helps providers and insurers digitise, talks us through some of these. [+]
MARCH 22, 2024

The best of both worlds for property investors?

Property investors are increasingly attracted to healthcare, in large part because tenants with government-backed income are a safe bet and 25-year leases are the norm. But when it comes to green or brownfield healthcare development it is generally the private sector, not the public sector with the most projects. As demand rises the private sector across Europe is taking up some of the slack with either an increased PMI or out-of-pocket spend or through public-private joint ventures. The combination of these two gusty tailwinds could prove very lucrative for property investors. [+]
MARCH 22, 2024

RAD-x acquired by Swiss Life Asset Managers and Vesper Infrastructure Partners

Investment firms Swiss Life Asset Managers and Vesper Infrastructure Partners have acquired RAD-x, a diagnostic imaging platform operating in Germany and Switzerland. The deal is the latest in a series of major acquisitions by infrastructure funds within the diagnostics and medical imaging segment. [+]
MARCH 21, 2024

Aster DM GCC sale nearly complete

The sale of the GCC division of Dubai-based listed hospital and pharmacy chain Aster DM, for just over $1bn, is nearly complete. [+]
MARCH 21, 2024

Manipal looking to become largest Indian group with acquisition

Manipal Hospitals, India’s second largest hospital group by bed capacity, is in talks to acquire a smaller group in the east of the country. If the deal goes ahead it would make Manipal the largest hospital group in the country by bed capacity, knocking off rival Apollo Hospitals from the top spot. [+]
MARCH 15, 2024

Recent PE exits with long holding periods - Infographic

We've analysed a selection of health care PE exits from the past few years, looking at cases where the company was held for longer than the typical five-year holding period. [+]
MARCH 15, 2024

NephroPlus expands in the Philippines with acquisition

Indian dialysis group NephroPlus has solidified its position in the Philippines with the acquisition of Renal Therapy Solutions, a six-clinic provider. [+]
MARCH 15, 2024

Is the future of care at home?

The centre of gravity of the health and care sector is shifting away from hospitals and nursing homes. Capacity and resource constraints combined with policy pushes for greater access in the community and advances in medtech mean that over the coming decades an increasing amount of care will be delivered in an outpatient setting and at home. But Joseph Musgrave, CEO of Home & Community Care Ireland, Ireland’s trade association for domiciliary care providers, warns us there is a major stumbling block: almost every country lacks a structured career pathway for carers. [+]
MARCH 15, 2024

DaVita to become largest dialysis services provider in Latin America

Kidney dialysis services provider DaVita is going to become the largest dialysis services provider in Latin America following agreements with Fresenius Medical Care, a rival multinational group, to expand in Brazil and Colombia and enter Chile and Ecuador for the first time. [+]
MARCH 15, 2024

Interview: Dr Anish Kotecha, Director of Education, Learna

Since online medical education platform Learna was founded in 2010 it has been helping healthcare businesses empower their healthcare professionals with continuous learning in partnership the University of South Wales. Putting his passion for educating into practice for Learna since 2023 is GP and medical education expert Dr Anish Kotecha, Director of Education. [+]
MARCH 15, 2024

To spin or not to spin, that is the question

Success stories in digital transformation projects are likely to lead to a difficult decision for healthcare leaders: do we spin this out and build a new revenue stream and let the wider system benefit? Or do we keep it to ourselves? With the amount of investment and the number of projects underway, this dilemma will become much more common. For start-ups, could this be a worrying development? [+]
MARCH 15, 2024

Affidea acquires two clinics in Switzerland

Pan-European imaging and diagnostics firm Affidea has expanded its operations in Switzerland with the acquisition of two clinics, a radiology centre and a gastroenterology centre. [+]
MARCH 15, 2024

Is the future of care at home?

The centre of gravity of the health and care sector is shifting away from hospitals and nursing homes. Capacity and resource constraints combined with policy pushes for greater access in the community and advances in medtech mean that over the coming decades an increasing amount of care will be delivered in an outpatient setting and at home. But Joseph Musgrave, CEO of Home & Community Care Ireland, Ireland’s trade association for domiciliary care providers, warns us there is a major stumbling block: almost every country lacks a structured career pathway for carers. [+]
MARCH 14, 2024

The rise of entrepreneurship amongst ophthalmologists

Last week Romesh Angunawela told us how doctors across a range of outpatient specialities are becoming increasingly interested in setting up their own businesses. This week we hear a bit more from him about how this trend applies to ophthalmology in particular, and why he co-founded OCL Vision, a three-clinic ophtha group in the UK. [+]
MARCH 14, 2024

European Healthcare Property Webinar: How Can Real Estate Investors Improve Care?

Last week we held the first webinar in a two-part HBI webinar series on Europe's healthcare real estate investment landscape: European Healthcare Property Webinar - How Can Real Estate Investors Improve Care? The recording of the webinar is now available to watch for all HBI members: [+]
MARCH 12, 2024

Clariane exits the UK and makes progress on Dutch and Belgium sale

Pan-European listed French nursing home group Clariane has successfully exited the UK with the sale of its Berkley Care subsidiary. The group has also made progress on the sale of its Belgian and Dutch branches, but has not yet secured a buyer for these. [+]
MARCH 8, 2024

How does revenue per bed compare across Europe's largest care home groups? - Infographic

How does revenue per bed compare across different nursing home providers? In this infographic we compare average revenue per bed for Europe's top for-profit nursing home groups.  [+]
MARCH 8, 2024

Advent, Carlyle and Ardian interested in buying German network Sanecum

US-based PE firms Advent International and Carlyle Group are reportedly interested in bidding for Sanecum, a doctor-led network of outpatient clinics focused on internal medicine in Germany. If it goes ahead the sale could value the group at around €1.5bn. [+]
MARCH 8, 2024

Burjeel Holdings to triple PhysioTherabia network in Saudi Arabia

UAE-based specialty private healthcare services provider Burjeel Holdings is tripling the number of PhysioTherabia centres it operates in Saudi Arabia, as part of the company’s commitment to providing advanced physiotherapy services in the country. [+]
MARCH 8, 2024

Meet the new generation of doctorpreneurs

Doctors are becoming increasingly interested in setting up clinics and running them as proper businesses. We spoke to Romesh Angunawela, who has recently completed an MBA especially for physicians in the US, and is the co-founder of OCL Vision, a three-clinic ophtha group in the UK. He shared his view on this trend and the factors driving it. [+]
MARCH 8, 2024

Affidea acquires MedEuropa radiotherapy centres in Romania

Pan-European diagnostics group Affidea has continued to drive its position in Romania forward by acquiring MedEuropa Romania, a prominent cancer care provider. [+]
MARCH 8, 2024

Interview: Michelle Westfort, Chief University Officer, InStride

InStride helps employers in the healthcare sector (as well as other sectors) to upskill their employees with workforce education programmes, which it provides to them in partnership with high-quality global academic institutions. [+]
MARCH 8, 2024

Property investors’ role in rebuilding trust in the care sector

Reputational risk scares investors. So when a scandal over quality of care of a magnitude greater than any before hit the French nursing home sector in 2022, it sent shockwaves throughout Europe, and scared away many investors. [+]
MARCH 8, 2024

AXA UK acquires HBSUK

Insurance company AXA UK has acquired healthcare services provider HBSUK. It shows how the group is pursuing a wider remit than traditionally expected of insurance companies. [+]
MARCH 1, 2024

What does the new exit environment mean for portfolio companies? 

The economic slowdown of the past couple of years has led to a fundamental shift in the exit environment. In healthcare services, this shift may stick. Worryingly, we are told that private equity has cooled on services, turning its attention to life sciences, pharma services and digital. The sky-high multiples paid over the past few years have scared many away, seeing a longer investment horizon and working harder on value creation to  justify expected valuations.  [+]
MARCH 1, 2024

The new way to consolidate?

Consolidation has been the primary way that PE-backed private health care groups have grown in Europe. A lot of the low hanging fruit has now been picked. But canny investors are adopting new models to open up new consolidation opportunities. [+]
MARCH 1, 2024

Dallah Health eyeing strategic expansion in Saudi Arabia

Listed Saudi hospital group Dallah Health is eyeing strategic expansion in Saudi Arabia as part of its dual aims of becoming the leading healthcare provider in the Kingdom and helping to position the country as a leading medical tourism destination. Its strategic expansion is part of its efforts to support the national Vision 2030. [+]
MARCH 1, 2024

Ribera Salud improves EBITDA margins, contrary to reports

Contrary to reports in the Spanish media suggesting it is less profitable, Spanish healthcare group Ribera Salud’s president Alberto de Rosa tells HBI profits at the group are up. [+]
MARCH 1, 2024

Medicharme enters liquidation

Medicharme, a medium sized French nursing home group owned by UK PE investor G Squared, has entered liquidation. The company became insolvent due to rising costs and low occupancy. The company's 43 facilities will continue to operate as normal for the time being. Takeover offers for the facilities will be examined by the courts on March 21. [+]
MARCH 1, 2024

Ramsay Santé lags behind - but shareholders positive

Australia-based multinational hospital group Ramsay’s half year results have gained a positive response from shareholders. But the work is not yet done on the firm’s flagging European segment. [+]
MARCH 1, 2024

San Donato may be preparing to IPO

Rumours are circulating that San Donato, Italy’s largest for-profit hospital group, is about to IPO. HBI speaks to an Italian market expert to see how likely this is. [+]
MARCH 1, 2024

Atrys Health wins new public contracts in key hispanic markets

Listed diagnostics group Atrys Health has won three new public contracts to provide teleradiology services in Chile and Spain. [+]
MARCH 1, 2024

Orpea issues reverse share split

Embattled French nursing home group Orpea has announced it will pursue a reverse share split on all outstanding company shares. This means current shares which are valued at around €0.01 each will be exchanged for new shares valued at €10 each, at an exchange rate of 1,000-for-one. [+]
FEBRUARY 29, 2024

AMEOS opens new medical campus in Germany

AMEOS Gruppe, Germany’s fourth largest hospital group by revenue, has opened a medical campus in Halberstadt, Saxony-Anhalt, to provide the clinical stage of medical degrees for 40 doctors a years, as part of a degree program which AMEOS has been running for the past three years in partnership with a Croatian university. [+]
FEBRUARY 29, 2024

Practice Plus Group joins Bupa UK network

Practice Plus Group, one the UK's largest private hospital groups, has partnered with multinational health insurer Bupa to give Bupa UK insurance customers access to treatment at its hospitals and surgery centres. [+]
FEBRUARY 29, 2024

A bright future for Finnish providers

Positive results from three Finnish healthcare giants indicate the market is on an exciting trajectory. Janne-Olli Järvenpää, CEO of Mehiläinen, the largest of the three groups, explains the opportunities for both outsourcing and private-pay - and how independent operators can make the most of booming demand in what may be Europe's "most advanced healthcare market in terms of private-pay". [+]
FEBRUARY 23, 2024

AXA buys minority stake in French imaging group Imdev

Capza, the PE branch of French insurer AXA, has bought a minority stake in Imdev, France's second largest radiology network. [+]
FEBRUARY 23, 2024

Who are Europe's biggest nursing home groups? - Infographic

Who are Europe's biggest for-profit nursing home groups in Europe? In this infographic we look at the biggest 16 for-profit nursing home groups in Europe, using both revenue and bed numbers as a measure of size. [+]
FEBRUARY 23, 2024

DomusVi to sell 37 Spanish and Portuguese nursing homes

Pan-European French elderly care group DomusVi is selling 37 care homes in Spain and Portugal to help shore up its finances. The portfolio is reportedly being valued at €350m+. [+]
FEBRUARY 23, 2024

KPJ to focus on Malaysia and exit other markets

Listed Malaysian hospital group KPJ Healthcare is selling non-core assets it holds outside of Malaysia to focus on its Malaysian hospital segment. It has already fully exited Indonesia and plans to fully exit Australia within the next two years, and may also exit Bangladesh. It still has a hospital in Thailand which it has no plans to sell, as it is focused on medical tourism - a key part of the company's strategy going forward. The company reported strong results for 2023, with revenue up 19% and core net profit up 61%. [+]
FEBRUARY 23, 2024

Affidea buys dental clinic in Spain and expands in Italy

Pan-European imaging and diagnostics firm Affidea has bought an advanced dental services clinic in Spain - the first such acquisition by the group - as well as two polyclinics in Italy. HBI understands the dental acquisition is part of the group's long-term strategy to move away from only providing diagnostic imaging to being more of an integrated care platform offering a range of outpatient services. [+]
FEBRUARY 23, 2024

What’s the solution for the looming dementia wave? 

Currently there are no treatments for dementia. Money is flooding into drug discovery in the pursuit of greater understanding and a possible treatment, but in the short to medium term there is little that can be done but provide care and attempt to delay the severity.  [+]
FEBRUARY 23, 2024

Future Fresenius plan "delivered" says CEO

The annual results of healthcare conglomerate Fresenius show CEO Michael Sen’s “Future Fresenius” plan is in full swing. So what next? [+]
FEBRUARY 22, 2024

Fullerton founders charged with bribing insurer

The three founders of Asia-Pacific occupational health care provider Fullerton Healthcare have been charged for paying bribes to the (now former) CEO of insurance and professional services firm Aon Singapore. A regional source tells us this is an example of the risks that come with having a more free-wheeling private health sector. [+]
FEBRUARY 21, 2024

Portugal's Socialist Party wants to force doctors to stay in NHS

Portugal's governing Socialist Party wants to force doctors who train in public universities to stay in the NHS for a minimum period if it wins the upcoming election. [+]
FEBRUARY 20, 2024

German hospital sector turmoil may ultimately benefit for-profits

For-profit hospital groups in Germany are not immune to the cost pressures which are causing many public hospitals to become insolvent. But the CEO of Germany’s fourth largest group, Ameos, tells us the restructuring of Germany’s hospital sector is necessary, and that for-profit groups may ultimately benefit by gaining greater market share. [+]
FEBRUARY 16, 2024

Kry continues to build health network

Livi, the UK and French brand of Sweden-based digital health and primary care provider Kry, has extended its contract with insurer Vitality. The group’s COO explains why partnering is key to digital-first providers. [+]
FEBRUARY 16, 2024

IHH scraps IPO plans for Indian lab

Pan-Asian hospital giant IHH Healthcare is aborting its plans to IPO its India-based indirect subsidiary Agilus Diagnostics - which was proposed in late summer last year - due to “commercial considerations”. [+]
FEBRUARY 16, 2024

New models for the new era 

The conservative health and care services sector is in the process of being disrupted. Traditional models are being called into question. With the pandemic firmly in our rear-view mirror, the experimentation that it forced combined with gigantic leaps in technology and a shift in mindset from patient to consumer is setting the stage for fundamental change.  [+]
FEBRUARY 16, 2024

Orpea raids ramp up

While inspections at facilities belonging to French multinational elderly care operator Orpea have been commonplace within France, news of Europe-wide police raids sweeping Belgium, Luxembourg, Italy, Portugal and Switzerland is now making headlines. [+]
FEBRUARY 16, 2024

EU's AI Act gets the greenlight from the European Commission

Despite opposition, the AI Act seems to be ploughing ahead right on schedule. This week, two key groups of lawmakers - the European Commission's civil liberties (LIBE) and internal market (IMCO) committees - gave their overwhelming support for the new law, which should come into force this summer. [+]
FEBRUARY 16, 2024

Interview: Loick Menvielle, Director of Management in Innovative Health Research Chair, EDHEC

Digital and artificial intelligence is poised to disrupt the healthcare sector, but is Europe prioritising regulation over innovation? HBI speaks to Loick Menvielle, director of management in innovative health research chair at French business school EDHEC, about the future of healthcare in France. [+]
FEBRUARY 16, 2024

The London Clinic opens rapid diagnostics clinic

The London Clinic, a large private hospital in London, is opening a new diagnostics centre just across from its main site in Harley Street, London, to deliver fast diagnostics services to patients wanting to skip NHS queues. [+]
FEBRUARY 15, 2024

Is Europe out of the inflationary woods? - Infographic

The past three years have been the most inflationary in decades for Europe. Price increases have now been brought back into a more normal range, at least for consumers. But tight labour markets and upwards pressure on wages are continuing to push up costs for labour intensive industries such as health care. [+]
FEBRUARY 9, 2024

Real estate matters for health care

This week we published our Healthcare Property Report 2024, an HBI Special Report delving deep into the challenges and opportunities facing real estate investors with a focus on the health care sector. [+]
FEBRUARY 9, 2024

Interviews: CCO and Wellbeing Director at Riverstone

Resting somewhere at the intersection between hospitality and care sits the burgeoning niche of luxury retirement villages. HBI sits down with the wellbeing director and chief commercial officer at London-based independent living facility Riverstone to learn more about this budding market. [+]
FEBRUARY 8, 2024

UK government's £20,000 golden hellos "not enough" to lure dentists back to ailing NHS

The UK government has announced plans to improve dental access, including offering dentists who set up NHS-serving practices in medical deserts £20,000 “golden hellos”. Five expert sources explain what this means – or doesn’t mean – for business. [+]
FEBRUARY 8, 2024

Cigna sells Medicare business for $3.3bn

Last week, US health insurer giant Cigna finally offloaded its Medicare business - which manages government-back health insurance for over 65s - to insurer Health Care Service Corp (HCSC). The $3.3bn cash deal finally putting industry rumours of a megadeal with rival insurer Humana to bed. [+]
FEBRUARY 8, 2024

Voyage Care names new CEO

A new CEO for Voyage Care - the UK’s largest provider of support for people with learning disabilities by revenue - has been named. The successor is current CCO at UK nursing home operator HC-One, Mike McKessar, who will assume the position early this summer. [+]
FEBRUARY 8, 2024

Affidea buys again in Romania, targets further expansion

Pan-European diagnostics group Affidea continues to consolidate Romania's diagnostics market with the acquisition of another three imaging clinics in the north of the country. It now has 53 clinics across Romania. [+]
FEBRUARY 8, 2024

Bupa buys chain of UK musculoskeletal clinics

Bupa, the UK's largest health care group, is buying Blackberry Clinics, a chain of 22 clinics that provide services to patients with musculoskeletal issues. [+]
FEBRUARY 8, 2024

EU states approve AI Act

In December, European policymakers gathered in Brussels to hash out the first framework for AI regulation. Despite threats to derail it, all 27 EU member states have now given it a collective thumbs up - but concerns around overregulation, bureaucracy, and the stifling of innovation remain.  [+]
FEBRUARY 7, 2024

PureHealth continues investment streak

UAE-based healthcare group PureHealth has acquired a 25% stake in Sheik Shakhbout Medical City (SSMC), continuing its streak of recent expansions. [+]
FEBRUARY 7, 2024

How Italian hospitals are targeting private pay despite NHS flu season rush

As San Donato serves an influx of NHS flu patients, Italian groups are looking to capitalise on increases in private pay. An Italian market expert explains how they can have their cake and eat it too. [+]
FEBRUARY 7, 2024

Clariane sells in the Netherlands

French nursing home operator Clariane (formerly Korian) is selling half of its stake in its joint venture with European real estate investor Aedifica. The sale of the real estate for six Dutch homes for €25m follows Clariane’s plans to reduce its debt and also mirrors rival operator Orpea’s attempts to pull back from the country. [+]
FEBRUARY 7, 2024

HBI Special Report: Healthcare Property Report 2024

HBI’s Healthcare Property Report 2024 delves into the dynamics and opportunities in Europe’s increasingly exciting health care real estate investment market. The report includes deep dives into elderly care, acute care and primary care, as well as case studies where we interview specialist health care real estate investors who tell us about their investment strategy and share their understanding of the market. [+]
FEBRUARY 5, 2024

Indian medical school reforms could shrink candidate pool

The National Medical Commission (NMC) in India is pressing to improve the quality of private and government medical institutions, but a workforce expert tells HBI these changes may backfire. [+]
FEBRUARY 2, 2024

UK pharmacists given green light to prescribe as primary care can't cope

Pharmacists in the UK now have the right to prescribe for common ailments such as sore throats and earaches. In France, Ireland and Portugal pharmacists also have some prescribing rights and similar initiatives may be introduced in other European countries in the near future. Is this a solution to the GP workforce shortage? And will it be a good thing for private hospital and private primary care groups? [+]
FEBRUARY 2, 2024

IVI RMA completes Eugin to bolster North American fertility heavyweight

The sale of fertility group Eugin’s has completed, with international KKR-owned fertility heavyweight IVI RMA taking over the North American side of the asset formerly owned by conglomerate Fresenius to bolster its already impressive fertility empire. [+]
FEBRUARY 2, 2024

Croatian doctors threaten to strike, again

Relations between the healthcare workforce and the Croatian government appear to be souring. Having reached an agreement just nine months ago, the doctors' union is now complaining of ‘unfulfilled promises’, ‘propaganda attempts’ and ‘slave contracts.’ HBI asks, is more strike action likely to return? [+]
FEBRUARY 2, 2024

The case for renovating and expanding the UK's old care homes

Two weeks ago we wrote about the dire state of most of the real estate in the UK's elderly care sector, and laid out the case for investing in new builds. But another - cheaper - option for real estate investors is renovating and expanding existing buildings. [+]
FEBRUARY 2, 2024

HCA UK adopts Versius surgical robotic system in UK first

The rise of the robotic surgeon marches on. In a UK private sector first, hospital group HCA UK is adopting the Versius surgical robotic system. HBI speaks to an expert from UK-based consultancy Candesic to find out more. [+]
FEBRUARY 2, 2024

HR Round Up

January comes to an end, rounding off what has been a busy period in personnel changes. We review some of the senior appointments that kicked off the new year including at UK care home operator Cornerstone, property advisor Christie & Co, and healthcare conglomerate Fresenius. [+]
FEBRUARY 1, 2024

Ribera may still run PPP labs in Denia after return to public control

The Denia Hospital, a public private partnership (PPP) run by Spain-based group Ribera Salud, will return to public operations this week - but it seems this may not mark the end of Ribera’s involvement in it. [+]
FEBRUARY 1, 2024

Orpea opens business school

French nursing home operator Orpea is partnering with one of the top business schools in France - EDHEC - to launch a first-of-its-kind management school for the care sector. It plans to train 1,000 group managers within one year. HBI speaks to a market expert to learn more. [+]
FEBRUARY 1, 2024

Takeaways from IPEM in Cannes

Last week HBI was invited to chair the first ever healthcare summit at its cousin company’s flagship event IPEM in Cannes. The private capital community gathered on the Cote d’Azur to kick-off the year under the much appreciated January sun. As the sector continues to prove a safe harbour for investors despite various macro challenges, interest from private capital continues to gather momentum. Here are a few takeaways from the summit which featured speakers from EQT, Jeito, Keensight, Dementia Discovery Fund, Fremman, Pictet, Weight Partners Capital, TechLife Capital, Palladio Partners and Indefi. [+]
JANUARY 27, 2024

The rise of senior living

Elderly care is no longer what it once was. The time when more senior citizens (now, we understand, considered a pejorative term in some quarters) “retired” to a nursing home to see out their later but still healthy years is no more. Nursing homes increasingly cater only to the elderly ill. How then does one cater for the elderly well? [+]
JANUARY 26, 2024

Vamed and Median could merge to create rehab giant

Two of the largest rehab groups in Germany could be merged in what looks set to be one of 2024's biggest European health care services deals. Dutch PE firm Waterland Private Equity, which has owned Median Kliniken since 2014, is reportedly the front runner in the sale of Fresenius Vamed's rehab facilities. [+]
JANUARY 26, 2024

Bankrupt English councils a worry for care operators

As increasing numbers of local councils in England declare themselves bankrupt, fees are giving care home operators cause for concern. HBI catches up with two market experts to understand why more insolvencies are on the way, and what this could mean for the sector’s future. [+]
JANUARY 26, 2024

Who are Europe's biggest health care real estate investors? - Infographic

Who are the biggest health care real estate investors in Europe? As part of our deep-dive into Europe's health care real estate investment landscape we've put together a list of investors with over €500m health care assets under management. [+]
JANUARY 26, 2024

New entrants could disrupt "tough" fertility market

The cost-of-living crisis is having a huge impact on fertility patients, making the sector ripe for disruption. A fertility expert tells HBI cunning new entrants will be the winners while established PE could well be the losers. [+]
JANUARY 26, 2024

Ardian to buy France's largest pharmacy chain and make it multinational

French PE firm Ardian has entered into exclusive negotiations to buy France's largest pharmacy chain, Aprium Pharmacie, from North American PE firm Sagard. Ardian plans to develop Aprium's advisory and digital offering, and to expand the group outside of France. We speak to Ardian's head of growth to find out more. [+]
JANUARY 26, 2024

UK Home Office plans threaten overseas recruitment

The UK’s care sector has become heavily dependent on foreign nations for its healthcare workforce. With new proposals from the Home Office restricting whether families can accompany some workers coming to the UK, HBI speaks to two operators to hear what impact the plans could have. [+]
JANUARY 25, 2024

Interview: Alberto de Rosa, President of Ribera Salud

Have public-private partnerships had their day? Who better to answer this than Alberto de Rosa, president of Spanish hospital group Ribera Salud which was forced to pivot away from PPPs to fight off political opposition, and meet the demands of a shifting Spanish healthcare environment. HBI asks him how the model, in any form, might survive. [+]
JANUARY 25, 2024

Quadria investing $1.5bn into South and SE Asia

Singapore-based private equity firm Quadria Capital is set to inject $1.5bn worth of healthcare investments into South and South East Asian countries over the next two to three years. In line with growing trends, India stands to win big, earmarked to receive roughly 50% of the investment. [+]
JANUARY 25, 2024

Big Greek exits rumoured, despite strong market

Rumours of a big hospital sell-off have started circulating in Greece, with Farallon (formally main creditor of and now main shareholder in Euromedica) and Luxembourg-based PE firm CVC (Hellenic Healthcare Group hospitals) both potentially looking to exit. The moves could trigger a wave of deals. [+]
JANUARY 19, 2024

The dire state of (most) UK care homes

The UK's elderly care sector lags behind other major European countries when it comes to the quality of its real estate. Most of its care homes are old converted houses; purpose-built facilities built this millennium account for only around a quarter of care homes. [+]
JANUARY 19, 2024

Interview: Rebekah Cresswell, CEO, Priory

With a workforce on its knees, it is little surprise that the prospect of ‘care as a career' is becoming an increasingly difficult reality. HBI speaks to UK mental health and social care provider Priory’s CEO Rebekah Cresswell about the government’s latest reforms, and how staff retention can be improved even when times are tough. [+]
JANUARY 19, 2024

Gulf Islamic Investments acquires $160m stake in Abeer Medical Company

Gulf Islamic Investments (GII) has acquired an equity stake worth SR600m ($160m) in Abeer Medical Company, a large affordable healthcare provider in Saudi Arabia. [+]
JANUARY 19, 2024

Ribera president confirms Galician hospital losses

Alberto de Rosa, president of major Spanish healthcare group Ribera Salud, confirms the group’s hospitals in the region of Galicia have posted big losses. He said the tables will turn when a new contract is agreed later this year. [+]
JANUARY 19, 2024

KKR buys majority stake in Vietnamese eye hospital chain

US PE firm KKR has acquired a majority stake in Medical Saigon Group (MSG), one of Vietnam's largest eye hospital chains. [+]
JANUARY 19, 2024

Attendo increases market share in Sweden with 120 Team Olivia units

Pan-Nordic care group Attendo has acquired 120 facilities from Team Olivia, a rival Nordic care group. The acquisition will boost Attendo's already-dominant market share in Sweden’s for-profit disability, personal and family, and home care sectors. We speak to the company’s investor relations director to find out more.  [+]
JANUARY 19, 2024

Europe looks to LATAM and emerging markets for solution to workforce crisis

A shortage of high-quality healthcare workers in Europe is causing countries to recruit from a more global pool. The Danish government is partnering with India and the Philippines, and HBI hears LATAM could be the new hotspot from which foreign workers will be enlisted in future. [+]
JANUARY 19, 2024

Bankruptcies of German care homes "will force reform"

As the threat of mass bankruptcies hits the headlines in Germany, HBI hears that residents are beginning to feel the sting of the country’s dwindling supply of nursing homes, and that 2024 could prove to be the tipping point when public pressure actually triggers political change - but things may get even worse before before they get better. [+]
JANUARY 19, 2024

The falling risk premium for investing in care properties - Infographic

Yields for elderly care properties have risen substantially since 2021 across major European markets, as property valuations have been pushed downwards due to falling demand from investors. But yields for government bonds have risen faster, meaning the risk premium for investing in elderly care real estate is now much lower than it was two years ago. [+]
JANUARY 19, 2024

PureHealth completes on Circle

UAE-based healthcare conglomerate PureHealth has completed its takeover of UK hospital group Circle Health. It acquired the asset in August for $1.2bn. [+]
JANUARY 18, 2024

NHS app: the opportunity for private providers

Nearly two-thirds (62%) of registered NHS app users are over 66. Does this present an opportunity for private providers and their own digital offerings? Three E-vangelists explain why pioneers should be cautious. [+]
JANUARY 12, 2024

Henry Dunant to take over Euromedica, not merge with it

Hemithea (formerly Imithea), the parent company of Greece’s largest private hospital Henry Dunant, is set to take over the secondary care activities of healthcare group Euromedica, as opposed to merging with it, among a flurry of possible Greek hospital sales. [+]
JANUARY 12, 2024

Are the regions right to oppose healthcare reform in Germany?

German market experts are telling HBI that regional governments are gumming up any chance of meaningful hospital reforms. Controversial health minister Karl Lauterbach has been locked in long discussions with them, with regional governments wanting to retain hospital planning rights and fearing election-losing hospital closures being imposed on them if they don’t. [+]
JANUARY 12, 2024

German prospects in 2024: Twice the bankruptcies, half the investment

Between stark drops in investment, the prospect of mass nursing home bankruptcies, and the German Hospital Association warning insolvencies could double in 2024, Germany’s healthcare market is becoming the sick man of Europe. HBI asks a cohort of market experts how the patient is doing, and whether there is a cure. [+]
JANUARY 12, 2024

Goldman Sachs raises $650m for life sciences

Global investment banking firm Goldman Sachs has closed one of the largest first-time private life sciences growth funds. Its West Street Life Sciences I raised "$650 million in equity commitments from a global, diverse group of institutional, strategic and high net worth investors and meaningful commitment from Goldman Sachs employees" according to the bank. [+]
JANUARY 12, 2024

Medica CEO being replaced as he departs for GHO Capital

A new year brings a new wave of senior appointments. After four years of service at international teleradiology specialist Medica, CEO Stuart Quin is leaving to join London-based healthcare investment advisor GHO Capital as a new partner. Former Voyage Care CEO Andrew Cannon is lined up as Quin’s replacement, while mydentist executive chairman Tom Riall is Medica’s new chair. [+]
JANUARY 12, 2024

Headspace launches all-in-one mental health app

Digital mental wellbeing and mindfulness company Headspace has launched a new all-in-one mental health app, incorporating both its guided meditation tools and its coaching and therapy service. The app is initially being made available to Headspace’s corporate and insurer partners, but the company plans to make it available to its consumer members “over the coming quarters”. [+]
JANUARY 12, 2024

"Hard to bear" Orpea name to be replaced this year

Orpea will finally change its name this year according to the embattled French care home group’s CEO. [+]
JANUARY 11, 2024

Diaverum enters Greece, and plans expansion

Multinational dialysis giant Diaverum has entered the Greek market with the acquisition of six clinics. HBI hears the group has plans to consolidate more of the market and become the country’s best quality provider. [+]
JANUARY 11, 2024

Is 2024 the year of recovery?

As we kick off the new year, HBI speaks to healthcare market experts across a variety of countries and subsectors, and hears what they think is in store for 2024. An election-heavy year could herald changes – but will any be enough to stave off the challenges of workforce, inflation, and soaring costs? [+]
JANUARY 5, 2024

Four things to look out for in 2024

As we celebrate the new year, here are four predictions for 2024. [+]
JANUARY 5, 2024

Where in Europe are elderly care beds most needed? - Infographic

Looking at OECD data on the number of beds in residential long-term care facilities per 1,000 people aged 65 and over across 27 European countries, there is a very clear pattern: the richer northern and western European countries tend to have a more bed capacity relative to the size of their elderly population than the poorer Southern and Eastern European countries. But this correlation is far from perfect. There looks to be a significant opportunity for new elderly care developments in the European countries which have a much lower capacity than you would expect based on their GDP per capita. [+]
JANUARY 5, 2024

Threestones buys Spanish care homes from DomusVi

Spanish nursing home operator DomusVi has sold five of its Spanish homes to Luxembourg-based fund manager Threestones Capital Management for around €35m through its TSC Eurocare IV fund, marking Threestones largest acquisition in Spain to date. DomusVi will continue to manage the residences. [+]
JANUARY 5, 2024

Strikes and workforce malcontent set the tone for 2024

One week into the new year, and it’s already painfully clear that personnel problems persist. As a tide of industrial action by healthcare workers sweeps across the UK, HBI speaks to two market experts for their predictions about the workforce crisis going into 2024. [+]
JANUARY 5, 2024

Pakistani workers targeted by Saudi hospital groups

Recent reports have suggested that Saudi Arabian healthcare groups are increasingly uninterested in hiring foreign workers due to the policy of Saudization, but HBI hears this is not always the case, with two major hospital groups looking to increase their Pakistani workforces. [+]
JANUARY 5, 2024

ICG buys back Cura

Fresenius-owned Australian hospital provider Cura Day Hospitals is returning to familiar hands. Six years on from selling Cura, London-listed private equity firm Intermediate Capital Group (ICG) is now acquiring the group again, alongside a consortium. [+]
JANUARY 4, 2024

Emerging markets may have an AI advantage

‘Moore’s Law’ suggests that the number of transistors on a microchip doubles about every two years, while the cost of computers halves. It's an old observation, but the idea that computing power tends to increase exponentially over time still resonates. Today the idea is most frequently applied to artificial intelligence, and with rapidly advancing developments in generative AI, 2024 is poised to become one of the most transformative years on record. [+]
DECEMBER 21, 2023

What Spire's 2023 primary care growth says about the market

UK hospital operator Spire has opened its 20th London GP clinic, one of at least five opened this year. Does this bode well for the state of the UK primary care market? [+]
DECEMBER 20, 2023

Gilde Healthcare acquires stake in Swiss Dental Solutions

Capital investor Gilde Healthcare acquires a majority stake in Swiss Dental Solutions (SDS) through its private equity fund. SDS aims to accelerate its growth in both Europe and the US and become a world leader in the emerging market of ceramic dental implants. [+]
DECEMBER 20, 2023

Interview: Kelly Hudson, Chief Strategy Officer, Lilli

The opportunities afforded by advances in technology to assist with caring for the elderly are huge, but much of the focus remains on reactive tools. HBI speaks to Kelly Hudson, chief strategy officer of UK remote technology company Lilli to hear why the focus needs to be more on proactive solutions. [+]
DECEMBER 20, 2023

The protocol used in diagnostic imaging is highly vulnerable to cyberattack

The way images are digitally stored and transmitted in diagnostic imaging is highly vulnerable to cyberattack, because the protocol which the industry uses is very old and doesn’t require data to be encrypted. HBI chats with Christiaan Beek, senior director of threat analytics at cybersecurity firm Rapid7, to find out more. [+]
DECEMBER 20, 2023

EU hospital markets comparison: A tale of squeezed margins and surgical delays

With ballooning energy bills still eating into profits, and workforce woes creating hospital staffing headaches, HBI speaks to experts from across Europe to ask how the big five EU hospital markets are faring as we look forward to 2024. [+]
DECEMBER 19, 2023

The importance of ESG for health care real estate investors

ESG (Environmental, Social and Governance) is a somewhat nebulous concept, encompassing a broad range of feel-good notions. In the health care sphere, it is often emphasised that this involves more than just reducing emissions. Whilst the 'S' part is perhaps the most poorly-defined of the three concepts, saving lives must surely come under it! [+]
DECEMBER 15, 2023

For-profit hospital stock in major European markets - Infographic

In last week's infographic we looked at the for-profit nursing home stock in major European markets. This week we look at the for-profit (as well as not-for-profit and public) hospital stock in the UK, France, Germany, Italy, Spain, Portugal, Poland and Ireland. [+]
DECEMBER 15, 2023

New AI act could stifle EU innovation - but benefit the UK

After 38 hours of deliberation, a long-awaited deal has finally been reached in Brussels. HBI speaks to three market experts to understand what the AI Act - the comprehensive European framework for AI innovation and regulation - could mean for the future of healthcare in Europe. [+]
DECEMBER 15, 2023

Max Healthcare expands footprint in India

Indian hospital group Max Healthcare is expanding its footprint through a 100% stake acquisition in the Starlit Medical Centre for RS 940 crore ($112.8m). The acquisition gives Max full ownership of the 17-storey, 550-bed Sahara Hospital - located in the city of Lucknow - on a slump-sale basis. [+]
DECEMBER 15, 2023

New weight loss drugs to create $100bn+ private health care market

New highly effective weight loss drugs could create a market worth more than $100bn in annual revenue by 2030. Whilst the majority of this value will be captured by the pharma industry, HBI hears there will be a significant role for specialised clinical providers who can deliver these medicines alongside behavioural and lifestyle changes.  [+]
DECEMBER 15, 2023

Cigna and Humana deal off

Contrary to speculation that a deal would be announced by Christmas, two of the largest health insurers in the US - Cigna and Humana - will not be merging to form a $140bn giant insurer. After reportedly failing to agree on a price, Cigna is instead reportedly planning to buy back $10bn worth of shares. [+]
DECEMBER 15, 2023

Fresenius rehab clinics for sale

Healthcare conglomerate Fresenius has reportedly hired multinational investment bank UBS to manage the sale of its rehabilitation clinics, as it continues to shed non-core business. [+]
DECEMBER 14, 2023

Interview: Paul Landau, founder and CEO of cancer patient monitoring platform Careology

With a UK private sector growing in both patient monitoring and cancer care, there is a real opportunity for providers. But what happens if you combine the two? HBI speaks to Paul Landau, founder and CEO of Careology, to find out more. [+]
DECEMBER 14, 2023

Operose set to sell

Primary care group Operose is being sold to HCRG Care Group, a UK healthcare provider. It is the last of the three major Europe-based groups to be sold off by US insurance company Centene. [+]
DECEMBER 14, 2023

Interview: Misbah Uddin, how to take advantage of Saudi's PPP push

A 200-strong pipeline of public-private partnership projects is a mouth-watering prospect, especially in a Saudi market undergoing an unprecedented healthcare revolution. How can investors make the most of this? Misbah Uddin, managing director at Ankura Consulting Group, tells all. [+]
DECEMBER 14, 2023

Orpea's Refoundation Plan - one year on

One year ago Laurent Guillot, the new CEO of French nursing home operator Orpea, presented ‘ORPEA CHANGE! WITH YOU AND FOR YOU’ to shareholders. After a turbulent time, HBI speaks to two market experts asking - is the recovery plan on track? [+]
DECEMBER 8, 2023

For-profit care home stock in Europe's four biggest care home markets - Infographic

Care homes comprise the majority of investment volumes within health care real estate in Europe. There are tens of thousands of care homes across Europe, but it is typically only those in the for-profit sector that are available to be acquired by real estate investors. In this infographic we look at the care home stock in Europe's four major markets for health care real estate investment - Germany, France, Spain and the UK - and provide estimates of how much are operated by for-profits. [+]
DECEMBER 8, 2023

Two French imaging groups invested in by PE

Two medium-sized French imaging operators, X-Ray Phocea and Cardinet, have been invested in by private equity firms, in what could be a signal that the long-awaited consolidation of France's imaging sector is about to take off. [+]
DECEMBER 8, 2023

The risks and challenges of regulating AI

A crescendo - in equal measure hype, hope and concern - about the use of artificial intelligence in a range of situations including healthcare is reaching unprecedented levels. [+]
DECEMBER 8, 2023

UK tightens foreign recruitment visas

This week, the UK’s Home Secretary James Cleverly announced government plans to tighten health and care worker visas. HBI speaks to a global workforce expert to understand what this attempt to prioritise ‘British talent first’ will mean for operators already facing a workforce crisis. [+]
DECEMBER 8, 2023

What's next for Aster DM?

A GCC expert tells HBI the next step for Aster DM’s GCC division is to expand in Saudi Arabia – but not how you might expect! [+]
DECEMBER 8, 2023

Fresenius bans bonuses and ditches dividend for energy payout

Healthcare conglomerate Fresenius has suspended dividends and bonuses for the management board as a result of legislation which gives it €300m in energy price relief. The conglomerate has stated it will “examine” legal options as it believes the law is “unconstitutional”. HBI speaks to two expert sources to find out more. [+]
DECEMBER 8, 2023

Affidea solidifies presence in Spain and Romania

Pan-European imaging and diagnostic firm Affidea is expanding in Spain and Romania. Its acquisitions of Clinica Atenea in Valencia and Odelga Imagistics clinic in Bucharest bring the number of Affidea’s centers in Europe to 340, cementing its influence in the region. [+]
DECEMBER 8, 2023

IHH considers entry into Vietnamese and Indonesian hospital markets

The new CEO of listed pan-Asian hospital giant IHH says it is looking to move into new markets like Indonesia and Vietnam. Meanwhile, it is also planning to expand its offering in India and Turkey, and turnaround its underperforming China assets. [+]
DECEMBER 8, 2023

NHS queues creating cancer care opportunities in UK - but not yet in Italy

The UK is seeing a boost in private cancer care provision driven by the state of the UK NHS, expanding offerings and a wider availability of convenient drugs – but a radiotherapy source tells HBI not all NHS markets are so lucky. [+]
DECEMBER 7, 2023

Aster DM sells majority stake in Gulf business for $1bn

Dubai-based listed hospital and pharmacy chain Aster DM is selling a majority 65% stake in its Gulf business for a shade over $1bn to a consortium led by PE investor Fajr Capital. HBI investigates the thinking behind the deal, what this means for the group's expansion plans, and looks at the future of the GCC market generally with the help of expert commentary.  [+]
DECEMBER 1, 2023

Propco deal activity has been as muted as opco in 2023

We’ve written a lot about the slowdown in M&A activity over the past year or two. But rising interest rates haven’t only adversely impacted opco acquisitions. They’ve had a similarly negative impact on propco investment. [+]
DECEMBER 1, 2023

Fertility: Cost of living crisis makes finding patients harder and TFP sale struggles

With a recent survey announcing 49% of fertility patients questioned are suspending their treatments, three fertility experts tell HBI it’s becoming increasingly difficult to attract patients. Meanwhile, fertility group TFP looks no closer to sale. [+]
DECEMBER 1, 2023

VIDEO INTERVIEW: Walter Shekman, CEO, Dobrobut

HBI’s Lee Murray recently caught up with Walter Shekman, CEO of Ukrainian private hospital and clinic group Dobrobut. In this video, they explore Ukraine’s ~$16.4bn healthcare recovery need - and what this means for private providers in the country. [+]
DECEMBER 1, 2023

Cigna and Humana "in talks to merge"

Two of the US’s largest health insurers - Cigna and Humana - are reportedly in talks to merge. A stock-and-cash megadeal could be announced by the end of the year, but any deal will likely attract the interest of the regulator. [+]
DECEMBER 1, 2023

Fremman Capital buys Spanish imaging group HT Medica

HT Medica, Spain's third largest private imaging provider by revenue, is being bought by pan-European PE firm Fremman Capital, reportedly for around €100m. [+]
DECEMBER 1, 2023

Fresenius Medical Care deconsolidation completed

The deconsolidation of multinational dialysis giant Fresenius Medical Care (FMC) from German health care conglomerate Fresenius Group has been completed. This means FMC is now a regular limited liability stock corporation; Fresenius Group still holds the largest minority stake (of 32.2%) in it but no longer has control over, nor unlimited liability in it. [+]
NOVEMBER 30, 2023

Medicharme tells HBI it is not on the brink of bankruptcy

French nursing home operators have been under scrutiny since Orpea ran into well publicised difficulties two years ago, and the current economic climate has added to their woes. Facing persistent rumours it may be facing financial difficulties, elderly care group Medicharme tells HBI it is not on the brink of bankruptcy. [+]
NOVEMBER 30, 2023

The sorry state of EMRs

Many operators have bemoaned the state of electronic medical records (EMRs). If only the data was more readable and transferable, then we would have a data revolution, they say. But there’s more to this complex landscape than first meets the eye. [+]
NOVEMBER 24, 2023

The tricky Belgian nursing home market: Why Orpea is staying, and Clariane likely to leave

Last week French nursing home group Clariane (formerly Korian) announced the sale of assets totaling €1bn, with its Belgian assets tipped to be top of that list. Within days, the Belgian CEO of rival operator Orpea revealed that - contrary to some expert predictions - Orpea will remain in the region. What does this mean for the market? [+]
NOVEMBER 24, 2023

NHS struggling to fund outsourcing needs

HBI hears financial pressure on the UK NHS is making it increasingly difficult to outsource to the private sector – but with waiting lists worse than expected, there are still opportunities for for-profit operators. Who is most likely to take advantage? [+]
NOVEMBER 24, 2023

Interview: Ty Greenhalgh, Healthcare Industry Principal at Medigate by Claroty

Hospitals have thousands of electronic devices - devices which increasingly are all connected to one another on one big network. The number of devices is so vast that most hospitals have very limited knowledge about what all of them are and what they are all doing at any given time. Ty Greenhalgh, healthcare industry principal for Cybersecurity firm Claroty’s Medigate platform for health care operators, explains to HBI why this is such a big problem, from both a cost management and a cybersecurity perspective, and how technology can help. [+]
NOVEMBER 24, 2023

The state of Spain's NHS driving patients to go private - Infographic

Spain's Ministry of Health has released its annual NHS report. HBI looks at three key indicators which show where demand for for-profit healthcare is coming from. [+]
NOVEMBER 24, 2023

PureHealth set to IPO

UAE-based healthcare provider PureHealth looks set to IPO in the coming months, with multiple sources suggesting it will list on the Abu Dhabi Securities Exchange. [+]
NOVEMBER 24, 2023

Billionaire activist investor takes stake in Synlab as Cinven's offer period ends

Billionaire activist investor Paul Singer has acquired a minority stake in pan-European diagnostic labs group Synlab, just before the deadline for shareholders to decide whether they want to sell to PE firm Cinven, which is trying to take the group private. Singer appears to agree with Synlab's board that Cinven's €10-per-share offer doesn't reflect the true long-term value of the company. [+]
NOVEMBER 24, 2023

Dutch regulators clamping down on M&A

The Dutch competition authority is looking to expand its influence over the healthcare sector, having already attempted to block some smaller M&A deals. HBI speaks to Rune Aresvik, founder of Dutch consultancy firm Vardetun, to understand what tighter regulations could mean for operators in the region. [+]
NOVEMBER 23, 2023

Interview: Jim Easton, CEO Practice Plus Group

Jim Easton is the CEO of Practice Plus Group, one of the UK’s major hospital operators. In June, HBI reported the group planned to offer a middle-market self-pay option – delivering elective surgeries like knee and hip replacements at around 75% of the usual price. Has the market's changing attitude to PMI shifted its focus? [+]
NOVEMBER 23, 2023

VIDEO INTERVIEW: Richard Banks, chief strategy officer and European managing director, Virtus Health

Watch this exclusive interview with Richard Banks, chief strategy officer and European managing director of global fertility company Virtus Health, as he shares valuable insights into the evolving market landscape. [+]
NOVEMBER 20, 2023

German hospital market facing an uncertain future

The future of the German hospital market still hangs in the balance. As winter approaches and energy prices remain high, politicians still cannot agree on what to do about Federal Health Minister Karl Lauterbach’s proposed reforms - but whatever the outcome there are opportunities as well as challenges ahead. [+]
NOVEMBER 17, 2023

The declining profitability of UK care homes - Infographic

Profitability in the UK's care home sector has been declining pretty consistently over the past 15 years. This trend has continued over the past four years - although not as dramatically as you might expect given cost increases - according to data collected by real estate consultancy Knight Frank. [+]
NOVEMBER 17, 2023

Reasons to be cheerful

Given the turmoil of recent years – the pandemic, soaring inflation, soaring energy costs, supply chain issues, a work force crisis, and war – it is good to bring you some good news for a change. There is a real feeling among industry leaders that the tide is set to turn. [+]
NOVEMBER 17, 2023

EDG sale predicted for Q1 2024

Multiple sources tell HBI that Nordic Capital-owned multinational European Dental Group (EDG) will be back on the market in Q1 ’24. HBI also hears Mehilainen could be back in the shop window soon too. [+]
NOVEMBER 17, 2023

Jefferies: M&A climate to improve, but lack of funding the biggest threat

Multinational investment bank and financial services company Jefferies published its 2023 Healthcare Temperature Check report this week, to coincide with its healthcare conference which ran between Tuesday and Thursday this week. [+]
NOVEMBER 17, 2023

Clariane to sell €1bn of assets and possibly exit Belgium and The Netherlands

Pan-European French elderly care giant Clariane (formerly Korian) plans to sell over €1bn worth of assets to help shore up its finances and get its debt-to-equity leverage ratio under 3x by 2025. Its Belgian and Dutch nursing homes are top of the list of potential assets to sell. A real estate investor with close connections to the company tells us this will involve the sale of the opco as well as the propco, but a Clariane spokesperson declined to confirm this for us. [+]
NOVEMBER 17, 2023

Saudi focus on "value health" will change the way for-profits are paid

Value health is a key proposition in the Saudi 2030 transformation plan. But previous attempts in other markets have met with questionable results. What exactly does value health mean in this burgeoning market - and how is this set to change payor-operator contracts? [+]
NOVEMBER 17, 2023

Dutch dental deals have gone dry

It seems Dutch dentistry consolidation could be over before it had really begun, with a consultant source telling HBI the pool of top targets is drying up. [+]
NOVEMBER 16, 2023

Ramsay Sime Darby sold to Columbia Asia for US$1.3bn

Multinational Asian hospital chain Columbia Asia is buying Ramsay Sime Darby, a rival SE Asian hospital chain, for US$1.3bn. This marks Australian hospital group Ramsay's exit from SE Asia, as well as Malaysian trading and logistics company Sime Darby Berhad's exit from health care. [+]
NOVEMBER 16, 2023

No Cleveland Clinic hospital in Saudi for "near future"

HBI understands that US hospital group Cleveland Clinic is currently unable to open a hospital in Saudi Arabia, due to a deal struck in Abu Dhabi. [+]
NOVEMBER 15, 2023

Why is an essential sector not a more appealing investment?

Which is the least investable sector in health care services at the moment? A few years ago, answers would have differed, but increasingly – and contrary to rising demand – HBI hears it is nursing homes. [+]
NOVEMBER 10, 2023

Eugin sells for €500m

Healthcare conglomerate Fresenius has sold Eugin, its Spain-based fertility business, to KKR-owned fertility group IVI RMA and Spain-based asset management firm GED for €500m including earn-outs. [+]
NOVEMBER 10, 2023

Saudi's biggest recent transactions - Infographic

Vivek Shukla, interim chief commercial officer at SEHA (Abu Dhabi Health Services company), gave a presentation at a webinar HBI recently hosted in which he listed some of the biggest mergers and acquisitions that have taken place in the Saudi Arabian health care market in recent years. [+]
NOVEMBER 10, 2023

Clock ticking on Cinven's offer as Synlab management sits on the fence

Multinational labs group Synlab has left it up to shareholders to make up their own mind about whether to sell their shares to UK PE firm Cinven. Cinven has already secured 79% of the shares, but remaining shareholders have until November 20 to decide whether to accept Cinven's €10-per-share public acquisition offer. [+]
NOVEMBER 10, 2023

Affidea tightens its hold on Romanian imaging

Pan-European diagnostic giant Affidea has increased its dominance in the Romanian imaging market with the acquisition of Biomed Scan, a two-clinic imaging provider in Bucharest. This is the second acquisition it has made in the market in 2023, after its acquisition of a seven-clinic group in Teleorman at the beginning of the year. It now has 48 Romanian clinics, by far the most of any private provider. [+]
NOVEMBER 10, 2023

Ireland’s economic miracle hasn’t spared it from workforce woes

Ireland has seen significant wage inflation as its economy has grown over the past decade, which is attracting talent from overseas. But local imaging operators tell us this isn’t happening quickly enough to fill workforce gaps. There are significant shortages of radiologists and radiographers, as well as most other categories of health care workers. [+]
NOVEMBER 10, 2023

Interview: Nabil Fawaz, Multilateral Investment Guarantee Agency - a subsidiary of The World Bank

HBI speaks to Nabil Fawaz, sector manager for World Bank member MIGA. MIGA promotes cross border investment in developing countries by providing guarantees (political risk insurance and credit enhancement) to investors and lenders in sectors including healthcare.  [+]
NOVEMBER 10, 2023

Orpea’s PR push in the Netherlands

As French nursing home operator Orpea polishes its public image in the Netherlands, HBI catches up with Rune Aresvik, founder of Vardetun consultancy, to hear how the operator is proactively stepping out of the shadows to promote itself, and why its subsidiary Dagelijks Leven is emerging as something of a success story. [+]
NOVEMBER 10, 2023

Interview: Kalle Conneryd-Lungren, chief operating officer, Kry

Sweden-based telehealth firm Kry is growing fast in France. After a series of layoffs and a German exit, HBI catches up with COO Kalle Conneryd-Lungren to talk about the appeal of the French market, profitability in the Nordics, and Kry's plans in general. [+]
NOVEMBER 10, 2023

Four Seasons slow sale continues

The prolonged breakup, sale and demise of what remains of former UK nursing home giant Four Seasons Healthcare continues, with a further nine care homes sold for over £16m in cash. Will anyone claim the rest? [+]
NOVEMBER 9, 2023

Opportunity in Saudi dialysis

In a rapidly opening up Saudi market full of opportunities, how attractive is the dialysis sector? HBI hears the answer is less straightforward than you might expect. [+]
NOVEMBER 9, 2023

Blackstone buys CARE Hospitals and KIMS Health

Global private equity firm Blackstone has entered the Indian hospital market with two big acquisitions. It is acquiring a 75% stake in Hyderbad-based CARE Hospitals. In a separate deal, CARE is buying a majority stake in rival group KIMS Health. The plan is to merge the two groups and create one of India's largest hospital chains.  [+]
NOVEMBER 3, 2023

Workforce woes beckon in a winter of discontent

Winter is coming, and for the health care sector the end of the year could see a weary workforce and soaring costs push some groups to breaking point. HBI speaks to a selection of operators, analysts and advisers to understand how groups are planning for the potentially difficult months ahead. [+]
NOVEMBER 3, 2023

Is Ireland’s diagnostics scheme a good model for queue-busting?

Queues for accessing publicly-funded health care are a feature of almost every country that has an NHS system. In most of these countries they have worsened since Covid. There is one very notable exception to this. [+]
NOVEMBER 3, 2023

How advanced is Saudi's Health Sector Transformation Plan? - Infographic

Vivek Shukla, interim chief commercial officer at SEHA (Abu Dhabi Health Services company), laid out the three key phases in the transformation of Saudi Arabia's health care sector at a webinar HBI hosted entitled ‘Saudi Health Transformation – The Real Opportunity’ last week. [+]
NOVEMBER 3, 2023

UK Health Minister looks for further collaboration with independent sector

The UK's Secretary of State for Health and Social Care has told for-profit operators collaborations between the NHS and private players have paved the way for them to have an increased role going forward - and that patients will be given greater opportunity to be referred to independent sector providers. [+]
NOVEMBER 3, 2023

AXA completes the acquisition of Irish insurer Layla

Global insurance company AXA has completed the acquisition of Irish health insurer Laya Healthcare Limited. [+]
NOVEMBER 3, 2023

Staff "threaten to quit" UK care home giant over pay

UK nursing home operator HC-One faces a potential staffing disaster with reports that nearly 40% of its workforce is threatening an exodus over “poverty pay”. The GMB union demands a real living wage for all staff at the ‘kind care company’, however, HC-One disputes this survey figure. HBI investigates.  [+]
NOVEMBER 3, 2023

Fresenius transformation "on track", as it sells Peruvian asset

German health care conglomerate Fresenius is pushing ahead with its restructuring plans, selling its 70% stake in Peruvian hospital Clínica Ricardo Palma. The company says that focusing on hospital group Helios and drug/nutrition/devices subsidiary Kabi “is paying off” - but is this reflected in its most recent results? [+]
NOVEMBER 3, 2023

Three things we learned at Global Health, Riyadh

HBI attended the Global Health Exhibition in Riyadh, Saudi Arabia, and saw first-hand how the country is changing ahead of its 2030 transformation plan. Here are our three key takeaways from the event. [+]
NOVEMBER 2, 2023

Two bidders left for Ramsay Sime Darby, as CVC buys Filipino hospital chain

South East Asia is continuing to see much more large-scale M&A activity than Europe. The sale of Malaysian and Indonesian hospital group Ramsay Sime Darby is reaching its final stages, with only two bidders reportedly left in the running. Meanwhile, Luxembourg-based PE firm CVC Capital Partners has bought a controlling stake in The Medical City (TMC), the Philippines' most expansive hospital group in terms of outpatient clinic footprint. [+]
NOVEMBER 2, 2023

Bankruptcies, closures, and scandals: the bleak state of European nursing homes

Across Europe, nursing homes are in crisis. Between scandals in France, insolvencies in Germany, the threat of regulation in Spain, and fair fee woes in the UK, HBI hears that the nursing home sector is the least attractive healthcare services sector for investors. Are things really that bad - and is the threat of mass bankruptcies real? [+]
OCTOBER 27, 2023

What do Europe's looming elections mean for for-profit healthcare?

Voters in the Netherlands, Belgium, and the UK will take to the ballot box in the next 12 months or so, and make their voices heard. HBI asks what this might mean for the future of the for-profit healthcare sector in those countries. [+]
OCTOBER 27, 2023

Cerba to enter Saudi Arabia

Multinational French labs group Cerba is to enter the Saudi market, via a joint venture with Nexus Gulf Healthcare (an investment firm in the region) that will be headquartered in Riyadh. [+]
OCTOBER 27, 2023

Lapland council votes to keep Mehilainen outsourcing contract - just

Councillors in Finland’s Lapland region decided by a majority of just one vote on Monday to keep an outsourcing contract with the country's largest for-profit health group, Mehilainen. This comes after a board of regional civil servants decided the contract should be ended, while almost 7,000 locals signed a petition in favour of keeping it. HBI speaks to Jussi Rantanen, a senior advisor to Mehilainen, to find out more. [+]
OCTOBER 27, 2023

UK doctors demand higher fees from insurers for private work

UK doctors have been warned this week they could breach competition law if they take collective action over fees, following concerns about the actions of some private medical insurers (PMIs). [+]
OCTOBER 27, 2023

Voyage Care seeks new CEO and CFO

Voyage Care, the UK’s largest provider of support for people with learning disabilities by revenue, is on the hunt for a new CEO and CFO. Andrew Cannon - who has served as CEO for the last eight years - will remain in position until a successor has been found. [+]
OCTOBER 26, 2023

Key takeaways from 'Saudi Health Transformation - The Real Opportunity'

On Wednesday HBI hosted a webinar on the huge opportunities for health care services providers and investors in Saudi Arabia, as the country privatises large swathes of its health care system as part of its Vision 2030 plan to reform and diversify its economy. What were the key takeaways? [+]
OCTOBER 26, 2023

Spain's access problems bleed into private sector

Spain has a record low number of primary care centres, and is splashing €1bn+ over the next two years to try and stop the rot. HBI hears that more value health initiatives, video triage and AI chatbot usage could be part of the solution. [+]
OCTOBER 26, 2023

Saudi dentists fired for cheaper replacements

Saudi dentistry is seeing significant revenue growth, but HBI hears there are teething problems with significant numbers of experienced clinicians being kicked out in favour of less qualified - and cheaper - new graduates. [+]
OCTOBER 26, 2023

Should new Slovakian government worry investors?

Robert Fico has formed a government in Slovakia. The former prime minister, who leads the centre-left populist party SMER, has formed a coalition with Hlas and the nationalist SNS Party. Given his track record, this could worry investors. Should it? [+]
OCTOBER 20, 2023

Why the EU won’t become the global standard-setter for AI regulation 

Last week HBI attended a breakfast event hosted by international law firm BonelliErede on the impact of AI in health care. Vincenzo Salvatore, an expert on EU law and the former head of legal at the European Medical Association (EMA), gave a presentation in which he discussed the EU’s plans for regulating the use of AI. [+]
OCTOBER 20, 2023

Is a mountain of excessive NHS paperwork costing lives? - Infographic

A survey of over 200 NHS and social care managers in the UK to understand how much time is spent on admin tasks instead of patient care, and the impact this is having, has uncovered surprising results. [+]
OCTOBER 20, 2023

Record breaking backlog offers further opportunities for UK providers

Four months on from the results of the Elective Recovery Taskforce which promised to bust the UK’s record-breaking backlog with the help of the independent sector, the number of patients waiting 65 weeks or more for treatment has risen to nearly 110,000 people. With the situation even worse than predicted, where are the opportunities for private providers - and who is most likely to benefit? [+]
OCTOBER 20, 2023

Election raises hopes for for-profit prospects in Poland

Poland’s elections have ousted the populist Law and Justice (PiS) with only a coalition of opposition parties able to form a majority. With the defeat of such a controversial platform and a leftward lurch what can healthcare operators and investors expect next? HBI speaks to four expert sources to find out more. [+]
OCTOBER 20, 2023

Advent to bankroll Donte Group expansion

Advent International, the PE firm which owns a majority of Spain’s largest dentistry group by revenue Donte Group, is reportedly injecting €70m of financing to boost the group’s growth. [+]
OCTOBER 20, 2023

Interview: Mostafa ElSayed, Automata Technologies

HBI speaks to Mostafa ElSayed, CEO of Automata Technologies, a London-based start-up offering robotic systems to lab operators. Automata’s machines are designed to automate lab processes that were previously difficult to automate, especially in genomics and microbiology. ElSayed tells us that Automata’s machines can increase throughput by up to 5x for certain types of tests and are already being used in the UK, the Netherlands, Belgium, and the US. [+]
OCTOBER 20, 2023

Spire Healthcare acquires Vita Health

The UK’s largest for-profit hospital group by revenue, Spire Healthcare, this week acquired London-based mental health specialist Vita Health Group in a £74m cash deal. HBI hears there are significant opportunities in outpatient areas like mental health for for-profits to fill the gaps left by a struggling UK NHS. [+]
OCTOBER 20, 2023

HC-One acquires luxury care home group

Last week, large UK nursing home operator HC-One announced its acquisition of Ideal Carehomes. An additional 36 homes in England will be added to the provider's growing portfolio with another facility expected to open up in Cheltenham next September. [+]
OCTOBER 19, 2023

A good or a bad year for the Top 100?

This week we publish this year's Top 100, a list of the top 100 health care groups by 2022 revenue in EMEA. Was it a good or a bad year for them? [+]
OCTOBER 13, 2023

Stocks of €1bn+ groups almost all down since start of 2022 - Infographic

This week we are publishing our third edition of the Top 100, a list of the 100 largest health care services groups in EMEA by revenue. Out of the 100 companies, 33 are listed entities whose primary operations are in EMEA health care services, and 16 of those have over €1bn revenue. In this infographic we look at how the share prices of those 16 groups have fared since the start of 2022 (since the Top 100 is based on 2022 revenue figures). [+]
OCTOBER 13, 2023

The Top 100 largest groups in EMEA by revenue

Who are the biggest health care services companies in EMEA? For the third year running we have compiled a list of the Top 100 companies by revenue from HBI Intelligence's database, which includes 5,000+ health care services operators across Europe, the Middle East and emerging markets across Asia and Latin America. The Top 100 shows these companies’ sales relating to health care service activities in EMEA only. [+]
OCTOBER 13, 2023

Prospective sale of Indian division sees Aster DM's shares soar

The Indian division of UAE and Indian hospital group Aster DM Healthcare is reportedly proving popular with buyers - with multiple suitors purportedly valuing the business at around $1.5bn.  [+]
OCTOBER 13, 2023

Belgian crackdown after Orpea's French folly

Outside France, nursing home group Orpea has largely escaped scrutiny in the countries it operates in following its well publicised difficulties, except in its French-speaking neighbour - Belgium. HBI catches up with two operators in the region to hear what the knock-on reputational impact has been like for Belgian businesses. [+]
OCTOBER 13, 2023

German threat to bonuses and dividends over energy price cap

Germany-based healthcare groups are assessing whether government aid on energy prices will prevent them from paying dividends or bonuses. [+]
OCTOBER 13, 2023

PMI revenue up in Spain as inflation cripples insurance scheme

The MUFACE system which insures Spanish civil servants is at serious risk of collapse as it fails to keep pace with inflation, and concerned for-profit operators are starting to close their doors to its insured at a time where revenue is on the rise for PMI. [+]
OCTOBER 13, 2023

Kenyan healthcare continues to attract overseas investor interest

Global private equity firm Alta Semper is injecting millions into MYDAWA, a primary and digital healthcare platform based in Kenya. It aims to solidify the group’s position as a key player in developing Africa’s healthcare industry at a time when Kenya is attracting a lot of interest from overseas investors. [+]
OCTOBER 13, 2023

iCON buys Alliance Medical

The longstanding bidding war for pan-European diagnostic firm Alliance Medical Group is over, with iCON Infrastructure confirmed as the new buyer. The £910m deal ends months of speculation. HBI asks a UK-based consultant what this means for the market. [+]
OCTOBER 13, 2023

Temperature-check on whistleblowing cultures

In the UK, the conviction of neonatal nurse Lucy Letby for the murder and attempted murder of numerous infants has shaken the healthcare industry. Many co-workers have since spoken publicly about how their suspicions, although raised, were dismissed by the very institutions meant to prevent harm.  [+]
OCTOBER 6, 2023

Why KKR is set to buy Eugin - and Fresenius wants to sell

Global investment company KKR is set to buy Eugin, the Spain-based fertility subsidiary owned by Germany-based conglomerate Fresenius, for €500m. We ask why KKR might want it, and whether it makes sense for Fresenius to sell. [+]
OCTOBER 6, 2023

Record fines are putting care homes at risk

With UK for-profit group Cygnet Health Care being fined £1.5m last month following the death of an inpatient at Ealing Hospital in 2019 - the largest ever penalty imposed on a mental health provider - we speak to four European experts to consider how punitive fines from regulators are impacting providers’ bottom line. [+]
OCTOBER 6, 2023

Hungary: high risk, high reward

The Hungarian hospital market is growing at 10% per year nominally, with some of the biggest players outstripping this. With such rapid growth and growing demand the potential reward for investors is great – but with this also comes big risks. [+]
OCTOBER 6, 2023

Italy's nursing crisis causes wage spike as government looks abroad for help

Italy has historically been less affected by the health care workforce crisis gripping much of Europe, but HBI hears post-Covid pressure has created a nursing crisis which has seen wages shoot up, and led prime minister Giorgia Meloni to look abroad. Most recently she has signed an agreement with the Caribbean island of Cuba to fix her growing workforce challenge. This is the latest in a series of deals and rule relaxations designed to help funnel talent into Western Europe. [+]
OCTOBER 6, 2023

Interview: Howard Podolsky, Group CEO, Cambridge Medical

Last week, Amanat Holdings announced the return of Howard Podolsky to Cambridge Medical Rehabilitation Center. HBI caught up with the ‘new’ group CEO to hear about current challenges and opportunities in the Middle East and what is different this time around. [+]
OCTOBER 6, 2023

Key takeaways from the HETT 2023 London Conference

Last week, HBI joined thousands of delegates at the Health Excellence Through Technology (HETT) 2023 conference in London, where exhibiters congregated to explore how digital innovation can be leveraged to address record-level NHS waiting lists - something keynote speaker Vin Diwakar, medical director for transformation dubbed “the greatest crisis since the Second World War.” [+]
OCTOBER 6, 2023

Fico returns in Slovakia - should investors be worried?

Just in time for Halloween, Robert Fico is back. The former Slovakian prime minister who tried to renationalise insurer Dôvera has led his populist centre-left party to win the most seats in Slovakia’s 2023 elections. But a Slovak operator source tells HBI the private sector need not worry as even if Fico forms a government, it is unlikely to be the horror show some fear. [+]
OCTOBER 5, 2023

For-profit oncology being held back by stingy tariffs and licensing in Portugal 

HBI speaks to an oncology operator in Portugal who tells us that whilst there is no risk of public referrals running dry any time soon, the sector is being held back by stingy tariffs for publicly-funded care and a licensing system that favours the public sector. [+]
OCTOBER 5, 2023

Where has for-profit hospital bed capacity grown most since 2010? - Infographic

Where has for-profit hospital bed capacity grown the most in recent years? To answer this we look at OECD data on hospital bed capacity in 26 countries between 2010 and 2021. [+]
OCTOBER 5, 2023

KKR set to buy Eugin for €500m

US-based global investment company KKR looks set to buy Eugin, the Spain-based fertility group owned by Germany-based conglomerate Fresenius, with which it is reportedly in exclusive talks. The deal values Eugin at around €500m. [+]
OCTOBER 2, 2023

Panic rush to do deals ahead of Lauterbach reforms

HBI hears that a glut of M&A deals are being rushed through, with panicking investors and operators competing for buyers before Federal Health Minister Karl Lauterbach's controversial reforms pass - though it remains unclear exactly what those reforms will be. HBI asks whether the panic is merited, just how low have multiples dropped, and who will benefit from this? [+]
SEPTEMBER 29, 2023

Do you need a health care background to be a great health care CEO?

Anyone who’s been paying attention to new appointments in the for-profit healthcare sector will have picked up on an interesting emerging trend: executives being poached from outside industries. It raises an interesting question: do you need to have a background in healthcare to be a healthcare leader? [+]
SEPTEMBER 29, 2023

Cinven goes ahead with Synlab take-private

UK PE group Cinven is pushing ahead with its €10-per-share acquisition of multinational labs group Synlab by launching a public acquisition offer to all shareholders. This comes after several months of slience after Cinven made an initial non-binding offer to take the group private back in March.  [+]
SEPTEMBER 29, 2023

Median expands into third major European market

Waterland-owned Germany and UK rehabilitation and mental health specialist Median has expanded into a third major market with the acquisition of Hestia Alliance in Spain. HBI asks "why Spain?" [+]
SEPTEMBER 29, 2023

Controversial care cuts in the Netherlands on hold following fall of government

Elderly care in the Netherlands has been stuck in a state of limbo for a while now. Political upheaval over the summer and the collapse of a four-party coalition government after 18 months in power has only made the future of care - and the implementation of planned budget cuts - harder to predict. HBI chats to a consultant to find out more. [+]
SEPTEMBER 29, 2023

Healthcare Activos rediscovers its appetite for M&A, targets Germany

Madrid-based REIT Healthcare Activos has rediscovered its appetite for M&A. HBI speaks to the group to find out why now was the right time for it to reenter the M&A arena - and why Germany is the market it plans to target next. [+]
SEPTEMBER 29, 2023

Which sub sectors does PE invest most in? - Infographic

HBI has been analysing its investment database and asking "who is investing in what?" It may not be the most attractive sector financially or reputationally at the moment, but elderly care has the most active PE+* investments in EMEA, with 17% of all active investments. Hospitals is the second most invested-in sub sector, with 14% of all active investments.  [+]
SEPTEMBER 29, 2023

Why it pays to do the basics when building a patient pathway

A German outpatient operator tells HBI how providers are attracting and keeping patients within their businesses throughout the patient pathway, with as many as 50% of complex ophthalmology referrals coming from internal sources. HBI hears it pays to do basic (less profitable) work and even consider retail early in the patient journey so when they really do need help, they already have a provider of choice. [+]
SEPTEMBER 29, 2023

Hungary's health care sector boosted by new state-of-the-art TritonLife lab

TritonLife, Hungary’s largest private hospital group, has significantly boosted the country’s diagnostic testing capacity by opening a new state-of-the-art laboratory in Budapest. The group tells HBI it will eventually have the capacity to process 10 million tests per year, including many which previously had to be sent abroad to be processed. As well as providing an in-house diagnostics service to the group’s own patients, TritonLife has agreed to provide testing services to more than 20 other private health care providers in the country. [+]
SEPTEMBER 29, 2023

How to run a hospital in a warzone

For-profit hospital groups do not always enjoy the best reputation, especially in countries where an NHS system is revered and protected. Profit, not patient focused, is the accusation. But as recent events have shown, they readily put profit aside for the greater good. Just look at Ukrainian hospital group Dobrobut, and what it has been doing on the frontlines. [+]
SEPTEMBER 22, 2023

Alliance Medical sale "imminent"

HBI hears that the longstanding sale of UK diagnostic firm Alliance Medical Group is imminent, with two bidders left in the process and pan-European operator Affidea tipped to be the front-runner. We speak to three market experts to find out more about the deal which is being valued at around $800m-$1bn. [+]
SEPTEMBER 22, 2023

German for profits' growing influence in the healthcare sector - Infographic

Germany's for-profit hospital sector has a growing role in the market's provision. Between 2014 and 2021, the percentage of German hospitals which were owned by the for-profit sector rose 2.3 percentage points to 44.5% and the number of beds controlled by the for-profit sector rose 0.9 percentage points to 24%. [+]
SEPTEMBER 22, 2023

Interview: Jim Kean, CEO, Molecular You

HBI speaks to Jim Kean, CEO of Molecular You, a North American start-up that does tests which analyse patients' proteins and metabolites (small molecules produced during metabolism) to predict what diseases they are at risk of having. Kean tells us that through the use of hundreds of biomarkers and with the help of AI, they are able to achieve a 98% predictive accuracy for certain conditions. [+]
SEPTEMBER 22, 2023

Interview: Michal Tzuchman Katz, CEO and founder of Kahun

The possibilities of AI in medicine are seemingly boundless, with many talking about its labour saving potential. Yet concerns persist, particularly with Chat GPT, and its black box LLM (large language model) system which is designed to mimic conversation but is not always factually accurate nor able to spot signs of acuity. By their nature, black box systems also cannot explain the conclusions they reach. [+]
SEPTEMBER 22, 2023

Optimo acquires Abbeycare

UK Homecare group Optimo Care is acquiring specialist supported-living provider Abbeycare, the deal marking the group’s eighth acquisition in the last year. HBI speaks to Ben Hales, Optimo’s group project director to find out more about its run of M&A in what, for most, has been a quiet year. [+]
SEPTEMBER 22, 2023

Fresenius to sell Curalie after De Meo's discreet departure

Fresenius’ digital health subsidiary Curalie is reportedly up for sale, as the conglomerate’s CEO continues to win over investors, streamline the group, and replace management. Meanwhile HBI hears former Helios CEO Francesco De Meo may be unhappy with the circumstances of his departure - and could seek legal advice. [+]
SEPTEMBER 22, 2023

Four Seasons revives portfolio sale, selling 11 homes

After a dragged-out sales process lasting over a year, UK care home operator Four Seasons Health Care (FSHC) has finally confirmed the conditional sale of some of its remaining homes. Eleven are due to sell for a total of £41.3m in cash. The deal is expected to be completed later this year. [+]
SEPTEMBER 21, 2023

Hospital groups' battle for northern Portugal heats up

The battle for the for-profit hospital market in the north of Portugal is heating up, with CUF buying small group Arrifana de Sousa. [+]
SEPTEMBER 21, 2023

International hospital market holding firm against inflation and workforce crisis

Hospital groups across Europe are looking at the best ways to deal with inflation and the workforce crisis – and new payment models are helping. HBI looks at the half-year results of three listed groups this week to find out what this looks like in the UK, Italy and Switzerland. [+]
SEPTEMBER 15, 2023

Private pay: Rising - but not as fast as you think - Infographic

Data from the Private Healthcare Information Network (PHIN) shows the self-pay bubble in the UK seems to have reached its peak. While private pay admissions are still rising across the country, self-pay is out while private medical insurance (PMI) is in. [+]
SEPTEMBER 15, 2023

The massive potential generative AI offers for health care

The AI Revolution in Medicine GPT-4 and Beyond is an unusual book because it is made up of conversations with Open AI, the research lab part-owned by Microsoft. So the loudest voice in the book is GPT-4. It is a voice which leaves you slack-jawed with amazement. [+]
SEPTEMBER 15, 2023

Post Covid regulations in Spain could lead to care home closures

New regulations designed to protect an aging Spanish population post-Covid could see older, outdated care homes forced to close. HBI speaks to Alberto Fernandez, CEO of Madrid-based REIT Healthcare Activos to find out more about the risks and opportunities this presents. [+]
SEPTEMBER 15, 2023

Helios CEO Francesco De Meo leaves with little fanfare

Fresenius Helios has a new CEO. Germany’s largest hospital group by revenue and subsidiary of Germany-based conglomerate Fresenius announced the news in a press release which ignores outgoing Francesco De Meo’s significant and longstanding contribution to the group. [+]
SEPTEMBER 15, 2023

Interview: Walter Shekman, CEO, Dobrobut

Against the backdrop of the Russia-Ukraine war, HBI speaks to the CEO of the Ukrainian hospital group Dobrobut, Walter Shekman, to understand the day-to-day challenges it is facing, and how the private sector can assist the sector. [+]
SEPTEMBER 15, 2023

Major outside hires at Orpea and AXA Health

This week, two major personnel changes were announced, one at the top of the French nursing home group Orpea and the other at UK health insurer AXA Health. Both names are outside hires, Fabienne Dulac from French telecoms company Orange France, and Heather Smith from financial service provider Allianz respectively. [+]
SEPTEMBER 15, 2023

Interview: Simon Bain, CEO of Omnilndex

How can patients, providers and researchers create records which are usable by patients, aid research, but also protect patient anonymity and protect from cyberattacks? HBI speaks to Simon Bain, CEO at data platform Omnilndex, to find out more. [+]
SEPTEMBER 14, 2023

Donte Group expansion could be prelude to sale

Spain’s largest dentistry provider Donte Group plans to have 420 clinics by the end of the year, possibly indicating its owners are looking to offload the group soon. [+]
SEPTEMBER 14, 2023

Ramsay Sime Darby sale shortlist - Santé might be next

The sale of Malaysia and Indonesia-based hospital group Ramsay Sime Darby marches on, with a shortlist of candidates reportedly jostling for the $1.5bn purchase. Reports suggest French hospital group Ramsay Santé is next. [+]
SEPTEMBER 14, 2023

The near-universal dominance of public and not-for-profit hospitals - Infographic

Inpatient health care is dominated by the public sector in most countries. In the few where this isn't the case, not-for-profits tend to dominate. Out of 32 OECD+ countries, the only exception to this rule is Colombia. Even the US has far more beds in hospitals classed as not-for-profit entities than it does in its for-profit sector. [+]
SEPTEMBER 8, 2023

Aster DM set to sell GCC business

Listed hospital group Aster DM’s share price has rocketed in anticipation as the group’s long-awaited sale in the Gulf looms closer. [+]
SEPTEMBER 8, 2023

People-friendly models will be the winners

Anyone can put up a building. The key is staffing it with the right people, particularly in health care. This means the next decade will see the rise of new people-centric models and the demise of businesses that rely on more traditional employee/employer relationships. [+]
SEPTEMBER 8, 2023

Portugal's hospital market: IPO, reform and intrigue

The growth of PMI makes Portugal an exciting market for hospitals. With the IPO of a major hospital group on the cards, reform looking to change the way public-private partnerships are paid, and political intrigue which rivals Game of Thrones, HBI digs into what’s making the market tick. [+]
SEPTEMBER 8, 2023

San Donato remains in family hands, plans international expansion

In July, prior to its proposed acquisition of American Heart of Poland, there was a big reorganisation at Gruppo San Donato, Italy's largest hospital group. This pours some light on the relationship between Tunisian entrepreneur Kamel Ghribi, whose GKSD vehicle is now intertwined with San Donato, and the Rotelli family. [+]
SEPTEMBER 7, 2023

Interview: Andrew Chadwick-Jones, CEO, Welbeck Health Partners

Few £50m revenue healthcare companies can report growth of 30% a year - at least not in Western Europe. Yet this is exactly what UK-based Welbeck Health Partners (WHP) claims to be achieving. Since 2019, the outpatient day surgery group has built practices with nine teams of specialist doctors covering 14 practice areas, all operating from its plush six storey OneWelbeck facility in London’s West End. HBI speaks to Welbeck's CEO Andrew Chadwick-Jones about the group's plans for regional development in Oxford, followed by a national chain, with international expansion also on the cards. [+]
SEPTEMBER 7, 2023

Commissioners hurt UK care homes

UK nursing homes are facing record fines and the prospect of financial failure, but one market expert argues that providers shouldn’t be shouldering the burden alone. HBI investigates who or what exactly is to blame and what more can be done to alleviate pressures and improve the quality of care. [+]
SEPTEMBER 6, 2023

HC-One closes all Cambridgeshire homes

Large UK nursing home operator HC-One has confirmed the closure of its three remaining Cambridgeshire homes following extended embargoes placed on the operator by the council in the spring. The homes have been deemed “no longer operationally and financially viable”. HBI investigates. [+]
SEPTEMBER 6, 2023

End of Covid windfall sends Sonic's share price to six-month low

Sonic's share price has been hovering around the A$32 mark for the past three weeks, after falling 5% in response to FY23 results released on August 16, which showed declining profits due to Covid testing winding down. This is the lowest the share price has been in the past six months. [+]
SEPTEMBER 6, 2023

Top two Portuguese hospitals grow around 20% in first half

Portuguese hospital operator CUF released its H1 2023 results on Friday, with the group reporting increased activity and improved financials despite its large acquisitions and building projects. [+]
SEPTEMBER 6, 2023

German dentistry buyers nervous of Lauterbach reforms

Despite dentists being eager to sell, new entrants in German dentistry are hesitant, as the spectre of the Lauterbach reforms hangs over the market. [+]
SEPTEMBER 5, 2023

Why won’t British PMs admit to using private healthcare?

When asked whether he used private healthcare, British Prime Minister Rishi Sunak was widely criticised for his evasiveness. His response “I grew up in an NHS family” was deemed defective and unsatisfactory, and after repeated calls this year from politicians and journalists to answer the “not relevant” question, he finally caved in. [+]
SEPTEMBER 1, 2023

Where PE invests in health care across EMEA - Infographic

The UK remains by far the largest recipient of health care PE investments across EMEA, with 25% of all active investments across the 23 most invested-in countries. [+]
SEPTEMBER 1, 2023

Circle Health set to be sold for $1.2bn

PureHealth, an Abu Dhabi group which is effectively state-owned, is set to buy Circle Health, the UK's second largest hospital group by revenue, for $1.2bn. The deal follows PureHealth's acquisition of a minority stake in a major US hospital chain. It comes as revenue from both private pay and NHS outsourcing surges in the UK. [+]
SEPTEMBER 1, 2023

Germany cuts red tape to recruit outside EU

This summer, a new immigration reform was passed to make it easier for workers from non-EU countries to relocate to Germany. An Indian organisation plans to train 2,000 nurses for the German market. HBI speaks to experts to find out who will make the most of the changes and if it’s the best course of action to combat labour shortages. [+]
SEPTEMBER 1, 2023

HC-One pilots flexible working for carers

UK nursing home operator HC-One has launched FlexForce, a flexible working initiative that hopes to ease staffing shortages by improving the sector’s notoriously low retention rates. The scheme is being rolled out to 269 homes, following a successful six month trial this June across the north of England and Scotland.  [+]
SEPTEMBER 1, 2023

Third bolt-on for Phoenix

M&A in the UK's for-profit hospital market is back in full swing. As well as the sale of the UK's largest hospital group, Circle, August saw the acquisition of One Healthcare, a small group which operates two multi-speciality hospitals in Kent and Hertfordshire, by Phoenix Hospital Group, a slightly larger UK operator. [+]
SEPTEMBER 1, 2023

Counting the Cost: The impact of inflation on Italy, Spain and Switzerland

Two weeks ago we published an article looking at how inflation has impacted the health and elderly care markets of the UK, France and Germany. In our second instalment of this series we look at inflation's impact on Italy, Spain and Switzerland. [+]
SEPTEMBER 1, 2023

Babylon saga reaches end

Digital unicorn-turned-mouse Babylon Health has placed two of its UK divisions into administration and reportedly sold its clinical services business to US digital health firm eMed Healthcare. [+]
SEPTEMBER 1, 2023

Orpea sells 22 Dutch homes

This week, French nursing home operator Orpea announced the sale of 22 nursing home facilities in the Netherlands to Amvest Living & Care for €85m. [+]
AUGUST 31, 2023

Hot summer may thaw M&A ice age fast

The M&A ice age may thaw after the summer, with sources saying a flood of deals could be on the horizon. [+]
AUGUST 31, 2023

Interview: Jonathan Broomberg, CEO of Vitality Health International, Global Head of Health Insurance for Discovery

For nearly 20 years Broomberg has been intimately involved in the development of one of the world’s most sticky health care apps. If you have life or health care cover from Vitality or one of its partners you have access to an app which can reward you for exercise, diet, online or physical check ups with a range of rewards, ranging from a weekly free coffee to 50% off gym membership and discounts on flights. And in South Africa, even cheaper healthy food! Just like airlines, Vitality has different levels of status. The difference is you can move from Blue to Platinum with Vitality without spending a penny - just by better diet and exercise. [+]
AUGUST 30, 2023

IHH makes two acquisitions but reports 51% drop in Q2 profit

Listed pan-Asian hospital giant IHH is continuing to grow through bolt-ons, having made two major acquisitions this month. For Q2 2023 the company reported a drop of 51% in net profit compared to Q2 2022, to RM302m ($65m). However, the company said this was mainly because the Q2 2022 figure was unusually high, and is continuing to grow organically as well as through M&A. [+]
AUGUST 30, 2023

Circle Health sells for $1.2bn

Circle Health, the UK's second largest hospital group by revenue, has sold for $1.2bn (€1.1bn) inclusive of debt assumed. The buyer was Pure Health, a healthcare conglomerate based in the UAE, effectively owned by the Abu Dhabi government. [+]
AUGUST 29, 2023

EMEA PE investment volume almost halved in 2022 - Infographic

Using data from HBI's Investment Database, we look at the volume of private equity investments in health care services between 2017 and 2022 across EMEA. [+]
AUGUST 25, 2023

When needs must: politics and healthcare

Back in May, UK politician Wes Streeting made national headlines when he said patient choice was underused. Waiting lists were at a record high so this comment seems so obvious it's barely worth reporting. Of course the private sector should get involved! And yet because this was the UK, it was worth reporting, not least because Mr Streeting is the health spokesman for the centre-left opposition Labour Party. [+]
AUGUST 25, 2023

Ramsay share price plummets as results released

Australia-based multinational hospital group Ramsay Health Care’s disappointing results have seen its share price drop by double digits since close Wednesday. It seems its European segment’s performance did not match that of its other divisions. [+]
AUGUST 25, 2023

San Donato set to buy American Heart of Poland

The largest Italian hospital group is set to buy a majority of American Heart of Poland, a fast-growing Polish hospital group, in its first serious move outside Italy, although it has also outlined expansion plans in the Middle East. This deal is also backed by GKSD Investment Holding, the vehicle of Tunisian entrepreneur, Kamel Ghribi. But what exactly is San Donato buying? [+]
AUGUST 25, 2023

Icon’s UK debut deal with Nuffield

The UK's largest healthcare charity Nuffield Health is partnering with Australian oncology care provider Icon Group to debut its cancer care radiotherapy services in the UK market.  [+]
AUGUST 25, 2023

German doctors demand more money as outpatient sector "faces collapse"

Germany’s National Association of Statutory Health Insurance Physicians (KBV) has put a series of demands to the Ministry of Health. These include sustainable, inflation-linked financing, more training and digitisation and less bureaucracy. The group says that if its demands are not implemented the outpatient sector is at risk of collapsing. [+]
AUGUST 25, 2023

Orpea likely looking to sell in Belgium

Orpea Belgium’s 2022 results are public, and it doesn’t look good. Having suffered a historic loss approaching €400 million last year and with Orpea looking to sell its non core business, we ask a market expert whether and when divestment there looks likely. [+]
AUGUST 25, 2023

Garofalo's Roman return signals boost to Italian hospital sector

Listed Italian hospital group Garofalo Healthcare has re-entered Rome by acquiring rival Aurelia 80. Despite a difficult regulatory environment, HBI hears conditions are set up for the group to thrive. [+]
AUGUST 25, 2023

Scottish care homes "closing at the rate of one a week"

HBI hears care homes in Scotland are closing at a rate of one a week due to underfunding and an inability to find staff, sending alarm bells across the sector. HBI speaks to two market experts to find out more. [+]
AUGUST 24, 2023

UK private sector set to expand nursing degree apprenticeship programmes

The UK private sector is set to take a more active role in training nurses. As the market’s biggest group by revenue expands its nursing apprenticeship programme, HBI speaks to a workforce expert to find out more. [+]
AUGUST 24, 2023

Sell-side valuations jump in Italian dentistry

M&A in Italian dentistry is becoming less profitable for buyers, and sell-side valuations have jumped. [+]
AUGUST 24, 2023

Interview: Andrew Cowley, Impact Healthcare REIT

HBI speaks to Andrew Cowley, investment manager at Impact Healthcare REIT, a listed real estate investor that invests in UK nursing homes. [+]
AUGUST 24, 2023

Vox tries to force Alzira restoration

The far-right Vox party in Spain is trying to force Valencia’s regional government to restore the Alzira model. [+]
AUGUST 18, 2023

Counting the Cost: The impact of inflation on Europe's health care market

What impact has the high inflation of the past 18 months had on growth in Europe’s health care market? Have for-profit operators been able to pass on cost increases to payors? And have patients paying out of pocket, in the face of rising prices and squeezed budgets, cut back at all? In this first instalment to answer these questions, we focus on the for-profit hospital, imaging and nursing home sectors in the UK, France and Germany. [+]
AUGUST 18, 2023

Is domiciliary care really the answer to the nursing home crisis?

The sorry state of affairs in nursing homes across Europe has been making for troubling headlines for many months. Homecare and technology platforms claim to have the answer. But just how far can they really replace proper care in a purpose built environment? [+]
AUGUST 18, 2023

Four Seasons filing for dissolution, takes some homes off the market

Troubled UK care home operator Four Seasons Health Care Limited has filed notice at Companies House to move from administration to dissolution, but neither its administrators nor its PR representatives are willing to comment on this. HBI hears the lengthy sale of most - but not all - of its remaining business is still ongoing. [+]
AUGUST 18, 2023

Finnish outsourcing will drive double digit revenue boost

Finland’s for-profit health and care sector is ecstatic as an invigorated push for public-to-private outsourcing could see a double-digit boost to revenues. [+]
AUGUST 18, 2023

Blackstone likely buyer of KIMS Health

US private equity firm Blackstone has emerged as the likely buyer in the sale process of KIMS Health, an Indian hospital group which also has multiple hospitals and clinics in the Middle East. [+]
AUGUST 18, 2023

Buy or bust for Babylon UK?

Digital health unicorn-turned-mouse Babylon could still have buyers for its UK business, despite its recent difficulties. [+]
AUGUST 18, 2023

Germany can't save small hospitals from insolvency

German health minister Karl Lauterbach’s reforms may not save all small, struggling hospitals from a natural demise after all, despite previous claims to the contrary. [+]
AUGUST 17, 2023

Fresenius shares rocket to one year high

Germany-based healthcare conglomerate Fresenius SE is trading at its highest share price in over a year – and three high-profile investment banks predict things will get even better. [+]
AUGUST 17, 2023

Interview - Ingeborg Oie, CFO and Chief Strategy Officer, Huma 

In this wide ranging interview we discuss the future of remote patient monitoring (RPM) software and government progress in ehealth. Through its RPM platform,  Huma claims to massively cut costs and improve outcomes for patients with chronic conditions. [+]
AUGUST 16, 2023

Italian scoops up UK medico-cosmetic chain

Milan-based Quadrivio Group has bought 100% of UK-based cosmetic-focused The Private Clinic (TPC) from PE group Bluegem, and has added a further four smaller clinics. This is the second transaction from its Silver Economy Fund which targets "healthy longevity".  We look at deal, fund and market size. [+]
AUGUST 11, 2023

Diagnostic imaging capacity by country - and its impact on mortality - Infographic

Diagnostic imaging capacity varies significantly by country, even amongst rich nations. Using OECD data, we look at how the number of CT scanners and MRI scanners per million inhabitants varies between 39 OECD+ countries, and whether this has an impact on avoidable mortality for 27 of those countries. We used 2019 data, to avoid any distortion from Covid. [+]
AUGUST 11, 2023

Emerging market providers make up half the Top 50

Half the top 50 listed health care service groups globally by market cap are now headquartered in emerging markets. What does that tell us about the sector internationally?  We publish the top 50 with detailed analysis in Deals and Insights. [+]
AUGUST 11, 2023

Stalemate for the only solution to doctor shortages

An innovative distance learning platform that trains doctor for just €100,000 has frozen its 2023 intake thanks to the intransigence and obfuscation of the medical profession. Malta-based EDU, accredited by Maastricht University Hospital, has faced four years of delay in accreditation from the Medical Association of Malta despite being able to demonstrate that its doctors outperform those trained in university hospitals. [+]
AUGUST 11, 2023

American Heart of Poland set to sell before election

M&A is quiet in much of Europe but roaring in Poland where a series of groups are set to sell before the general and presidential elections late in the autumn of 2023. [+]
AUGUST 11, 2023

See the Global Top 50 by Market Cap

Who are the Global Top 50 Health Care Service Companies by market cap and what does this tell us about the industry? What is striking is how very few of the top 50 are now EMEA companies - just 13, and of those only four are headquartered in Europe, rather than the Middle East or South Africa.  [+]
AUGUST 11, 2023

CUF given greenlight to acquire occupational health provider

Portugal’s competition authority has given the greenlight to CUF, the country’s largest hospital group, to acquire occupational health provider AtlantiCare. [+]
AUGUST 10, 2023

UK nursing home sector "still viable"

Despite their travails, good nursing home groups in the UK are still making decent money, according to OakNorth, a bank which has some half dozen on its books, and Impact Healthcare REIT, a listed UK-based nursing home real estate investment firm with 14 operators as tenants. The government deserves some of the credit for this, having increased fees above inflation and made it easier for foreign care workers to get visas. [+]
AUGUST 10, 2023

Beleaguered Babylon searches for UK buyer, closes in the US

Under fire digital health company Babylon is shutting down its US operations and looking to sell its UK business. Plans to merge with Swiss digital neurotherapy company MindMaze and be taken private by creditors have collapsed and it is now on the brink of bankruptcy. [+]
AUGUST 10, 2023

Ramsay teams up with Google Cloud to build data hub

UK-based hospital group Ramsay Health Care has announced its partnership with cloud computing service Google Cloud to build a centralised data hub as part of its 2030 digital transformation strategy. Ramsay will use Google Cloud’s AI and machine learning to give nurses, hospitals, and clinicians better access to patient data. [+]
AUGUST 10, 2023

Two Southeast Asian groups up for sale and an Indian group to IPO

In contrast to Europe, South and Southeast Asia are continuing to see significant deal activity. HBI hears that SAFE Fertility Group, one of Thailand’s largest IVF providers, and Qualitas Medical Group, a primary care chain with practices across Malaysia, Singapore and Australia, are up for sale. On top of this, Agilus Diagnostics, one of India’s largest labs groups, is set to IPO. [+]
AUGUST 10, 2023

Interview: Ewan Davis, Quadria Capital

HBI speaks to Ewan Davis, partner at Quadria Capital, a private equity firm headquartered in Singapore. With offices in New Delhi and Ho Chi Minh, it invests in health care companies across South and Southeast Asia.  [+]
AUGUST 6, 2023

UK Government turns to for-profits to bust backlog

The UK independent sector is gearing up for an explosion in backlog-busting public outsourcing. The for-profit hospital, ophthalmology and imaging markets in particular look set for a significant boost according to wide-reaching government plans announced today (January 4).  [+]
AUGUST 4, 2023

Is the term 'brain drain' fair and accurate?

There is a widely held view that brain drain - especially in health care - hits the country of departure hard. And yet there were dissenting voices to this popular view at HBI 2023. [+]
AUGUST 4, 2023

Does Europe need a more harmonised health care system?

HBI speaks with three Germany-based contacts at strategy consultancy L.E.K. about the case for a more harmonised health care policy across the EU.   [+]
AUGUST 4, 2023

Fresenius half-year results get lukewarm reception

Investors had a mixed reaction to Fresenius’ half-year results, which saw the firm perform poorly on a group-level, but the core businesses highlighted by the restructuring plan perform well. The company did not confirm rumours of divestments. [+]
AUGUST 4, 2023

HBI 2023: Opportunities in ophthalmology

Ophthalmology continues to be a big area of interest for investors, with considerable scope for consolidation. An expert panel including the CEO of Europe's largest chain (Veonet) and the CEO of Latin America's largest player (Opty) discussed opportunities in the sector at HBI 2023. [+]
AUGUST 4, 2023

Elective care waiting times predict patient satisfaction - but not private pay growth - Infographic

Waiting times for hip replacements appear to have a significant impact on patient satisfaction, but don't reliably predict growth in private pay.  [+]
AUGUST 4, 2023

Is Macron pushing for ‘stealth nationalisation’ of French nursing homes?

French president Emmanuel Macron is facing accusations of tacitly pushing a policy of ‘stealth nationalism’ in French nursing homes. HBI speaks to market experts to find out more. [+]
AUGUST 4, 2023

Aedifica finds buyers for Orpea's Brussels homes

Belgium-based real estate specialist Aedifica has confirmed the sale of five of its nine Orpea homes, all located in Brussels. The news confirms previous speculation that Belgium was next on the French nursing home’s divestment list from a €1.2bn chunk of its real estate portfolio. [+]
AUGUST 4, 2023

Dutch care staff awarded pay hikes to compete with temp agencies

In a bid to compete with temporary agencies, elderly care staff in the Netherlands as set to receive salary hikes of 5% this October - with another 5% increase again in 2024. HBI speaks to one Dutch sector expert to understand the reasoning behind the move and ask if will it have the desired effect. [+]
AUGUST 3, 2023

Max Healthcare appeals Care Hospital decision

Indian hospital group Max Healthcare is appealing a court decision to reject its claim concerning Care Hospital, another Indian hospital group which it tried to acquire, which it made after the latter accepted an alternative offer from US private equity firm Blackstone. [+]
AUGUST 3, 2023

French dentistry investors could be undermined if loopholes are closed

Investment in French dentistry could be undermined if the government closes legal loopholes, an orthodontics operator tells HBI. [+]
JULY 31, 2023

Orpea sells in Austria and the Netherlands

The ongoing sale of significant parts of French nursing home operator Orpea’s €1.2bn real estate portfolio has expanded to Austria and the Netherlands. As newly released H1 figures show low occupancy rates in France, HBI speaks to three market experts to gauge the current state of affairs for the French giant looking to bounce back from its recent troubled history. [+]
JULY 28, 2023

Does PE ownership improve care?

Do private equity-owned health and care providers perform better - on quality and cost efficiency - than their public, not-for-profit and doctor-owned counterparts? A new review of the scientific evidence suggests perhaps not. [+]
JULY 28, 2023

Are fertility add-ons a bad idea?

In a successful fertility market, add-ons remain a controversial subject. HBI speaks to two experts with differing opinions to find out why. [+]
JULY 28, 2023

Interview: Annabelle Neame, VP for new markets and innovation, HCA UK

HBI catches up with Annabelle Neame, vice president for new markets and innovation at top five UK hospital player HCA UK, and hears how HCA and others are using concierge services to help tourists navigate tricky foreign patient pathways as London is increasingly “more on the map” for health care tourism. [+]
JULY 28, 2023

Private pay grew in 2022 in NHS countries - despite cost of living crisis - Infographic

You might have expected the cost of living crisis to have halted the growth of discretionary private health care spending in 2022. But this wasn't the case in the UK, Portugal or Italy, all of which have NHS systems. By contrast, Germany, which has a Bismarckian system, did see a fall. [+]
JULY 28, 2023

Affidea expands in Portugal by buying two clinics

Pan-European diagnostics group Affidea has bought two outpatient clinics in Portugal, strengthening its market position in the country’s for-profit health care market. [+]
JULY 28, 2023

Spire boosts its imaging capabilities

Spire Healthcare, the UK’s largest for-profit hospital group, has extended its control over the patient journey with a new state-of-the-art MRI scanner worth £500,000. [+]
JULY 27, 2023

HBI 2023: Dentistry - what is the elixir of growth?

What is the best way to grow a dental business – is there an elixir of growth? Do you buy? Do you build? Or should you shuffle the pack and grow organically? HBI's dental partner Straumann, the world's largest implant and esthetic dentistry specialist, invited the leaders of three hugely successful businesses onto the stage at HBI 2023 to share their thoughts and expertise. [+]
JULY 27, 2023

Tracking health care expenditure growth - Infographic

In the following infographics we look at OECD data illustrating how health care expenditure has changed over the past few years across several European countries. These three examples show quite different patterns of expenditure growth. [+]
JULY 21, 2023

Cybersecurity: Four things operators must do

Cybersecurity is important for healthcare. Data and system breaches could take away patient privacy, destroy their trust in much-needed data collection, cost a bucketload of ransom money or even risk patients’ lives. So what can operators do to protect their data? Here are 4 things we’ve learned from talking to experts recently. [+]
JULY 21, 2023

$1.5bn Ramsay Sime Darby for sale (again)

Ramsay Sime Darby, the South East Asian branch of multinational Australian hospital giant Ramsay, is up for sale again. The owners are reportedly seeking a valuation of around $1.5bn, which would make it the largest health care deal in the South East Asian region since 2019. [+]
JULY 21, 2023

Saudi crackdown will shut businesses as new path paved for investors

The Saudi Arabian government is overhauling the regulatory regime governing its health care sector to make way for the huge amounts of private investment needed to deliver ambitious growth targets. As well as simplifying laws governing private ownership and foreign investment, it is increasing auditing checks on providers - and closing hundreds of sites that don’t meet health standards. [+]
JULY 21, 2023

Spanish hospitals embrace organic growth opportunities

The M&A market remain mostly shut and operators are looking to organic growth instead. HBI speaks to a Spanish analyst who explains how this looks in the hospital sector. [+]
JULY 21, 2023

Interview: Dr. Nadine Hachach-Haram, CEO and Founder, Proximie

HBI catches up with Dr. Nadine Hachach-Haram, the CEO and founder of global health technology platform Proximie to hear about how MedTech can improve surgical education and performance, address variations in quality of care, and bring the operating theatre into the 21st century. [+]
JULY 21, 2023

HBI 2023: Healthcare Data and the Emergence of Artificial Intelligence: What’s Next?

The hype around artificial intelligence may have reached a new high, but the tools certainly aren’t recent. At HBI 2023, L.E.K. Consulting’s digital health lead Klaus Boehncke and L.E.K. partner Guillaume Duparc shared their perspectives on concerns around privacy and the adoption of AI, as well as advice on how to leverage data effectively. [+]
JULY 21, 2023

What operators must do to protect against cyberattacks in the wake of HCA

In the aftermath of the cyberattack against US hospital group HCA, HBI talks to two cybersecurity providers to find out how worried operators, investors and patients should be. [+]
JULY 20, 2023

IK Partners completes take-private of Medica

PE firm IK Partners has completed its €271m acquisition of Medica, the UK’s largest teleradiology company, taking it off the stock market. [+]
JULY 20, 2023

HBI 2023 Panel: Building Population Health Management Solutions

University hospitals are helping to create a more holistic, 360° understanding of the patient experience. With increasing needs and static budgets, population health management could be the only way forward. A panel at HBI 2023 considered the options. [+]
JULY 20, 2023

HBI 2023 Panel: Opportunities in Nursing Homes

As ageing populations collide with a shrinking workforce, nursing homes face an uncertain future. Covid thrust this oft taken-for-granted sector into the spotlight and in the wake of recent scandals in France, three experts weighed in on opportunities and trends in nursing homes at HBI 2023.  [+]
JULY 20, 2023

HBI 2023 Panel: This time it's personal: rethinking patient pathways

When we talk about personalised medicine, we often hear about the therapy component, but less so about the service element of care. In an HBI 2023 panel entitled ‘This time it's personal: rethinking patient pathways’ speakers argued that's exactly where personalisation should be occurring. [+]
JULY 18, 2023

HBI 2023: Predictive medicine and fear of the machine

“You wouldn’t manage your car by driving until it broke – so why would you manage yourself by waiting for pain and discomfort?” Ran Balicer asked at the HBI 2023 keynote ‘What is Possible Today?’. But while predictive medicine is common sense, there is still a fear of the machine. [+]
JULY 18, 2023

FMC shareholders vote to deconsolidate

Fresenius Medical Care (FMC) shareholders have voted in favour of the dialysis group’s deconsolidation by a 99.88% majority. [+]
JULY 18, 2023

HBI 2023: Managing your costs in challenging times

Rising costs from inflation, wages, and energy are indiscriminately hitting the health care sector and despite government support packages being pledged, the road ahead looks arduous. So how do providers control costs, and what are the strategies to keep costs at bay? [+]
JULY 15, 2023

HBI 2023: Models that cover more people

Insurers are making fundamental changes to health care delivery. A lively discussion at HBI 2023 explored the changing relationship between private medical insurance, the providers who are delivering new models, and the rise of employee paid insurance. [+]
JULY 15, 2023

75 years on: is the future of the NHS private?

The UK NHS was once globally revered, but cracks are showing as it marks seventy-five years and a question mark hangs over its future. HBI asks half a dozen experts what role for-profits have in its future - and whether it will it last another 75 years. [+]
JULY 14, 2023

Interview: Tom Whicher, DrDoctor

Tackling no-shows is a key part of better utilising NHS capacity. HBI speaks to Tom Whicher, founder of NHS-facing technology platform DrDoctor to find out how it can be done. [+]
JULY 14, 2023

Eugin sale "imminent"

Germany-based healthcare conglomerate Fresenius’ restructuring plans seem to be gathering steam, as HBI hears the sale of its Spain-based fertility clinic Eugin is imminent.  [+]
JULY 14, 2023

Has the demand for self-funding recovered in UK care homes? - Infographic

Data from the UK office for national statistics (ONS) showed the percentage of residents self-funding nursing home care dropped in 2021/22 due to the pandemic. Recovery has been mixed. [+]
JULY 14, 2023

Fertility for sale - why profitable assets are coming to market

An ex-employee of hospital group Circle BMI described its former fertility asset as “a nice little profitable part of the business”. And yet all the UK hospital groups are selling them off. Why? [+]
JULY 14, 2023

HBI 2023 Panel: Opportunities in Mental Health

As the world faces a mental health crisis, a panel at HBI 2023 discussed the impact telehealth and digital therapeutics have on the sector. But with growing demand and a lack of capacity, to what extent can a crisis of global proportions be tackled? [+]
JULY 13, 2023

HBI 2023 Panel: The Homecare Technology Revolution

When election seasons roll around, reforming social care is often allegedly at the top of party agendas, yet care systems across Europe remain chronically underfunded and under stress. In an HBI 2023 panel entitled ‘The homecare technology revolution’, three business founders shared how technology and their business models are disrupting the home care sector. [+]
JULY 13, 2023

HBI 2023: AI and Big Data - cutting diagnosis to treatment times

AI and big data are primed to improve clinical outcomes and standards for radiologists as well as the health care sector as a whole, but how far along the journey to automated care delivery are we? In an HBI 2023 panel discussion ‘AI and Big Data: Outcomes and Automation,’ panellists explored how automation could speed up diagnosis to treatment from 2 weeks to 15 minutes. [+]
JULY 13, 2023

HM Hospitales reports strong FY22

Unlisted Spanish hospital group HM Hospitales’ announced its FY22 results which saw revenue up 7.5% to €617m, as groups battle for second place in the market. [+]
JULY 13, 2023

HBI 2023: The outpatient differential

For years there has been a trend towards using outpatient services wherever possible - to improve patient outcomes, to better use an increasingly scarce workforce, and to increase cost efficiency. On the “Outpatient differential” panel at HBI 2023, how this push looks across the world was a key topic for discussion. [+]
JULY 12, 2023

HBI 2023: Opportunities for integrated women's healthcare

“There are so many other areas in women’s health, beyond fertility, where funding isn’t developed”. Katya Zubareva, a partner at L.E.K. Consulting kicked off HBI 2023’s “Investment opportunity in fertility and women’s health” panel with a fascinating question: why is women’s health hyper focused on fertility? [+]
JULY 12, 2023

HBI 2023: Big opportunities in the UK and Ireland

Speakers at HBI 2023's 'Investing in the UK and Ireland' panel were hugely optimistic about the investment opportunities in the UK and Ireland. [+]
JULY 12, 2023

HBI 2023: Dental models that benefit both customers and clinicians

Outpatient models have the ability to lower barriers for customers through location, opening hours and convenience - but what do clinicians make of changes designed to keep patients happy - and how do operators keep key staff onboard? [+]
JULY 12, 2023

HBI 2023: Is self-testing the future?

During the Covid pandemic everyone had to get used to self-testing at home on a regular basis. Speakers on the ‘Laboratory diagnostics - where after Covid?’ panel at HBI 2023 said we will likely be doing a lot more at-home testing in the future, but that it won’t replace in-clinic testing. [+]
JULY 11, 2023

HBI 2023: The shape of things to come

In the future health care will be much more consumer-centric, personalised and outpatient-heavy. Speakers on a panel at HBI 2023 entitled ‘The shape of things to come’ explained how digitisation, data and new types of medtech are already beginning to move things in this direction. [+]
JULY 11, 2023

HBI 2023: The evolution in primary care

There is a unique opportunity in the primary care sector to build a more efficient, effective and prevention-oriented health care system. Panellists at HBI 2023’s ‘The evolution in primary care panel’, explained that many of the tools needed to do so already exist. [+]
JULY 11, 2023

HBI 2023 Panel: Opportunities in Oncology

Oncology has come a long way in just a few decades to the point where cancer care is increasingly understood as a chronic condition, but more capacity is still needed. At HBI 2023, oncology panelists debated where the best opportunities for growth in the sector lie. Here were some of the takeaways: [+]
JULY 7, 2023

HBI 2023 fireside chat: Women in Healthcare

A whopping 80% of the healthcare workforce is made up of women, but senior leadership level that figure drops down to 20%. As part of HBI’s Women in Healthcare initiative, partner at L.E.K. Consulting Katya Zubareva shared her experiences with an audience of attendees and addressed the unique challenges women in leadership often face. [+]
JULY 7, 2023

HBI 2023 Panel: Seeking Efficiency: How Tech is Impacting Operations

Between resource shortages and growing waiting lists, efficient operations are hard to maintain. In HBI 2023’s panel discussion, “Seeking efficiency: how tech is impacting operations”, a panel explored how tech is an invaluable investment in the future of care. [+]
JULY 7, 2023

HBI 2023 Panel: Investing in Healthcare Property

With energy prices soaring, material costs rising, and care increasingly turning digitised,  panellists at HBI 2023 London explored what investment in brick and mortar looks like in the current climate as part of a session titled ‘investing in healthcare property’.  Here we highlight the four key takeaways from the session. [+]
JULY 7, 2023

The fall of Babylon

Telehealth company Babylon will be merged with digital neurotherapy company MindMaze and taken private by its creditors. HBI catches up with two digital health experts to discuss what happened to Babylon and what the sorry saga means for the market.   [+]
JULY 7, 2023

The families at the heart of Italian health care

Italian industrialists have a penchant for investing in health care services. And it is striking how many of the major groups in Italy are controlled by wealthy families. [+]
JULY 7, 2023

HBI 2023: Healthcare regulation - opportunities and risks

Regulatory changes are one of the major concerns among players in healthcare services. A busy panel of lawyers, operators and investors considered this thorny issue at HBI 2023, with a general feeling that even the strictest of regulations can provide some kind of opportunity, and that private funding is so essential a component in health care today, it cannot be legislated away. [+]
JULY 7, 2023

HBI 2023 Keynote: How to partner better

What does effective partnering look like? In a keynote session at HBI 2023 entitled ‘How to partner better’, Neil Wright, commercial director at Guy’s and St Thomas NHS Foundation Trust shared his experiences. [+]
JULY 5, 2023

How US university hospitals are buying or building primary care

In the US, firms like Amazon have been looking to dominate the patient journey, a move which seems unconscionable in Europe. To understand this culture shock, HBI spoke to a US-based university hospital operator.   [+]
JULY 5, 2023

HBI 2023: Solving the workforce puzzle

The workforce shortage affects all types of service providers, but not all groups deal with it in the same way. HBI 2023 heard the views of operators from a radiotherapy group, a hospital group, and a social services organisation on "how to solve the workforce puzzle”. [+]
JULY 5, 2023

HBI 2023: Major opportunity in German dentistry despite reform uncertainty

Despite the uncertainty around regulatory reform, there are still significant opportunities in the German outpatient market, according to speakers on the ‘Investing in DACH’ panel at HBI 2023. Dentistry, which isn’t subject to the same regulatory restrictions as other outpatient specialities, presents a particularly big opportunity. [+]
JULY 5, 2023

HBI 2023: How the private sector can help Ukraine's health recovery

The private sector will be vital as Ukraine's health service is restored, but there are some caveats, as panellists as HBI 2023 discussed. [+]
JULY 5, 2023

Humana wins appeal against licence revocation

Pan-Nordic care company Humana Group has succeeded with an appeal against the decision by Sweden's health care inspectorate to revoke its licence. The company's share price shot up 48% after the announcement. [+]
JULY 5, 2023

HBI 2023: How to build a massive data platform

Building massive data platforms is a great way for university hospitals to take advantage of all their research – but how can they get the best value from them? The panellists on the “Building massive data platforms” session at HBI 2023 shared their thoughts. [+]
JULY 4, 2023

HBI 2023: Partnership challenges and value

Overburdened public health services are in dire need of help which the private sector could provide, but politicians can be hesitant. The ‘Building value through partnerships’ panel at HBI 2023 explored why. [+]
JULY 4, 2023

HBI 2023: How digital can add value

Digital tools can add value by improving operational efficiency and reducing costs, as well as by improving access and convenience for the patient. Panellists on the ‘Building the best model for digital’ panel at HBI 2023 stressed that it's important to get implementation right. Business leaders must have a clear vision of what they want to get out of the tools. [+]
JULY 4, 2023

HBI 2023: Saudi opportunity "best you could get"

The scepticism which used to exist about whether the Saudi government would follow through on its ambitious moonshot projects appears to be dissipating. Investors are now increasingly confident - and enthusiastic - about the opportunities presented by one of the most rapidly developing economies in the world. This was the overwhelming message from speakers on the ‘Investing in MENA’ panel at HBI 2023. [+]
JULY 4, 2023

HBI 2023 Panel: Investing in Emerging Markets

Emerging markets present opportunities you wouldn't find in more established geographies. In a panel entitled ‘investing in emerging markets’ at HBI 2023 in London, panellists explored where the most potential for investment in emerging markets lies. The main takeaways were: [+]
JULY 3, 2023

HBI 2023: Challenges and solutions in population health partnering

Partnering is all about finding the win-wins, and it seems obvious that population health management and genetic testing should be a win-win scenario. But the “Challenges and solutions” panel at HBI 2023 explored how difficult it can be to create a collaborative culture, get politicians to listen, and get systems to work effectively. [+]
JULY 3, 2023

Interview: Mark Ugbomah, Chief Technology Officer at AfyA Care and Co-Founder, CEO at Octosoft

Healthcare delivery in Nigeria is extremely fragmented. At HBI London 2023, we caught up with the chief technology officer of investor AfyA Care, and CEO of health-tech start-up Octosoft - Mark Ugbomah - to hear about plans to create more vertically integrated healthcare institutions in the region. [+]
JULY 3, 2023

Is Orpea set to sell up in Belgium?

Multiple sources tell HBI that French nursing home operator Orpea is looking to sell up in Belgium, as it looks to sell off a chunk of its 1.2bn real estate portfolio. HBI also hears more speculation on the ongoing country-by-country review. [+]
JUNE 30, 2023

Is it good business to do good?

At a session on ESG at HBI 2023 ('Building a robust ESG framework') all panellists appeared to be on board with the idea that adopting serious ESG strategies is not only good for society and the planet, it's also ultimately good for the business itself and its shareholders. Companies need to shift from thinking of it as a burdensome cost to thinking of it as a necessary investment. Is this true? [+]
JUNE 30, 2023

Sonic buying Synlab’s Swiss operations

Australian multinational labs group Sonic is acquiring the Swiss branch of competitor Synlab, for 150m CHF (€154m). [+]
JUNE 30, 2023

PP in Valencia defends Alzira model

For-profit hospital group Ribera Salud says that having won the May 2023 elections, the new Partido Popular (PP) administration in Valencia is keen to protect and grow the Alzira model that was being dismantled by the previous leftist government. Meanwhile, Ribera is growing in the Middle East. [+]
JUNE 30, 2023

Penta's fight with Slovak government continues

The Slovak government is refusing to allow the state-owned National Health Insurance Fund (NHIF) to pay for any treatments at Bory Hospital - the new €250m, 400-bed facility that Penta Hospitals International (owned by Penta Investments) has recently opened in Bratislava. The refusal marks another round in the battle between Penta and the Slovak state. [+]
JUNE 30, 2023

HBI 2023: Market conditions making minority stakes and public-to-private more attractive

Investors in Europe’s health care sector are increasingly looking at minority stakes and public-to-private deals in the face of market uncertainty and unfavourable debt financing conditions, according to speakers on the Investing in Europe panel at HBI 2023. [+]
JUNE 30, 2023

Interview: Dr Marta Jansa Perez, Bridge Clinic

Demand for fertility is rising, but access can still be difficult. HBI speaks to Dr Marta Jansa Perez, director of embryology at low-cost UK fertility provider Bridge Clinic, to find out what can be done. [+]
JUNE 30, 2023

Flagler seeks European investments

US-based healthcare real estate investment company Flagler Healthcare Investments is eyeing up opportunities in the big five European markets. Undeterred by high levels of regulation and hyper fragmentation, the German market is of particular interest. [+]
JUNE 30, 2023

Health care real estate investors focusing on small all-equity acquisitions 

High borrowing costs are making large scale health care real estate acquisitions funded by debt unprofitable in Europe, according to a consultant we spoke to at HBI 2023. Instead, investors are concentrating on smaller acquisitions financed purely by cash. [+]
JUNE 30, 2023

EDG "will want to keep buying small clinics"

Pan-European dental group EDG will likely want to keep buying to keep the asset interesting once M&A markets resume, according to a banking source. [+]
JUNE 30, 2023

HBI 2023: ESG initiatives can align with other business goals

“Doing good is good for business,” said Thomas Rajzbaum, partner at Swedish private equity investment firm EQT Partners, in a succinct summary of the overwhelming sentiment of all the speakers on the ‘Building a robust ESG framework’ panel at HBI 2023.  [+]
JUNE 30, 2023

HBI 2023: The arid M&A landscape

“Normally I begin by presenting lots of M&A activity over the past 12 months and a rosy outlook,” Hedley Goldberg, managing director at multinational investment bank and financial services company Rothschild & Co., told delegates at the M&A Landscape plenary session at HBI 2023, “but today is not that day.” [+]
JUNE 30, 2023

Preventive health "needs good data, not more advanced AI"

The rapid advances in AI over the past year are not improving the predictive capabilities of health care providers delivering a preventive model of health care, according to Ran Balicer, chief innovation officer at Israeli health care group Clalit Health. New generative AI models have a lot of potential, but also a lot of issues. And older AI models provide plenty of predictive power. The key to unlocking preventive health care is access to good quality data. [+]
JUNE 30, 2023

Diagnostic groups to take on the Greek government

The big Greek for-profit health care groups are forming a national association to take on the Greek government which continues after a decade to claw back yearly a percentage of their profits. Meanwhile an investor tells us that the French government is worried there may be similar moves in France where labs are seeking to negotiate a new three-year price deal. [+]
JUNE 29, 2023

San Donato expands in the Middle East

San Donato, the largest Italian hospital group, continues to expand in the Middle East under the influence of Kamel Ghribi, the Tunisian entrepreneur who has deep links with the Rotelli family who own the business. But sources say moves to find a minority investor in San Donato have ended. President Paolo Rotelli said the group was taking a sabbatical from investing in 2023 after spending nearly €500m on new hospitals.   [+]
JUNE 29, 2023

Organic growth more attractive than M&A - Infographic

This week we share some fascinating data from Hedley Goldberg, managing director at Rothschild & Co, which was presented in the 2023 healthcare M&A landscape panel at HBI 2023. [+]
JUNE 23, 2023

Standout themes from HBI 2023

Four key themes stand out from this year’s HBI conference.  [+]
JUNE 23, 2023

17 things we learned at HBI 2023: Our key insights and takeaways

Our annual conference took place earlier this week in London. Over a jam-packed three days of HBI 2023, an impressive array of delegates from across Europe and beyond gathered in the heart of London and shared their insights into the myriad challenges and abundant opportunities the sector faces, and offered their views on how some of them might be addressed. Here are some of our key takeaways. [+]
JUNE 23, 2023

Mozaic launches sustainable healthcare fund

European real estate asset manager MoZaïC Asset Management announced the launch of its sustainable healthcare fund this week at HBI 2023 - the target value sitting at €500 million. [+]
JUNE 23, 2023

Opportunities in Italian dentistry

Italian dentistry patients are seeking cheaper treatment abroad – but HBI hears there is a big opportunity for Italian consolidators who can push prices down at home. [+]
JUNE 23, 2023

Public funding of fertility in Ireland imminent after six year delay

It has been a long time coming, but HBI hears that the Irish fertility market is set to open up in September of this year as the Irish government funds fertility treatment for the first time. [+]
JUNE 23, 2023

Is there any need to panic over South African NHI?

Last week HBI reported on the South African parliament approving a national / statutory health insurance scheme, which would bring universal healthcare to the rainbow nation at the expense of private providers. HBI speaks to a South African operator to find out how this may affect them. [+]
JUNE 23, 2023

Small practices in Germany looking for quick sale ahead of legislation

A glut of small outpatient clinics in Germany are coming to market as uncertainty grows over the nature of the reforms which federal Minister for Health Karl Lauterbach may be able to pass - but there are questions about the limits of Lauterbach's power. [+]
JUNE 23, 2023

Why assisted living growth has stalled

Growth in the assisted living sector has stalled in the last year, as the cost of new developments has become prohibitively expensive. A delegate at HBI 2023 told us that many projects across Europe have been left half built. [+]
JUNE 23, 2023

Interview: Dr Sridevi Kalidindi, Klip Global

HBI speaks to Dr Sridevi Kalidindi, a national award winning consultant psychiatrist and founder of Klip Global, a digital health startup in the UK which helps employees improve their wellbeing and reduce burnout through a mobile app.  [+]
JUNE 22, 2023

Why are countries ignoring the WHO ‘red list’?

In March, the World Health Organisation published an updated list of 55 countries that have reached a critical point when it comes to shortages in their health care workforces. The implication - or ‘recommendation’ - is that wealthier western nations in particular need to cool it when it comes to actively recruiting nurses and doctors from selected countries. [+]
JUNE 16, 2023

Where to look for green shoots in health care M&A

M&A in European health care has been almost at a standstill in H1 2023, as the chasm between the price expectations of buyers and sellers has grown. HBI asks if the prospects look better for H2 and beyond, with the help of market experts. [+]
JUNE 16, 2023

Which countries are spending the most on preventive care? - Infographic

In this week's infographic we look at OECD data for expenditure on preventive care across 41 countries. [+]
JUNE 16, 2023

South Africa votes for SHI at expense of private care

South Africa's parliament has voted for a new health insurance bill which will pave the way towards universal healthcare – at the expense of private care. [+]
JUNE 16, 2023

Ukraine Minister of Health Recovery to speak at HBI 2023

Ukraine has big plans to leverage the for-profit sector to rebuild its shattered health care system after the war. Oleksii Iaremenko, Head of Health Recovery at the Ukraine Ministry of Health is speaking at HBI 2023, June 19-21. Meanwhile we talk to fellow panelist Mark Hellowell, an academic at the University of Edinburgh who with the EBRD is sitting alongside Iaremenko on the Ukraine panel. [+]
JUNE 16, 2023

Stockholm’s plan to reduce patient choice may increase queues and private pay

The government of the region of Stockholm in Sweden wants to reduce the choice of health care providers patients currently enjoy in secondary care. The government says the move will save money, but private providers are concerned it will be damaging to patient access and efficiency, and could force more people to take out private insurance. [+]
JUNE 16, 2023

Orpea-tunity in Italian nursing homes?

As French nursing home operator Orpea considers which countries it might exit, sources are speculating that Italy could be on its hitlist. If that happens, opportunities could open up for middle size players to make their mark. HBI speaks to two market experts to find out more. [+]
JUNE 16, 2023

Robotic surgery on the rise

Robotic surgery is on the rise and increasingly being deployed for less invasive and more precise surgery. HBI speaks to a consultant (and robot enthusiast) to find out more. [+]
JUNE 16, 2023

Interview: Biju Mohandas, Partner and Global co-leader for Health Investments, LeapFrog Investments

HBI talks to Biju Mohandas, partner and global co-leader for healthcare investments at global impact investor LeapFrog Investments, about investment strategy, increased localisation of supply chains, and the opportunities and the risks of artificial intelligence. [+]
JUNE 16, 2023

AXA IM Alts enters nursing home market in Italy

Global asset manager AXA's investment arm, AXA IM Alts, has entered the Italian market with the forward-purchase of a six-asset portfolio from real estate management company Namira. [+]
JUNE 15, 2023

Markets in Middle East and India on brink of maturity

The private healthcare markets in major Indian and middle eastern cities are on the brink of becoming mature according to a consulting source, and this will require operators and investors to take a different approach. [+]
JUNE 15, 2023

Bupa partners with Ascenti

Multinational insurance giant Bupa has partnered with Ascenti, a UK post-acute rehabilitation provider, to offer physiotherapy services for members. [+]
JUNE 12, 2023

A tough first half 

Deal volume in health care was massively down in the six months to June 2023. Will it get better and where? [+]
JUNE 9, 2023

Silverline evicted after missing rent

UK-based Impact Healthcare REIT has ended a deal with care home operator Silverline Group after the latter failed to pay its contractual rent for two quarters. It is transferring the operations of all homes formerly let to Silverline to an affiliate of an existing tenant, Melrose Holdings Ltd, with immediate effect. [+]
JUNE 9, 2023

Luz Saude's owner aiming to raise €300m+ in IPO

The owner of Portuguese hospital chain Luz Saude is looking to raise at least €300m in an initial public offering (IPO) of the group. [+]
JUNE 9, 2023

How worried should we be about AI?

As public health experts, governments, and the WHO ask questions about the risks posed by AI, HBI speaks to two market experts. Should we be concerned or optimistic about its increasing use, specifically in health care? [+]
JUNE 9, 2023

Sanitas and Generali face court action over Spain partnership

Spanish insurer Sanitas and Italian insurer Generali are facing court action over a patient-sharing partnership affecting Spanish providers, which allegedly violates Spain’s competition rules. [+]
JUNE 8, 2023

UK middle market set to boom

The growing self-pay middle market in the UK is set to boom off the back of continuing NHS struggles, and patients' increasing willingness to pay for affordable alternatives. HBI speaks to multiple sources and hears groups accustomed to NHF tariff work could benefit most.  [+]
JUNE 8, 2023

German investor ban would have "huge impact" on radiotherapy

Plans to ban indirect private equity ownership of MVZ outpatient facilities in Germany would have a huge impact on radiotherapy according to an operator source and panellist at HBI 2023. [+]
JUNE 8, 2023

Orpea draws €200m from new financing

Headline grabbing French nursing home giant Orpea has made a drawdown of €200m from new financing, as it tries to restructure after a difficult 18 months. [+]
JUNE 7, 2023

India continues to boom

India is continuing to buck the global trend of slow deal activity in 2023, with multiple major health care services deals in process. [+]
JUNE 6, 2023

Ribera CEO positive about Alzira future

Last week we reported how the result of the recent elections in Valencia means the Alzira model may yet survive in Spain. We speak to the CEO of the hospital group which pioneered that model to see what he thinks might happen next. [+]
JUNE 5, 2023

AI is in dire need of regulation

From silicon valley to national legislatures, debates around the impact artificial intelligence could have on the future of humanity seem to have reached a new fever pitch in recent weeks. [+]
JUNE 2, 2023

Interview: Jennifer Gendron, Koa Health

HBI speaks to Jennifer Gendron, Global Chief Commercial Officer at digital mental health company Koa Health. Gendron tells us about the digital well-being service Koa Health offers, the new partnership the company has made with global medical and travel risk services provider International SOS, and how this will advance the company’s long-term vision of making personalised, user-friendly mental health tools available for all. [+]
JUNE 2, 2023

GenesisCare in the US files for bankruptcy

GenesisCare, the radiotherapy group with operations in the US, UK, Australia and Spain, has filed for voluntary reorganisation under chapter 11 of the US bankruptcy code and will look to sell off its US assets. HBI speaks to an advisory source to find out more. [+]
JUNE 2, 2023

Sweden wants to bring health care system under national government control

Sweden’s government wants to place the country’s health care system under greater central government control. We speak to two Swedish health care experts to find out what this could mean. [+]
JUNE 2, 2023

Valencian elections hint at the resurrection of Alzira

The leftist government of Valencia has been routed in regional elections. Could this mean a restoration of the out-of-favour Alzira model of public-private partnership (PPP) hospitals? HBI speak to a consultant source to find out more. [+]
JUNE 2, 2023

Low key Latvia sale kicks off Orpea refocusing

Last week, French nursing home operator Orpea initiated the start of the partial sale of its €1.2bn real estate portfolio, commencing with its Latvian presence - a singular retirement home in Riva. This low key sale marks the first small step in a major three-year plan to refocus its geographies. HBI speaks to a market expert to find out more. [+]
JUNE 1, 2023

Changes at the top of Runwood Homes

Three members of the senior leadership team at UK nursing home operator Runwood Homes departed the firm last month. COO Lorraine McGarry-Wall, CFO Phillip Thomas, and CEO Jeremy Richardson had all been appointed as directors of the company within the last 12 months.  [+]
JUNE 1, 2023

Market welcomes Apollo hospitals strong FY23 results

Indian hospital group Apollo had a strong showing for its FY23 results, which saw shares in the listed group surge. [+]
JUNE 1, 2023

Interview: Rahma Samow, global head dental services organization, Straumann Group 

Ahead of HBI 2023 next month, we catch up with dentistry panelist Rahma Samow, EVP dental services organizations at Straumann Group, to find out more about her role and the trends surrounding oral health and their impact on enterprise DSOs globally. [+]
JUNE 1, 2023

Interview: Jason Powell, Co-CEO, UK Vein Clinic Group 

We look at how to build a dynamic, low-cost outpatient chain which delivers high quality care and at the UK venous market more generally with Jason Powell, whose UK Vein Clinic Group looks set to grow revenue 50% in 2024, after doubling sales in 2023.   [+]
MAY 31, 2023

Dutch competition authority gets reined in again

The Netherlands’ activist competition authority has been reined in again. The acquisition of dermatology specialist Mauritskliniek by hospital group Bergman Clinics is no longer barred, after another reversal by a judge. However, the decision is moot, as Mauritskliniek has already been bought by German cosmetic surgery provider Corius Gruppe. [+]
MAY 30, 2023

UK private pay growing, but self-pay declines slightly - Infographic

The Private Health Information Network (PHIN) has released its quarterly private market update, showing private pay admissions in the UK through to Q4 2022. [+]
MAY 26, 2023

UK outsourcing gets bi-partisan support

Outsourcing to the for-profit sector will become an increasing fact of life in the UK. The two major parties agree it’s necessary to reduce the record-breaking elective care waiting list. A detailed report has already been prepared and is ready for publication, yet HBI understands the long awaited Outsourcing Taskforce plan is set to be released in dribs and drabs. HBI investigates. [+]
MAY 26, 2023

Fighting back against brain drain

Western Europe is becoming increasingly dependent on importing talent to address its workforce crisis, but there are signs of resistance to the brain drain. With Nigeria looking to introduce a mandatory domestic five-year service for all doctors, HBI speaks to a global workforce expert to see if this kind of pushback could have any lasting impact. [+]
MAY 26, 2023

€1bn+ Luz Saúde IPO could mark return of European health care listings

Luz Saúde, Portugal’s second largest private hospital group by revenue, is set to become a listed company once again after five years of being privately held, in an IPO which could mark the return of European health care listings. The group’s insurer owner Fidelidade plans to retain a strategic majority stake. [+]
MAY 26, 2023

The German hospital reforms have become a farce

When German health minister Karl Lauterbach proposed his hospital reforms, he probably imagined himself as the hero of the drama, striding across the political stage and heroically redefining an oversupplied market. Instead, increasingly he looks to have penned a farce. [+]
MAY 26, 2023

Lauterbach's "plan to close hospitals" will prevent hospitals closing

German health minister Karl Lauterbach’s broad hospital reform may be dissolving into farce, as he acknowledges a plan which looked designed to close unneeded hospitals could actually save them. [+]
MAY 26, 2023

China's new elderly care guidance will create opportunities

China has announced guidance for all provinces to establish a basic elderly care system by the year 2025, according to state-run news channel Xinhua. As the government works to address the impending demographic crisis born largely out of the country's 'one-child policy', HBI speaks to two experts from global strategy firm L.E.K. Consulting to learn more. [+]
MAY 25, 2023

The AI revolution in oncology

The AI revolution is coming for oncology, according to CEO Ralph Hefti who helms pan-European radiotherapy group Stingray Healthcare. We catch up with the HBI 2023 panelist to find out more. [+]
MAY 25, 2023

Germany looks to emerging markets for care workers

As an aging population compounds Germany’s workforce crisis, the search for staff continues to expand outside Europe. With the government launching an initiative to attract skilled care workers from Brazil and beyond, HBI speaks to two market experts to find out more. [+]
MAY 25, 2023

TVM Capital opens Riyadh office to expand Saudi footprint

Emerging markets-focused PE health care firm TVM Capital Healthcare is opening a new office in Riyadh, Saudi Arabia, to assist the expansion of its portfolio companies in the country. [+]
MAY 24, 2023

UK patients paying up to £550 for GP appointments

As the UK NHS continues to struggle, increasingly patients are turning to private primary care. HBI understands some are paying up to £550 per hour. [+]
MAY 24, 2023

Are some private clinicians effectively licensed drug dealers?

This week the BBC released a panorama episode entitled ‘Private ADHD Clinics Exposed’, in which it went undercover to find that three private clinics in the UK are giving out ADHD prescriptions based on a short and potentially unreliable online assessment delivered by a non-psychiatrist. Is there a wider issue that there is a perverse incentive in private health care to over diagnose and over prescribe? [+]
MAY 19, 2023

WHO warnings of AI in healthcare

In a report published this week by the UN agency, the WHO has raised concerns about the patient safety and potential risks associated with the use of AI language platforms simulating human interactions in healthcare. Public health experts are also calling for a pause on developments until regulations have caught up. [+]
MAY 19, 2023

Private ADHD clinics in the UK prescribing after online assessment

The BBC’s Panorama team has found that there are private ADHD clinics in the UK that are prescribing for ADHD based on just a short and, it says, unreliable online assessment.  [+]
MAY 19, 2023

Another German nursing home restructuring due to financial issues

Last month Berlin-based Dorea - a subgroup of European care homes Groupe Maisons de Famille - became the latest German nursing home operator to file for restructuring due to financial difficulties. As the number of companies financially struggling ramps up at an alarming rate and in quick succession, HBI speaks to two market experts to find out what’s going on. [+]
MAY 19, 2023

Interview: Stephane Pichon, Your Care Consult

HBI catches up with Stephane Pichon ahead of the Investing in Health Care Property panel at HBI 2023, to discuss the dramatic changes of the past year and how this has impacted health care real estate investment, and the long term outlook for the health care sector. [+]
MAY 18, 2023

Top destinations for holiday dialysis - Infographic

In its recent ESG report, multinational dialysis firm Diaverum revealed the top 10 countries in Europe and internationally where patients use the group's holiday dialysis treatment. [+]
MAY 18, 2023

Korian says name change is “not a rebrand”

Last month leading French nursing home operator Korian announced that as of July 1, it will be adopting a new name. Going forward, parent company Korian will be known as ‘Clariane’ - a name HBI understands is designed to evoke clarity and transparency. Is this a reaction to the recent scandals engulfing the sector? Korian claims not. Our sources disagree. [+]
MAY 17, 2023

EDG "pulled from sale"

HBI hears the sale of Nordic-owned multinational dentist-led European Dental Group (EDG) is no longer going ahead. Multiple well-placed sources tell us more. [+]
MAY 17, 2023

Blackstone acquires Care Hospitals, whilst rival bidder sues

US-based PE firm Blackstone is acquiring Care Hospitals, one of India's largest hospital groups, for around $800m. Meanwhile Max Healthcare, another one of India’s largest private hospital groups and a former front-runner in the sale process, is suing Care Hospitals and its PE owner TPG, for breaching an exclusivity agreement for the sale signed in March. [+]
MAY 16, 2023

Is Kursana a Cinderella?

Dussmann, the big European facilities management company which also owns Kursana, the fifth largest German nursing home group, saw revenue grow 20% to €2.8 billion in 2022. The company claimed that this was “almost exclusively organic.” But the Care & Kids division which is mainly Kursana didn’t grow at all. Is it a Cinderella? [+]
MAY 16, 2023

UPMC continues Irish expansion

US-based multinational hospital group UPMC (University of Pittsburgh Medical Centre) has bought Irish sports medicine hospital Sports Surgery Clinic. It is the US group’s fourth hospital in Ireland. [+]
MAY 15, 2023

Strong growth for Synlab in final quarterly results before going private

Multinational listed labs group Synlab continues to grow its core operations as Covid testing winds down and it prepares to go private, with a healthy 10% organic revenue growth in Q1 2023. [+]
MAY 12, 2023

Babylon to be taken private by creditors

Shareholders in Babylon, which was worth $4.2bn at listing in October 2021, face being wiped out as it reverts to private ownership as creditor Albacore takes over. CEO and founder Ali Parsa, whose remuneration totalled $7.1m in 2022, is likely to stay on, says a legal expert who says the group could face legal action. [+]
MAY 12, 2023

A bientôt Korian, bonjour Clariane!

When an organisation is marred by a reputational scandal so harmful that it jeopardises the bottom line, often a corporate rebrand is the only solution. This course of action is nothing new and there are countless examples of successful makeovers across industries, and health care is no different. [+]
MAY 12, 2023

Dutch nursing home consolidation infographic - Infographic

The Dutch nursing care market is highly consolidated, primarily by the top for-profit French operators - namely Korian and Orpea - who have been acquiring multiple smaller Dutch operators since 2018. Five years on, the two leading French giants control over 60% of the beds in the market under various different brand names. The big two have acquired the lower tier competitors so there aren't that many targets left to acquire. This infographic is kindly supplied by Dutch healthcare consultancy Vardetun. [+]
MAY 12, 2023

€1bn+ German outpatient group sale to shake up market

German out-of-hospital intensive care provider Deutsche Fachpflege is reportedly up for sale, in a deal that could value the company in excess of €1bn. HBI understands other players in the sector may also be coming up for sale in the coming months. [+]
MAY 12, 2023

Sales rumours make Fresenius' future clearer

Germany-based health care conglomerate Fresenius’ plans for its future are becoming clearer as rumours of subsidiary sales come to the fore. [+]
MAY 12, 2023

Catalonia ripe for investment

Catalonia has witnessed a string of promising health-focused investments in the first quarter of 2023.  [+]
MAY 12, 2023

Ireland's ‘Fair Deal Scheme’ for nursing homes under fire

As an Irish nursing home is pulls one of its homes out of the public funding scheme citing “extreme financial pressure”, and elements in the government appear increasingly hostile to for-profits in the sector, HBI speaks to a market expert and asks if this is a blip, or a trend. [+]
MAY 12, 2023

Finnish outsourcing opportunities slow to materialise

The SOTE reform to the Finnish health care system has been in place since January 1, 2023, but additional outsourcing opportunities have been slow to materialise. Operators are nonetheless convinced they are on the way. [+]
MAY 10, 2023

NHS England to give pharmacists right to prescribe for common ailments

NHS England is giving pharmacists the right to prescribe antibiotics for seven common ailments, in a plan that is expected to free up 15m GP appointments. [+]
MAY 9, 2023

Orpea restructuring: What will it look to sell?

It has been almost six months since under-fire French nursing home giant Orpea announced plans to get its core business back on track, restructure its debt, and sell around €1.2bn worth of real estate over the next three years. As discussions separating the wheat from the chaff go on behind closed doors, HBI asks three experts where, and what it might sell, and reviews what other French operators like Korian are doing to repair reputation. [+]
MAY 5, 2023

Why there is no quick fix for German healthcare

At times, it can feel like healthcare reform moves at the pace of an oil tanker, and currently, nowhere is this more true than in Germany. Among the issues holding the EU5 market back are an allergy to digitalisation, an inability to make unpopular decisions, and the rigidity of roles in the medical profession. [+]
MAY 5, 2023

Finnish healthcare looks strong despite big groups' mixed results

On first glance the Q1 reports for Finnish groups Pihlajalinna and Terveystalo present a mixed look at the state of the for-profit market in Finland – but this couldn’t be further from the truth. [+]
MAY 5, 2023

Challenges and opportunities in Italian imaging

HBI catches up with an operator in the Italian imaging market to discuss some of the major challenges and opportunities the sector faces. [+]
MAY 5, 2023

CQC in UK ramps up prosecutions - and penalties - post Covid

UK healthcare watchdog the Care Quality Commission (CQC) has ramped up its prosecutions post Covid, with the average penalty increasing by 242% - from £160,000 pre-pandemic (2017-2019) to £550,000 post-pandemic (2020-2022).  [+]
MAY 5, 2023

Inflexibility and data protection holding Germany back

Role rigidity in German hospitals and data protection laws are holding Germany back, according to a professor at a university hospital. HBI speaks to a workforce expert to find out more. [+]
MAY 5, 2023

More strikes on the way in Finland and Croatia

As the global health care workforce crisis shows no signs of slowing, HBI looks at what is happening in Finland and Croatia, where industrial action is underway. [+]
MAY 5, 2023

Activist Dutch competition authority gets reigned in 

Last year we reported that The Netherlands’ competition authority was becoming increasingly activist in blocking health care mergers. But two recent decisions, one from the government and one from a judge, call into question the extent to which it can do this. [+]
MAY 5, 2023

Sonic continues consolidation of German labs with another acquisition

Multinational Australian labs group Sonic is acquiring regional German labs group Medical Laboratories Duesseldorf (MLD), in its second acquisition in the sector in the space of one month. [+]
MAY 5, 2023

German hospital reforms "breach constitution" - but some hospitals will close

German health minister Karl Lauterbach’s controversial hospital reforms have hit another bump in the road, with a new 144 page legal report stating the proposals are outside of the federal government's jurisdiction - and against the constitution. [+]
APRIL 28, 2023

UK healthcare property market healthy, despite headwinds

According to global property consultant Knight Frank, the UK healthcare property market saw significant transaction volumes closing at circa £2.4bn in 2022 despite political instability, with overseas capital accounting for 31% of transaction volume due to a mix of European and American capital being deployed into various care assets. [+]
APRIL 28, 2023

Spanish PMI boost as government tries workforce fix

Continued inefficiencies in the Spanish NHS continue to drive an increased uptake in private medical insurance (PMI), as the government tries to patch up an under par public workforce. [+]
APRIL 28, 2023

Bismarckian systems tend to pay nurses better than NHS systems - Infographic

In this week's infographic we look at data on average nursing salaries across several European countries, categorised by whether they have Bismarckian/statutory insurance systems or NHS systems. [+]
APRIL 28, 2023

UK CQC strike escalates - inspections could be delayed

Hundreds of staff at UK government watchdog the Care Quality Commission (CQC) have voted for further industrial action amid an ongoing dispute over pay. A one-day strike took place last week on Monday, April 17 and another is expected to happen next week on Tuesday, May 2. [+]
APRIL 28, 2023

Flemish government wants to ban profit on care-giving

The Flemish government wants to ban profit-making from care-giving in the nursing home sector in the Flemish region of Belgium. [+]
APRIL 28, 2023

Is any German nursing home truly safe from bankruptcy?

The nursing home industry in Germany has been rocked by a spate of bankruptcies in recent months. As another operator bites the dust, it has left many wondering - are more to come? HBI speaks to two market experts to decipher whether the ‘once is a mistake, twice is a coincidence, three times is a pattern’ adage holds any water. [+]
APRIL 28, 2023

IK Partners to take UK teleradiology provider Medica private

Listed UK-based teleradiology provider Medica is being taken private by PE firm IK Investment Partners, which has made an offer of £269m to buy all of the group’s shares. Medica has accepted the offer, which was 32.4% higher than the group’s average market cap over the past three months. [+]
APRIL 28, 2023

Interview: Dr. Francois Sarkozy, Président FSNB Health & Care, Founder of Tous pour la Sante.tv

What is the trajectory of healthcare reform in France? And what opportunities and threats does that pose for the for-profit sector? Is outsourcing likely to increase? …Who better to answer this than Dr Francois Sarkozy, whose strategy consultancy covers everything from market access through to public affairs. [+]
APRIL 28, 2023

What the Marie Celeste NHS feels like today

Mansfield Advisers recent research showed that whilst the number of doctors and nurses working for the NHS has risen by 15% since 2019 and the Covid pandemic, the actual volume of work has fallen to 90% of the levels in 2019. What does that really feel like? [+]
APRIL 28, 2023

Unilabs consolidates Dutch labs by acquiring Atalmedial

Multinational Swiss labs giant Unilabs is consolidating its position in the Dutch labs market by acquiring Atalmedial, one of the largest national players.  [+]
APRIL 27, 2023

The confused politics of health care

Regular HBI readers understand the widely-held belief that in health care “for-profit = bad” is far from the whole story - and often not a part of it. But it is worth pondering where this view comes from, and disentangling the various assumptions which underlie it, in order to separate ideas which have some justification from those that are confused, or even outright inconsistent.  [+]
APRIL 21, 2023

Amanat loses a CEO, and gains a platform

UAE-based listed health care and education investment firm Amanat Holdings has had an interesting few weeks. First, its high-flying CEO departed the group, allegedly by mutual consent - but without an immediate successor. Now Amanat has announced it is consolidating its healthcare assets into a single platform. [+]
APRIL 21, 2023

Swiss premium rise will not benefit operators

Despite 2023 seeing the highest premium increase in over a decade, the price of Switzerland’s compulsory insurance is likely to rise again in 2024. Swiss operators tell HBI they aren’t getting help to deal with inflation. [+]
APRIL 21, 2023

Interview: David Talby, John Snow Labs

HBI speaks to David Talby, a computer scientist based in Seattle who has been working as chief technology officer at John Snow Labs, a US-based AI software company with a keen interest in natural language processing, for the past four years. [+]
APRIL 21, 2023

Temasek buys $2bn additional stake in Manipal

Singaporean state-owned investment conglomerate Temasek is to become majority shareholder in Manipal Hospitals, one of India’s largest hospital chains, as it increases its stake from 18% to 59%. [+]
APRIL 21, 2023

Two Korian cooks to face manslaughter charges

Two cooks working for multinational French elderly care giant Korian are being charged with manslaughter over the deaths of five elderly care residents in a food-poisoning incident which took place at one of the group’s French nursing homes in 2019. [+]
APRIL 21, 2023

Consolidation is not the only answer: Why PE must focus on efficiency

European private equity (PE) health care investors have relied heavily on growing the scale and revenue of the companies they’ve acquired to create returns over the past decade, especially through consolidation, according to a new report by consultancy Bain & Company. But changing economic conditions may force them to pivot towards focusing on boosting margins through operational efficiency in the coming years. [+]
APRIL 21, 2023

Mubadala-backed M42 buying Diaverum "for $2bn+"

Swedish multinational dialysis firm Diaverum is being bought by M42, a joint venture between Abu Dhabi sovereign wealth fund Mubadala Investment Co and AI firm G42, for a reported $2bn-$2.5bn. Diaverum’s CEO tells HBI the deal offers further opportunities to develop its digital strategies, and international expansion.  [+]
APRIL 19, 2023

How will AI change healthcare services?

Healthcare services companies and public health systems are looking at ways they can integrate AI into their workflows. What will the future of healthcare services look like? HBI speaks to digital health experts to find out more. [+]
APRIL 19, 2023

More UK outsourcing on the way, and NHS crisis here to stay as doctors look abroad

The government taskforce setting out how the UK NHS will outsource more to tackle its record-breaking backlog is set to be published soon. However while the private sector is willing to help, other long-term issues like workforce and capacity mean public sector issues will persist. HBI speaks to UK healthcare sources to find out more. [+]
APRIL 14, 2023

Why are so many European health care workers revolting?

One of the enduring themes of 2023 is the hundreds of thousands of healthcare workers across Europe taking to the streets to strike, protest, and voice their anger. [+]
APRIL 14, 2023

Founder of DomusVi Spain to stand down

After 23 years, the former CEO and founder of elderly care specialist DomusVi Spain is leaving the group. [+]
APRIL 14, 2023

Interview: Edward Booty, CEO, reach52

HBI catches up with Edward Booty, CEO at Singapore based health platform Reach52, to find out about growth during a pandemic, the importance of primary care, and digital health solutions. [+]
APRIL 14, 2023

What is the solution to the German nursing crisis?

German nursing homes are struggling to attract staff in a competitive workplace, as paperwork and regulations are getting in the way. Two market experts tell HBI bureaucracy is stifling growth at a time when it is vital a pragmatic view is taken of the workforce. [+]
APRIL 14, 2023

Practice Plus Group launches affordable self-pay offering

UK hospital operator Practice Plus Group has launched a middle-market option for self-pay at a time when the segment is growing. [+]
APRIL 14, 2023

Medica results show familiar state of UK healthcare services

Medica, which provides teleradiology services to the UK NHS, operates in Ireland, and has a presence in the US, has released its latest financial results. The company is continuing to grow, but feeling the pinch from inflationary pressures. [+]
APRIL 14, 2023

Digital health booming in CEE

Digital health is booming in Central and Eastern Europe (CEE), boosted by several countries in the region introducing major policy initiatives to integrate telehealth solutions and digitise their health systems. CEE-based multinational law firm Kinstellar spells this out in its latest ‘Current eHealth trends in CEE and Turkey’ report. [+]
APRIL 14, 2023

Spanish insurer for doctors sees profit boost

A Spanish mutual insurance company which caters specifically to doctors saw its profits and uptake rise as the global health workforce crisis shows no signs of abating. [+]
APRIL 14, 2023

Interview: Anuschka Coovadia, CEO, Usizo Advisory

HBI talks to Anuschka Coovadia, CEO at South-Africa based advisory group Usizo Advisory, about payor-provider relationships in Africa and ongoing efforts to improve healthcare coverage. [+]
APRIL 13, 2023

German property group selling off €1.3bn portfolio

It has been almost two years since listed Germany-based healthcare property specialist Vonovia acquired its former rival Deutsche Wohnen. We speak to three Germany-based experts to find about more about the ongoing sale of its £1.3bn property portfolio. [+]
APRIL 6, 2023

Do AI chatbots work in healthcare as well as humans? (Poll)

AI chatbots are becoming increasingly popular in the healthcare industry, and there is growing evidence to suggest that they can work just as well as humans in certain scenarios. [+]
APRIL 6, 2023

The state of digital health policy in CEE - Infographic

CEE law firm Kinstellar has released its latest update on the state of digital health in Central and Eastern Europe. The April 2023 version of 'Current e-Health trends in CEE and Turkey' focuses primarily on the state of policy and regulation on digital health across nine countries in the region. [+]
APRIL 6, 2023

Uptake of telemedicine is higher in women in emerging markets

Telemedicine is being hailed as healthcare’s answer to the problem of access, particularly in emerging markets. But it’s women - often unintentionally - who are proving to be the most avid users of decentralized models. HBI speaks to two Africa and Asia based access experts to understand why. [+]
APRIL 6, 2023

Deal activity bouncing back in SE Asia

Last week we wrote about an expected return to normal of M&A deal activity in Europe in Q2, after a slow few months driven by macroeconomic uncertainty. In South East Asia deal activity already appears to be returning to a healthier level, with multiple $1bn+ deals reportedly underway. [+]
APRIL 6, 2023

Diaverum deal: An analysis

Last week the news broke that Abu Dhabi sovereign wealth fund Mubadala Investment Co might be set to buy Swedish multinational dialysis firm Diaverum for a reported $2.5bn. HBI speaks to an operator source who thinks this would be a good price for the seller - and hears why some investors are switched off by dialysis. [+]
APRIL 6, 2023

Interview: Steven Pink, CEO, Verve Healthcare

HBI speaks to Steven Pink, CEO of London-based primary care co-op SELDOC, about a new corporate wellness spin-out called Verve Healthcare. [+]
APRIL 6, 2023

Interview: Jose Bailey, commercial director, CHEC

UK-based and NHS focused ophthalmology group CHEC is branching out - expanding its offering, going private in Wales, and diversifying into endoscopy with new dual purpose clinics. HBI chats with Jose Bailey, commercial director, to find out more. [+]
APRIL 5, 2023

Sonic acquires Diagnosticum

Multinational Australian labs giant Sonic is buying Diagnosticum, a medium-sized German labs chain which operates 15 laboratories and employs 25 pathologists, for €190m. [+]
APRIL 5, 2023

South Africa’s competition tribunal have officially approved the acquisition of South Africa-based multinational hospital group Mediclinic, but the buyers needed to accept conditions which were less to do with competition, and more to do with the public good.
APRIL 5, 2023

The secret to REIT success: Be picky

As inflation and energy costs spiral out of control, traditional brick and mortar investments in elderly care are increasingly being perceived as potentially risky business. An award-winning Madrid-based REIT tells HBI its formula success in a difficult climate. [+]
MARCH 31, 2023

Orpea shareholders try to avoid mass dilution

French nursing home giant Orpea’s snubbed shareholders group Concert’O has teamed up with other unsecured lenders in a last-ditch attempt to avoid mass share dilution. Protesting at the operator’s restructuring deal, the group has presented an alternative plan.  [+]
MARCH 31, 2023

Bupa Dental Care to close 85 UK practices

Bupa Dental Care, the UK’s second largest dentistry group by revenue, is closing 85 of its 450 UK practices. The group says the move was driven by difficulty in recruiting enough dentists to provide NHS care, as well as rising costs and difficulties surrounding the NHS contract model. [+]
MARCH 31, 2023

Infographic: Life Expectancy in top 5 European Markets - Infographic

This week, HBI looks at the life expectancy of total populations in the big five Western European markets - the United Kingdom, Germany, France, Italy, and Spain - using public data from OECD. This report doesn’t include Scandinavian countries which notoriously boast the longest life expectancies on the continent. [+]
MARCH 31, 2023

M&A set to bounce-back in Q2?

Economic uncertainty and concerns about a looming recession led to a slowdown in M&A deal flow in H2 last year. 2023 has got off to a slow start too - with a dearth of larger deals in particular. But HBI hears Q2 could see the start of the bounce back - and that even the threat of a global banking crisis isn't dampening the enthusiasm of PE firms, which have other sources of capital. [+]
MARCH 31, 2023

UAE sovereign wealth fund "targets $2.5bn Diaverum"

Abu Dhabi sovereign wealth fund Mubadala Investment Co is considering the acquisition of $2.5bn Swedish pan-European dialysis group Diaverum, according to reports. [+]
MARCH 31, 2023

Is the deals dam ready to burst?

Economic uncertainty and a slew of global problems led to an M&A slowdown at the end of last year, and into 2023. Could we see a flood of deals in Q2? [+]
MARCH 31, 2023

Icade reaches agreement to sell healthcare real estate to Primonial REIM

French real estate investment trust Icade has signed an exclusivity agreement on the sale of its minority stake in Icade Santé, part of its healthcare real estate portfolio, to France-based pan-European real estate investment firm Primonial REIM, and is arranging the sale of the asset portfolio owned by Icade Healthcare Europe (IHE). [+]
MARCH 31, 2023

French radiology and teleradiology consolidation set to heat up

The long awaited consolidation of French imaging is set to ramp up, especially in the attractive fields of radiology and teleradiology, according to French sources. [+]
MARCH 31, 2023

Interview: Pretty Mubaiwa, Director of Corporate Affairs, Africa Resource Centre

How is it you can find Coco-Cola in remote villages in Africa, but not much needed healthcare supplies? HBI catches up with Pretty Mubaiwa, South-Africa-based director of corporate affairs at supply-chain expert advisory group the Africa Resource Center (Arc), to find out more. [+]
MARCH 30, 2023

$1.3bn+ Ramsay Sime Darby sale revived

Ramsay Sime Darby, the South East Asian branch of multinational Australian hospital giant Ramsay, may be up for sale again. The previous sale process to Asia’s largest multinational hospital group IHH Healthcare Bhd was ditched back in September. [+]
MARCH 28, 2023

Doctors offered substantial referral bonuses to recruit colleagues

In the increasingly competitive battle for top talent, some private hospitals in the UK - including some of the US-owned hospitals in London - are putting referral schemes worth thousands of pounds in place for doctors who refer potential colleagues to for-profit groups. Golden hellos are also being deployed. HBI speaks to London analysts and a workforce expert to find out more. [+]
MARCH 24, 2023

Europe's biggest health care real estate deals in 2022 - Infographic

Real estate consultancy Knight Frank has released its 2022/23 UK Healthcare Property Market Overview. But don't let the name fool you - the report includes some great data from across the whole of Europe! In this week's infographic we look at major health and care real estate transactions. [+]
MARCH 24, 2023

Controversial GPs out-of-hours system could see Hungarian doctors leave the country

The Hungarian government has increased the intensity of its attacks on the doctors association (MOK) as it seeks to enforce its out-of-hours system for GPs. This could trigger the mass exodus of Hungarian doctors, and have a knock on effect on for profit operators. [+]
MARCH 24, 2023

Private sector nurses go on strike in Portugal for the first time

On Thursday, March 16, private sector nurses in Portugal participated in a nationwide strike for the first time in history. The union is demanding better compensation, capped working hours, and better working conditions. [+]
MARCH 24, 2023

US$1bn merger bid between Australia's second and third largest labs groups

Two of Australia’s largest diagnostic groups by revenue may about to merge: pathology chain Australian Clinical Labs (ACL) has made a A$1.52bn (US$1.02bn) offer for Healius, a larger rival which has diagnostic imaging capacity as well. [+]
MARCH 24, 2023

AI is about to change everything

For those old enough to remember the latter years of the 1990s, consider the following curiosity about this period: despite the Internet (or the World Wide Web, as it was known back then) being so much the rage that it led to a stock market bubble - and crash - with businesses across a range of industries expending significant resources trying to find ways to cash in on it, most ordinary people had never used it. [+]
MARCH 24, 2023

Ultrasound the ‘biggest opportunity in UK imaging’

Ultrasound represents the biggest opportunity in diagnostic imaging in the UK market, according to a major operator in the sector. Portability, lower costs and larger volumes compared to X-ray, CT and MRI make it particularly attractive for agile for-profit providers in a sector long-dominated by the NHS. [+]
MARCH 23, 2023

Interview: Sam Gray, Apposite Capital

London-based PE group Apposite Capital is among the most active investors in health care in Europe. HBI chats with managing partner Sam Gray about the state of the market and pricing, how he sees that changing, and the investment opportunities piquing his interest at present. [+]
MARCH 23, 2023

The future of telehealth is partly in bricks and mortar

With Covid hopefully on the wane, the firm foothold digital health established in many markets is looking a little less stable. What next for groups like Swedish telehealth firm Kry? HBI speaks to two experts and Kry itself to find out why telehealth is getting physical. [+]
MARCH 22, 2023

Inflow of nurses to top five European markets - Infographic

This week, HBI looks at the annual inflow of nurses from abroad to the big five Western European markets - the United Kingdom, Germany, France, Italy, and Spain - using public data from OECD. Those looking for an outlier need look no further than the UK. [+]
MARCH 17, 2023

Watch out! Here come the heavyweight tech disrupters

HBI does not often report on deals taking place “across the pond” so when something does make our pages, it’s significant, and a portent of things to come. Amazon’s staggering $3.9bn acquisition of One Medical which we covered earlier this month certainly fits the bill in both regards. Here come the tech disrupters. [+]
MARCH 17, 2023

Cinven looks to take Synlab private as Covid boost falters

Frankfurt-listed Synlab could be about to be taken private following a non-binding full takeover offer earlier this week. With its full year results released yesterday and facing questions about its plans, HBI asks market experts what they think of the move. [+]
MARCH 17, 2023

Private sector price increases likely as budget offers no reprieve for UK NHS

The UK budget on Thursday, March 16, offered no reprieve for a cash-starved NHS, meaning for-profit demand is here to stay. HBI speaks to a UK-based consultant to find out more. [+]
MARCH 17, 2023

Could Orpea's creditors derail a 'done deal'?

Orpea is trying to put a year of scandal, scrutiny, and scathing headlines behind it, but disgrunteld creditors worried about share dilution are attempting to derail its carefully crafted transformational plan. HBI speaks to a market expert to weigh up their prospects for success, and find out more. [+]
MARCH 17, 2023

African healthcare's do it yourself plan

The pandemic exposed the fragility of supply chains in emerging markets, and their overdependence on international networks. As delegates at the IFC’s conference in Cape Town, South Africa heard last month, there is a renewed appetite in Africa for self-sufficiency and a coordinated shift towards regionalisation. [+]
MARCH 16, 2023

Japanese investors target African health care

An increasing number of Japanese investors are looking to invest in African health care. As Africa strives to increase accessibility to care and increase insurance coverage, we speak to an investor who things the Japanese model is a good fit. [+]
MARCH 16, 2023

EMR boost in Germany and Sweden

Sweden is looking to centralise more data – primarily to boost the efficiency of its electronic medical records (EMR). Meanwhile German health minister Karl Lauterbach is making the German patient medical records an opt-out system to boost uptake. HBI speaks to experts to find out how these developments will affect healthcare services. [+]
MARCH 16, 2023

Max Healthcare and KKR left in the race for Care Hospitals in India

India-based hospital group Max Healthcare and PE firm KKR are the bidders still left in the race to acquire another India-based hospital group, Care Hospitals. [+]
MARCH 16, 2023

Interview: Tony Veverka, Y1 Capital and Transform

UK-based Transform Hospital Group has gone through its own transformation recently. Historically a medical aesthetics, cosmetic and weight loss surgery-focused business, the group went into administration last year and was bought by a team including former CEO Tony Veverka who is reshaping it into a leaner, broader healthcare services provider. HBI catches up with him to find out more. [+]
MARCH 16, 2023

Virtus grows in Denmark, targets international patients

Australia-based fertility specialist Virtus Health has a new showpiece clinic in Copenhagen. HBI hears it is targeting both locals and medical tourists, and speaks to a source to find out more about the appeal of the Danish market. [+]
MARCH 15, 2023

Cinven looking to take Synlab private

London headquartered global PE firm Cinven has submitted a non-binding offer to fully take over Europe's largest lab group Synlab, the company confirmed today, following speculation it was looking to take the group private. [+]
MARCH 13, 2023

Is there still fertile ground for medical tourism?

As European law homogenises and countries across the continent fall into step, does this mean an end to the once lucrative medical tourism trade enjoyed by countries with softer regulation? Perhaps surprisingly, HBI hears not completely – or at least not yet. [+]
MARCH 10, 2023

Interview: Simon Miller, Headspace

HBI speaks to Simon Miller, Headspace’s international partner lead, about the company’s long-term vision to create a digital mental health platform offering a personalised service across a wide continuum of care.  [+]
MARCH 10, 2023

UK for-profit demand stays high as cash-starved NHS faces tough choices

For-profit demand in the UK is likely to remain high, as the UK government stalls on its plans to increase public sector capacity. HBI speaks to a UK-based consultant to find out more. [+]
MARCH 10, 2023

FutureLife acquires again in Spain

Czechia-based fertility group FutureLife continues to expand in Spain with its latest acquisition. HBI chats with a European fertility operator to find out what is making the Spanish market appealing to investors. [+]
MARCH 10, 2023

Ireland to fund fertility for the first time

The Irish government is set to fund fertility treatment for eligible patients for the first time. HBI speaks to an Ireland-based operator to find out more. [+]
MARCH 10, 2023

Merger strengthens Medigold's occupational health offering

Medigold, one of the UK’s largest occupational health care providers, is acquiring Health Management, a major competitor, in a deal that will make it the UK's largest provider of occupational health in terms of number of employees covered. [+]
MARCH 10, 2023

German PE crackdown could actually be surprise boost for bigger groups

German health minister Karl Lauterbach’s attempt to stop “locust investors” from owning outpatient facilities could actually end up benefitting large PE firms. HBI speaks to sources in Germany to find out more.  [+]
MARCH 9, 2023

Reconciling payor-provider tensions

Relationships between payors and providers can be notoriously tricky. As attendees at the recent IFC conference in Cape Town, South Africa heard, the difference is often over how value is defined - and as providers grow, the balance of power is shifting. [+]
MARCH 9, 2023

How do university hospitals best work with medtech?

The relationship between Big Medtech and university hospitals can be tense. Often, medtech is accused of opaque pricing, of selling Ferraris to physicians, of disguising a short-termist approach based on quarterly sales targets under the banner of partnership. But is there an alternative? Here we talk to Neil Wright, commercial director at Guy's and St Thomas' NHS Foundation Trust, a major London trust, about a different, longer-term approach. [+]
MARCH 9, 2023

KPJ Healthcare exiting Indonesia citing rules imposed on foreign operators

KPJ Healthcare Bhd, Malaysia’s second largest for-profit hospital group by revenue, is to sell its Indonesian hospital operations to rival Columbia Asia Healthcare. This will mark its exit from the country. Luxembourg-based PE firm CVC Capital Partners is reportedly considering buying a minority stake in the group. [+]
MARCH 7, 2023

Covid put mental health in the spotlight - for a while - Infographic

In this week's infographic we look at survey data collected by digital health company Headspace for its 2022 Workforce Attitudes report. According to the data, a majority (71%) of UK employees think their company increased its focus on employee mental health in response to Covid, but only a quarter think their company has retained this focus over the past year. [+]
MARCH 3, 2023

Spire returns to profit, but shares still fall

Shareholders did not give UK hospital group Spire’s full year results a warm reception, despite a return to profit, generally strong financials, and the continued viability of the UK market. HBI talks to market experts to find out why. [+]
MARCH 3, 2023

Ramsay bounces back from sale saga with strong H1 results

The half-year results of Australia-based multinational hospital group Ramsay Health Care were received positively by investors as revenue, profit and EBITDA all saw a jump. [+]
MARCH 3, 2023

Affidea-backed Fortius Clinic buys London Schoen Clinic orthopaedics hospital

Affidea subsidiary Fortius Clinic, which is the UK's largest orthopaedics company, is acquiring Schoen Clinic London, an orthopaedics hospital in central London which is part of Germany-based Schoen Clinic Group. [+]
MARCH 3, 2023

How to plug the brain drain

A substantial part of the global workforce is born, raised and trained in emerging markets - and then promptly leaves to work elsewhere. How can you plug the brain drain? [+]
MARCH 3, 2023

Amazon completes acquisition of One Medical for $3.9bn

Retail tech giant Amazon has completed its $3.9bn acquisition of US primary care chain One Medical, after The US Federal Trade Commission gave the deal the green light. For the first time ever, a big tech company will now be involved in the delivery of clinic-based health care services. [+]
MARCH 3, 2023

Key themes and takeaways from the IFC's Emerging Markets conference

Last month, thought leaders from private healthcare systems across the globe gathered in Cape Town, South Africa, to network, share their findings, and consider how emerging markets can become more resilient. HBI was there, and these are our key themes and takeaways. [+]
MARCH 3, 2023

SE Asia’s pushes to primary care - but volumes and logistics are key

Providers in Southeast Asia have made a pronounced push towards primary care in recent years - but it hasn’t been all plain sailing with logistical challenges and high costs to contend with. Singapore and the Philippines are leading the way, as attendees at the recent IFC conference in Cape Town, South Africa, heard. [+]
MARCH 3, 2023

Government pressure could see mass resignations of Hungarian doctors

The Hungarian government has demonised the Hungarian Medical Chamber (MOK) after the doctor's union warned its members not to sign up to an on-call system for GPs. It sparks fresh concerns of a workforce exodus at a time when patients are increasingly turn to private care - and could be a boon for for-profits. [+]
MARCH 3, 2023

Cloud-based reporting could transform diagnostic imaging

The landscape for diagnostic imaging has fundamentally changed over the last two decades, as imaging has shifted out of the hospital and teleradiology has taken off. Are cloud-based enterprise reporting platforms the answer? We speak to an enthusiastic reporting platform CEO and a more sceptical imaging operator to find out more. [+]
MARCH 3, 2023

Biggest hospital chain in Philippines may IPO for $1bn

Metro Pacific Hospitals, the Philippines' most expansive hospital chain with 12 hospitals and seven medical centres across the country, is considering going public at a valuation of up to $1bn in a revival of a plan that was initially shelved in 2019, according to reports. [+]
MARCH 3, 2023

Shareholders unconvinced by "future Fresenius"

Michael Sen, CEO of multinational healthcare conglomerate Fresenius, finally set out his long-awaited plan for a “Future Fresenius” at the group’s end of year results this week. But is it a radical shake up, or PR puff? HBI investigates why shareholders appear unconvinced. [+]
FEBRUARY 24, 2023

Which countries can claim to have universal health coverage? - Infographic

In this week's infographic we look at OECD data on health coverage across several countries and compare it to survey data on the percentage of people satisfied with the availability of quality health care in the area where they live. [+]
FEBRUARY 24, 2023

Anti private sentiment - winds of change, or just hot air?

This week, reforms in Germany see us taking another look at the plans of Germany’s controversial health minister Karl Lauterbach. He really doesn’t seem to be a fan of for-profit investors! Are the winds of change coming to flatten the investor landscape – or is he full of hot air? [+]
FEBRUARY 24, 2023

Employers driving up Scandi PMI

Despite its reputation for excellent public healthcare and an economy as close to socialist as a capitalist country can be, private medical insurance (PMI) is on the up in Scandinavia. HBI speaks to three operators to find out more. [+]
FEBRUARY 24, 2023

Korian share price plummets after release of 2022 results

Korian, Europe’s largest nursing home operator by revenue, has seen its share price plummet 23% after it published its full-year results on Wednesday, February 22. The results revealed a 62% fall in net profit for 2022, due largely to inflation, but analysts tell us the company faces bigger problems related to the French elderly care sector's scandal, and debt refinancing. [+]
FEBRUARY 24, 2023

Legal challenges may derail German investor crackdown

HBI hears German health minister Karl Lauterbach’s plan to stop “locust investors” from buying up outpatient facilities may be shot down by a double whammy of legal and political considerations. HBI speaks to a Germany-based lawyer and healthcare expert to find out more. [+]
FEBRUARY 24, 2023

Good growth but profit problems for Terveystalo and Attendo in 2022

Elderly care group Attendo and outpatient group Terveystalo, two pan-Nordic giants with over a billion in revenue, struggled to turn a profit in 2022. This was despite strong (organic) revenue growth, set against a backdrop of rising inflation. HBI looks at the newly released results of both groups to find out more.  [+]
FEBRUARY 24, 2023

Interview: Saul Kornik, Founder & CEO, KENA Health and cofounder of HEALTHFORCE

HBI caught up with Saul Kornik, CEO & Founder at South-Africa-based KENA Health, at IFC’s Global Private Health Conference in Cape Town. KENA has an app which allows patients to talk directly to a nurse, doctor or mental health professional using text, voice or video.  [+]
FEBRUARY 24, 2023

Danish outsourcing deal ‘has broad consensus’ 

Last week we reported that some operators had expressed concerns after the Danish government made a new outsourcing agreement with the private hospital sector. This week we hear from operators more supportive of the development, who are keen to share a different perspective. [+]
FEBRUARY 24, 2023

If quality comes at a price, why bother?

How much does quality matter? And how do you prioritise it when it actually costs more? This week HBI was at the IFC conference in Cape Town where there were strong views on the subject. [+]
FEBRUARY 17, 2023

Denmark plans hospital outsourcing hike - and tariff cuts

The Danish government has set out plans to increase its use of the private hospital sector. Those plans will see for-profit operators allowed to treat publicly-funded patients more, but also include significant tariff cuts. [+]
FEBRUARY 17, 2023

Covid led to massive boost in social spending - Infographic

The OECD has released new data on social spending across OECD countries, going right up to 2022. All OECD countries saw a massive increase in social spending as a result of the Covid pandemic, with social expenditure rising from around 20% to around 23% of GDP on average between 2019 and 2020. [+]
FEBRUARY 17, 2023

Dubai Healthcare City and Moorfield Eye Hospital Dubai to expand services

Dubai Healthcare City (DHCC) celebrated its 20th anniversary at Arab Health trade show in Dubai with an agreement with Moorfield Eye Hospital Dubai to expand its services by 20%. [+]
FEBRUARY 17, 2023

Mayo promises to support loss-making London centre

US-based nonprofit American academic medical centre Mayo Clinic has offered "unconditional" financial support - at least until January 31, 2024 - to its London facility, despite the latter losing millions. Meanwhile, Cleveland Clinic continues to expand in the UK capital. [+]
FEBRUARY 17, 2023

Interview: Norberto Jannuzzi, Partner, Patria 

HBI caught up with Norberto Jannuzzi, partner at Brazil based private equity group Patria Investimentos and 'Making smart investment choices' panelist at IFC’s Global Private Health Conference in Cape Town this week. [+]
FEBRUARY 16, 2023

Interview: James Tugendhat, CEO, HC-One

James Tughenhadt, CEO at UK nursing home group HC-One, joined it in the eye of the Covid storm. As the UK wrestles with the largest healthcare workforce strike in recent history, he sat down with HBI to discuss the importance of investing in staff, and his group's  ongoing response to the staffing crisis.  [+]
FEBRUARY 16, 2023

For-profits under fire at massive Madrid health care protest

Several hundred thousand people participated in a protest in Madrid against the regional government’s management of the health care system on Sunday, February 12.  [+]
FEBRUARY 16, 2023

When health care is a risky business

It seems like every week, we print a story or two which reminds us that elderly care – whether residential or homecare – can be risky business. [+]
FEBRUARY 10, 2023

Fresenius to deconsolidate FMC

Michael Sen, the new CEO of multinational health care conglomerate Fresenius, is making preparations to deconsolidate struggling dialysis subsidiary Fresenius Medical Care (FMC). The plans fall short of full divestment and may not be radical enough to appease investors. [+]
FEBRUARY 10, 2023

Over a third of 2022 health care M&A deals were in services - Infographic

M&A advisory firm Ciesco has published a review of global M&A activity in 2022 across the technology, digital, media and health care sectors. In this week's infographics we look at the split across health care sub sectors by deal volume and value. [+]
FEBRUARY 10, 2023

Four Seasons - still for sale, still unsold

The sales process for the remaining bulk of financially troubled UK care home operator Four Seasons' assets has not been quick. HBI speaks to a market expert and to the group's property advisors to ask why the sale is taking so long. [+]
FEBRUARY 10, 2023

Humana’s share price plummets after allegations

Pan-Nordic Swedish care company Humana Group has seen its share price plummet 57% since the end of January, after Sweden’s health care inspectorate temporarily revoked its licence to provide personal assistance in Sweden.  [+]
FEBRUARY 10, 2023

Competition concerns around Portman / Dentex merger

The UK Competition and Markets Authority (CMA) has said the proposed merger between dental groups Portman Dental Care and Dentex Healthcare raises competition issues, and will be investigated further unless suitable undertakings are received. [+]
FEBRUARY 10, 2023

All change at the top for mydentist and DD

Tom Riall is standing down as CEO of UK-based dental group mydentist, and will take up the role of executive chairman from April 1. His replacement has been announced. [+]
FEBRUARY 10, 2023

Convivo facing bankrupcy

The holding company behind German nursing home operator Convivo is filing for bankruptcy. HBI understands low occupancy rates, a shortage of skilled workers and rising energy costs are among the reasons. [+]
FEBRUARY 10, 2023

TFP up for sale

HBI hears UK-based pan-European fertility group TFP is up for sale, and speaks to two well-placed sources to find out more. [+]
FEBRUARY 10, 2023

Linde healthcare sales growth down despite great results

Global chemicals company Linde reported a 1% year-on-year drop in sales growth for healthcare, despite double-digit sales growth in all its other end markets.  [+]
FEBRUARY 9, 2023

Norwegian hospitals struggle in the face of government outsourcing hostility

The Norwegian private hospital market is stagnating because of government unwillingness to outsource care to the private sector – despite growing waiting lists for public patients. [+]
FEBRUARY 9, 2023

Dubai sets out its plans for value-based health care

The Dubai Health Authority (DHA) has further set out its plans to introduce a value-based model of health care across the emirate. HBI spoke to the DHA to find out more at Arab Health. [+]
FEBRUARY 9, 2023

Orpea strikes debt deal as CDC takes charge

After months of scandal and speculation, under-fire French elderly care group Orpea has struck a deal to restructure its debt with the help of new investors including French public sector financial institution Caisse des Dépôts (CDC). [+]
FEBRUARY 3, 2023

Healios expands to meet "crisis" needs

Healios, which provides digital mental health and neurodevelopmental services for young people and children in the UK, is planning major expansion in the UK in the face of unprecedented demand.   [+]
FEBRUARY 3, 2023

Valencia: Not be as hostile to private market as feared

Spanish hospital group Imed has begun building work on its new hospital in Alicante, Valencia. But is it foolish to invest further in a region so hostile to healthcare services? HBI speaks to a Spanish consultant to find out more. [+]
FEBRUARY 3, 2023

Stagnant tariffs stifle innovation and could close small Italian hospitals

The head of digital transformation at Italy’s largest for-profit hospital group tells HBI stagnant NHS tariffs combined with a push towards country-wide electronic health records could force smaller players to close. [+]
FEBRUARY 3, 2023

UK uni hospitals unite to sell abroad

Five of the largest UK university hospitals, with a total revenue of £6.2bn, have come together to compete more effectively in the international market for hospital and medical consulting as the King’s International Consortium (KIC). But will they be able to compete with the big US academic medical centres which dominate international tertiary medicine, or with Korean and Indian players who offer lower cost and more flexible hospital management? [+]
FEBRUARY 3, 2023

Gap growing between public and private pay for doctors and nurses

The gap between doctors pay in the public and private sectors is rising steeply, according to international recruitment agencies. In some cases doctors are getting almost twice as much in the latter. [+]
FEBRUARY 3, 2023

What did we learn at Arab Health?

Four days of enjoyable mayhem milling around 3,000+ stands with 50,000+ attendees taught us a few things about the GCC health care market. [+]
FEBRUARY 3, 2023

Saudi boom creating billion dollar opportunities

Sources at the Arab Health exhibition confirm that the ambitious Saudi 2030 project which will see the country transfer most health care service delivery to the for-profit sector is still on. What are the implications of this? [+]
FEBRUARY 2, 2023

Al Borg eyes franchising and reference markets

Big Saudi lab group Al Borg plans to use franchising to grow rapidly with a consumer-led offer which includes imaging and primary care. It is also constructing two enormous reference labs in Riyad and Jeddah with the aim of seizing a market where Saudi spends billions.  The group is also still eyeing a stock market listing. [+]
JANUARY 30, 2023

DomusVi robustly denies wrongdoing, while Orpea ramps up recruitment

France's third-largest elderly care operator by revenue, DomusVi, tells HBI it robustly rebuts allegations of wrongdoing made in sections of the French press this week. As rival Orpea looks to rebuild its own reputation in the face of serious allegations and fend off its creditors as its deadline looms, HBI chats to DomusVi and two French market experts to find out more. [+]
JANUARY 27, 2023

Not every NHS is created equal

As we update our hospital reports on HBI Intelligence, it becomes increasingly clear that not all NHS systems are created equal. While some systems incentivise the private sector to muck in and help out, in others, private hospitals are seen as costly alternatives to the NHS run by avaricious groups. Take the following four diverse countries: [+]
JANUARY 27, 2023

What's behind Europe's variation in excess death rates in 2022? - Infographic

In this week's infographics we look at monthly excess death rates across EU countries (plus Switzerland) throughout 2022. Surprisingly, the huge variation in excess death rates between countries is not explained by variations in the number of physicians or nurses per capita, nor in variations in health expenditure per capita, nor in variations in the proportion of private expenditure between countries. [+]
JANUARY 27, 2023

Acibadem eyes up UK opportunities

IHH-owned Turkish hospital group Acibadem has opened a contact centre in the Harley Street medical area in the UK and has an eye on market opportunities. HBI speaks to an operator and an advisor to find out more. [+]
JANUARY 27, 2023

HCA launches one number, ambulance backed acute admission service

Hospital group HCA UK has launched a 24/7 concierge and ambulance service to ease acute admissions to its four London hospitals. It says it has seen over 100% revenue growth in the last year as a result. Is it trying to provide an alternative to the crowded NHS A&E departments across the country? HBI investigates.    [+]
JANUARY 27, 2023

Contrasting fortunes for Spanish and Italian hospitals reliant on public payments

Stagnant NHS tariffs are pushing Italian hospitals towards private pay, while in Spain dirt cheap PMI premiums are making the NHS more attractive. [+]
JANUARY 27, 2023

Has the RAD-x sale stalled?

The sale process for pan-European radiology group RAD-x may have stalled, with no statements on progress from any of the parties involved. A well-placed German imaging operator tells HBI that the sale will no longer go ahead, while the group itself is giving nothing away. [+]
JANUARY 26, 2023

Fleeing freelancers cause headache for Dutch elderly care groups

Nursing home employees in the Netherlands are fleeing full-time, permanent jobs in droves in pursuit of more lucrative and flexible alternatives. As operators facing stiff competition from digital freelance platforms poaching their labourforce, HBI speaks to three Dutch market experts to better understand the threat.  [+]
JANUARY 26, 2023

Interview: Barry Mulholland, MBI Healthcare Technologies

Barry Mulholland is founding partner at MBI Healthcare Technologies, a UK digital health company that uses artificial intelligence (AI) to find and fix data inaccuracies in hospital administration systems. He tells us how he believes AI platforms can help solve the elective care crisis. [+]
JANUARY 26, 2023

How investors can tackle emerging market workforce issues

HBI reports this week that the number of licensed UK dentists in January 2022 was down 9.2% compared to the end of 2020. The government’s solution is, unsurprisingly, to encourage dentists from emerging markets to immigrate. However, this can sometimes leave the country of origin with a brain drain – and discourage investors who might otherwise buy a hospital group in that country. [+]
JANUARY 20, 2023

UK government targets emerging markets to end dentist drought

The dentist drought which has plagued the UK market for years looks set to end, as the government prepares to welcome a flood of qualified emerging market dentists. HBI speaks to a market expert to find out more. [+]
JANUARY 20, 2023

German labs accused of lobbying to profiteer from Covid

A group of journalists from German broadcasting companies Westdeutscher Rundfunk (WDR) and Norddeutscher Rundfunk (NDR) and German daily newspaper Süddeutsche Zeitung (SZ) has accused Germany’s private labs groups of lobbying the government in order to protect their Covid testing profits.  [+]
JANUARY 20, 2023

AXA IM debuts in Spain with ESG nursing home deal

Global investment manager AXA IM Alts (the alternative investment arm of AXA IM) has joined forces with Spanish real estate investor Grupo Lar to invest in Spanish health care real estate assets, marking its launch into the Spanish health care market.  [+]
JANUARY 20, 2023

Interview: Richard Storah, CFO, mydentist

HBI chats with mydentist CFO Richard Storah about the UK-based dental group’s history, its plans for 2023 and beyond, and how he sees the post-pandemic market. [+]
JANUARY 19, 2023

German reforms "could kill PE outpatient investment"

German health minister Karl Lauterbach offered a politicised Christmas present in December with an announcement he would stop “locust investors” buying up outpatient medical practices. A German VC source tells HBI this could “kill” private equity investment in German healthcare, and push innovation elsewhere. [+]
JANUARY 19, 2023

German hospital financial crisis could increase imaging / radiology outsourcing

Germany’s for-profit imaging and radiology sectors face multiple economic and regulatory threats, but could benefit from the financial crisis in the German hospital sector. HBI hears hospitals struggling to remain afloat may be more likely to outsource their imaging needs. [+]
JANUARY 19, 2023

EU approves new digi-physical primary care service in Ireland

The EU has given the green light to a joint venture between Centric Health, Ireland’s only major private primary care chain, and Irish Life Health, one of Ireland’s four private health insurers. The joint venture will provide a new digi-physical primary care service to Irish Life Health customers.  [+]
JANUARY 19, 2023

French government-backed CDC could bail out Orpea - for a price

HBI hears that French public sector financial institution Caisse des Dépôts and institutional investors are willing to invest in under-fire French elderly care group Orpea - at a price. The group wants control. With time running out, three France-based analysts share their views. [+]
JANUARY 13, 2023

Public nursing home crisis could lead to privitisations

It’s been a particularly rough start to the year for public nursing homes in France. A staggering 85% of those who took part in a recent survey ended 2022 in the red and the deficit is now leading to calls for reform - and billions in additional funding from the government. HBI talks to two French market experts to find out more about what this means for the market. [+]
JANUARY 13, 2023

CVS mulls splashing $10bn+ on primary care chain

CVS, the largest pharmacy chain in the US, is reportedly considering buying listed primary care chain Oak Street Health for $10bn, as part of its strategy to gain control over the entire patient pathway. Oak Street’s shares rose 33% after the news broke on Monday, January 9, giving the company a market cap of over $7bn at the time of writing. [+]
JANUARY 13, 2023

Spanish group rubbishes rumours of sale

Multiple sources tell HBI Spanish for-profit hospital group Grupo Recoletas is up for sale, and rival HM Hospitales could follow if it hasn't already. Recoletas outright denies there is any process. [+]
JANUARY 13, 2023

End to French labs strike as agreement struck with government

The unions representing French labs groups called an end to their strike on Tuesday, January 10, after reaching an agreement with the government on tariff cuts for 2023. The agreement specifies that up to €250m of labs’ funding can be cut in 2023, but that no further cuts will be made during the year. While this deal ends the immediate problem, HBI hears it has only delayed further conflict. [+]
JANUARY 13, 2023

Sanoptis targets Spain for expansion

Sanoptis, Germany’s second largest ophthalmology group by revenue, is looking to expand in Spain, and beyond, and looking at targets to buy. [+]
JANUARY 13, 2023

Winning the workforce war: Evercare expands training facilities

Many emerging market hospital groups seem a hot ticket at the moment. They have the stability which comes with hospitals, married to far more growth than you might expect in Europe, but the workforce war is making investors think twice. HBI speaks to two experts to learn more about how in-house training is proving to be a solution to workforce woes. [+]
JANUARY 13, 2023

Pihlajalinna sells dental clinics to Hammas Hohde

Pihlajalinna, one of Finland's largest for-profit health and care providers, has agreed to sell all 16 of its dental clinics to up-and-coming pure play dental chain Hammas Hohde. [+]
JANUARY 12, 2023

Korian acquires Spanish mental health provider

French pan-European elderly care giant Korian has acquired Grupo 5, a Spanish provider of mental health services, from Spanish private equity firm Corpfin Capital, after receiving the green light from Spain’s competition authority. The acquisition is part of Korian’s strategy to develop its health care offering and to build a pan-European mental health platform. [+]
JANUARY 12, 2023

HBI’s Team Predictions for 2023

Drawing inspiration from prediction lists that make the rounds this time of year like this one from our sources, we asked some of our team here at HBI to pen down some of their thoughts on what we can expect over the next 12 months and beyond. So here are our top picks for news and trends HBI expects will colour 2023 - across hospitals, labs, elderly care, fertility, dentistry, coronavirus, digitisation and more. [+]
JANUARY 6, 2023

Eight predictions for for-profit health care in 2023

2022 was a tumultuous year for for-profit health care. The year began with a sense of things returning to a new normal, after the major disruption of the Covid pandemic throughout 2020 and 2021. But then, not even two months in, Russia invaded Ukraine, and this quickly led to an energy and economic crisis throughout Europe. For the first time in decades inflation reached double-digit figures across almost every OECD country and the era of near-zero interest rates came to an abrupt end. The second half of the year saw major worries about a looming recession and a potential debt crisis, rapidly falling investment and M&A deal volumes slowing to almost a standstill. [+]
JANUARY 6, 2023

How optimistic are US insurers and operators about 2023?

Accounting and Consultancy firm Deloitte US' industry outlook survey of health care operators and investors reveals what 71 c-suite executives of  health systems and insurance with $500m+ revenue think 2023 will hold. [+]
JANUARY 6, 2023

UK warns off Turkey after deaths

The UK Foreign and Commonwealth Office (FCO) has issued a travel warning following the deaths of 22 British nationals who sought medical treatment in Turkey. The country has recently seen a tsunami of patients taking the trip due to a failing NHS in England and the promise of more affordable cosmetic surgeries. HBI speaks to three Turkey-based analysts to understand whether the safeguarding concerns are warranted and what impact the warnings could have on the medical tourism industry. [+]
JANUARY 6, 2023

Portuguese competition authority goes after labs

Portugal’s competition authority (AdC) has opened an investigation into collusion it suspects took place between several of the country’s major labs groups during the years 2016 and 2022. The accused groups include Affidea, Synlab and Unilabs subsidiaries. [+]
JANUARY 6, 2023

Morocco's largest hospital group's share price tanks after successful IPO

Africa-focused private equity firm Mediterrania Capital Partners has made a successful exit from Akdital, Morocco's largest for-profit hospital group, with the biggest IPO on the Casablanca Stock Exchange since 2008. But despite being heavily over-subscribed, the share price has since fallen by 9%. [+]
JANUARY 6, 2023

Baltic PE investor completes acquisition of Lithuanian wellness clinics

INVL Baltic Sea Growth Fund, one of the largest private equity investors in the Baltic region, has completed its acquisitions of two Lithuanian assets: Wellness provider Nemunas and post-acute care treatment centre chain Eglės Sanatorija. [+]
JANUARY 6, 2023

Atrys offloads 25% of Conversia amid stock slump

Spanish based diagnostic labs group Atrys has sold 24.9% of its stake in regulatory compliance subsidiary Conversia to Arragio NW Segundo for €20m. The move comes after a disappointing year where the firm has seen its share price fall 39%. [+]
JANUARY 6, 2023

Softened Hungarian reform still risks workforce exodus

The Hungarian government has removed from its proposed new health care law the requirement that private doctors would need to work at least 20 hours a month in the public sector. However, the rest of the controversial reform remains unaltered. [+]
JANUARY 6, 2023

If technology is the answer to an elderly care crisis, why is adoption so slow?

The elderly care market is ripe for a technological revolution, but investment is lacking and adoption has been slow. Lars Dahle, founder and former CEO of healthcare tech group Dignio, candidly explains why he feels the market is frustratingly slow to take up what appear to be obvious solutions. [+]
JANUARY 2, 2023

Wide-sweeping reforms could change the face of German healthcare

German health minister Karl Lauterbach has set out detailed reforms which would change the face of German healthcare, sound the death knell for small hospitals, and signal an end to overactivity. [+]
DECEMBER 23, 2022

Reflections on 2022 - deals and delays, revolts and reform

As 2022 comes to end, it seems appropriate to look back at some of the winners of the last year – and those who fared less well in a trying environment. [+]
DECEMBER 23, 2022

VC interest in digital health investment remains strong

Despite economic downturn and inflationary pressure, venture capital interest in healthcare, and specifically digital health, remains strong. HBI chats with UK investment company Albion VC to find out more. [+]
DECEMBER 23, 2022

Orpea rescue plan meets opposition

Under-fire French elderly care operator Orpea could have a shareholder revolt on its hands. Unhappy with plans for massive share price dilution as the group looks to meet its debts, a group of disillusioned shareholders has suggested an alternative and is looking for support. HBI speaks to two French health care experts to learn more. [+]
DECEMBER 22, 2022

PPP and PMI opportunities in Hungarian healthcare in 2023

2023 may be a big year for Hungarian private healthcare as finance minister Mihály Varga has promised PMI and private healthcare providers they will have “a lot to do” in the coming year. [+]
DECEMBER 22, 2022

Out of pocket expenditure compared across Europe - Infographic

Here we look at household out-of-pocket payments - direct payments for healthcare from a household's primary income or savings, where the user pays at the time of purchase. The figures on this chart are displayed as a percentage share of the total current health expenditure for the countries listed. [+]
DECEMBER 22, 2022

Eugin enters Portugal

Spain-based fertility provider Eugin Group, part of Germany-based hospital group Fresenius Helios, is entering the Portuguese market. [+]
DECEMBER 22, 2022

Amanat to merge Sukoon and CMRC

Dubai-based listed health care and education investment firm Amanat Holdings is merging two of its post acute care providers in the GCC region, Sukoon and Cambridge Medical and Rehabilitation Center (CMRC), in the latest move in its plan to build the region's largest post-acute care platform. [+]
DECEMBER 21, 2022

Spire acquires Doctors Clinic Group and expands primary care footprint

Spire, the UK’s largest for-profit hospital group, has acquired Doctors Clinic Group, one of the UK’s only pure play private-pay primary care chains. The acquisition is part of Spire’s plan to build up its primary care offering. [+]
DECEMBER 21, 2022

Blackstone ‘out of the running’ for Care Hospital deal

Multiple news outlets say private equity giant Blackstone is the sole remaining bidder for Indian hospital chain Care Hospital. Sources close to the company tell a different story. [+]
DECEMBER 21, 2022

Pressure grows to restrict investment in German health care

Pressure is growing for a change in German law restricting who can invest in healthcare. If enacted, it could effectively see some outpatient operators “banned”, and restrict who can do telehealth. Is such a development likely? HBI speaks to a trio of German healthcare experts to find out more. [+]
DECEMBER 16, 2022

Care Fertility expands international footprint to Spain and US

UK-based group Care Fertility continues to expand its international footprint following its acquisition by PE firm Nordic Capital in February, with acquisitions in Spain and the US. HBI chats to Alfa Chan, partner at Nordic, to find out more. [+]
DECEMBER 16, 2022

Middle Eastern hospital stocks outperformed European counterparts in 2022 - Infographic

In this week's infographic we compare the stocks of the five largest (in terms of revenue) listed hospital groups in the Middle East with the five largest listed hospital groups operating in Europe. [+]
DECEMBER 16, 2022

At-home testing can help with prevention

In an ideal world you wouldn’t have to pay for preventive care measures such as at-home tests, but with increasing pressure on healthcare services and in particular a lack of funding for preventative measures, increasing numbers of people are doing exactly that. [+]
DECEMBER 16, 2022

Tiny tariff rises will see waiting lists soar in France

French hospitals are in crisis as statutory health insurer (SHI) tariffs have not risen enough to meet rampant inflation. HBI speaks to industry sources to find out the risk to hospitals if this continues. [+]
DECEMBER 16, 2022

Hungarian reforms risk mass doctor exodus to private pay, and abroad

Around 4,500 Hungarian doctors have threatened to resign en masse, after the government announced controversial reforms which include an option to reduce wages based on vague performance metrics. HBI hears this could drive large numbers into Hungary’s growing private sector. [+]
DECEMBER 16, 2022

TVM Capital Healthcare raising outpatient SE Asia fund

Dubai and Singapore based private equity firm TVM Capital Healthcare is raising a new emerging market fund which will invest in non-hospital health care assets in the South East Asia region. The fund has a target of $200m and is expected to make its first investment in the first half of 2023. [+]
DECEMBER 16, 2022

Health care companies must learn to deal with cyber attacks

Cyber attacks on health care are on the rise, and operators focused on preventing attacks need to think more about developing resilience to ensure critical care is protected. HBI speaks to Trevor Dearing, director of critical infrastructure solutions at cybersecurity firm Illumio, to find out more. [+]
DECEMBER 16, 2022

BMA targets ‘unregulated’ at-home diagnostic tests

In October the British Medical Association (BMA) reported it had found cases of private labs groups offering direct-to-consumer at-home diagnostic tests with ‘misleading’ claims about their accuracy, claiming some of these tests are unregulated. The NHS says such tests risk overburdening GPs with patients who have received misleading information. HBI speaks to Kevin Dryhurst, CEO of private labs operator DAM Health, who argues privately provided direct-to-consumer tests have a role to play in providing some of the preventive care which the NHS is failing to deliver. [+]
DECEMBER 16, 2022

Quick departures always raise questions

When a CEO steps down, journalists raise half an eyebrow. Is this a planned departure, in the works for months, with a readymade successor ready to step out of the wings? Or does it have a whiff of a hastily scrabbled jump (with, or without a push) suggesting possible malcontent, ill will, a clash of styles, or something else? [+]
DECEMBER 9, 2022

UK task force boost to NHS outsourcing

The UK government has set up a task force to look at increasing NHS outsourcing to the private sector, as part of its plan to increase capacity and bring down the elective care waiting list. Could this provide a boost for for-profit providers, and will it tempt them to do more NHS work? [+]
DECEMBER 9, 2022

FMC CEO leaves after just two months in post

Global renal disease specialist Fresenius Medical Care has parted ways with its new CEO just months after announcing her appointment, and scarcely two months after she took up her post. HBI looks at the surprisingly quick turnaround and tries to work out what happened. [+]
DECEMBER 9, 2022

Due diligence begins for KIMS sale

KIMS Health, one of the largest hospital groups in South India, is up for sale. Due diligence has begun after a first round of bids which HBI understands included India's fourth largest operator Max Healthcare, as well as big international PE investors Blackstone and CVC Capital. Binding bids are expected next month. [+]
DECEMBER 9, 2022

How do private providers view UK opportunities? - Infographic

How confident are UK providers about different payor models? The Independent Healthcare Providers Network (IHPN) has released its third annual industry barometer, showing how independent providers view opportunities in the UK. [+]
DECEMBER 9, 2022

Opportunity for Spanish REITs to cash in on elderly care

Spain is facing a serious shortage of nursing home beds, and appetite to invest in Spanish healthcare property is on the rise. With REITS looking to plug the long-term housing gap, HBI speaks to Alberto Fernandez of Madrid-based REIT Healthcare Activos to find out more.  [+]
DECEMBER 9, 2022

Chris Toth, CEO, Varian, a Siemens Healthineers Company

In April last year, medical device giant Siemens Healthineers acquired Varian Medical Systems in one of the largest all cash MedTech transactions in history. HBI catches up with Varian CEO Chris Toth to find out more about the deal, and Varian’s plans for the future.  [+]
DECEMBER 9, 2022

Ribera Salud buys big in Murcia

Spanish hospital group Ribera Salud has acquired the largest private healthcare group in Murcia, consolidating its presence in the region. [+]
DECEMBER 9, 2022

New regulations target Turkish health tourism agencies

Turkey is taking steps to regulate its health tourism sector. Agencies acting as a go-between for tourists and health tourism operators will need to submit two separate licences to two ministries. [+]
DECEMBER 9, 2022

Viamed chooses Synlab to run in-house labs

Spanish hospital group Viamed has chosen Synlab to run its in-house diagnostic labs in many of its hospitals, meaning less outsourced business for Eurofins. [+]
DECEMBER 9, 2022

Pressure piles on Dutch government to act as elderly care groups risk bankruptcy

Elderly care in the Netherlands is at breaking point - fending off high costs, low margins, and perilously poor staff retention. HBI speaks to a market expert who is confident the government will act to stave off bankruptcies. [+]
DECEMBER 2, 2022

Don't believe the hype?

Why bother with telehealth? For all the huge sums raised, the high valuations and in some cases the spectacular IPOs, it's actually quite rare for them to make any money. Or latterly, for them to hold their share prices. Teladoc doubled its revenue, and Babylon quadrupled its revenue in 2021 - yet both have seen share prices drop 90% over the last two years. What gives? [+]
DECEMBER 2, 2022

Affidea subsidiary IMI denies cartel involvement, whilst Unilabs accepts fine

Portugal’s competition authority has accused the country's four largest teleradiology groups of involvement in a cartel for public hospital teleradiology tenders during the years 2015 to 2018. The companies involved include Unilabs subsidiary Dr. Campos Costa, which has admitted involvement, and Affidea subsidiary Imagens Médicas Integradas, which denies involvement. [+]
DECEMBER 2, 2022

UK homecare group Optimo Care expanding

UK homecare provider Optimo Care is pursuing an aggressive growth strategy through acquisitions. It has just bought Colchester-based complex care provider My Life Choice. This follows the acquisition of Mayday Homecare, a provider of homecare services in Bolton and Bury, in August. The company plans to make several more acquisitions in 2023. [+]
DECEMBER 2, 2022

Interview: Jalil Allabadi, co-founder of MENA's biggest digital health platform Altibbi

MENA-based Altibbi has come a long way from its humble 2008 beginnings as a printed medical dictionary. HBI chats with co-founder Jalil Allabadi about the region’s largest digital health platform. [+]
DECEMBER 2, 2022

Spanish hospitals bringing labs in-house

Major Spanish hospital groups are bringing their diagnostic labs testing in-house, in a trend which stands in direct contrast to what is happening in other countries. [+]
DECEMBER 1, 2022

Penta buys one for the future in Poland

Czech-Slovak investment group Penta has acquired Polish hospital group Grupa Nowy Szpital (GNS). With this, Penta is making further inroads into the tricky Polish market. HBI asks, given the state of the Polish market, is now really the right time to buy? [+]
DECEMBER 1, 2022

Spanish PMI premiums set to soar

Spanish PMI is set for a massive price hike, as hospitals facing increased demand struggle to make ends meet on current insurer tariffs. [+]
DECEMBER 1, 2022

MidEuropa buys Optegra

UK, Czechia and Poland-based ophthalmology company Optegra has found a buyer - PE firm MidEuropa has reached a definitive agreement to acquire a majority stake while management and current owners H2 will retain minority stakes. [+]
NOVEMBER 29, 2022

Interview: Ryan Richards, Knight Frank

UK property consultancy and estate agency Knight Frank has released its annual report on the state of the UK’s elderly care sector. We speak to lead author, senior analyst Ryan Richards, about the sector’s recovery from Covid, the impact of the cost of living crisis and inflation, and reputational risk. [+]
NOVEMBER 27, 2022

Orpea pledges to pay in full as restructuring rumours continue

French elderly care giant Orpea continues to hit the headlines for all the wrong reasons. Over the last week, dozens of facilities were raided by the French authorities, talk continues to be rife about restructuring and potential exits, and contrary to previous assertions HBI understands the group now intends to pay back the full €56m owed to the state. [+]
NOVEMBER 25, 2022

Time to get heretical?

This week saw the leaking of minutes from a September meeting of senior NHS Scotland managers in which a serious suggestion was made that the founding principle of free at the point of use care for all be abandoned. [+]
NOVEMBER 25, 2022

Bill Gates-backed Evercare sells Kenyan hospital stake

US PE Evercare Health Fund has sold its 1bn Kenyan shilling (€7.8m) stake in the Metropolitan and Ladnan hospitals in Nairobi. The PE fund is owned by the Bill & Melinda Gates Foundation and the International Finance Corporation (IFC). [+]
NOVEMBER 25, 2022

Simplyhealth launches £60m VC fund undaunted by poor economy

Insurance plan group Simplyhealth have launched a £60m VC fund for early-stage healthcare start-ups in the UK. Its CEO says his firm is well placed to invest sensibly due its contacts, and the current state of the economy. [+]
NOVEMBER 25, 2022

Amazon launches telehealth platform

Amazon has launched its own telehealth platform, Amazon Clinic, on which patients can connect with health care providers in their area and book appointments. [+]
NOVEMBER 25, 2022

Economy makes Fresenius breakup unlikely

Speculation persists over the break-up of bloated conglomerate Fresenius by new CEO Michael Sen, but HBI hears that looks increasingly unlikely given the current economic climate. So, what are Sen's options? HBI talks to a well-placed investment banker to find out more. [+]
NOVEMBER 25, 2022

Scanmed buys Ars Medical

Polish multi-specialty healthcare company Scanmed has bought Polish oncology firm Ars Medical. [+]
NOVEMBER 25, 2022

Babylon CEO admits to stock market disaster

Ali Parsa, the charismatic healthcare entrepreneur who founded digital health company Babylon Health, has branded the company’s stock market performance an “unbelievable, unmitigated disaster” in an interview with the Financial Times. [+]
NOVEMBER 25, 2022

Scotland NHS bosses discuss making wealthy pay for care

Scotland NHS bosses have suggested making some wealthy patients pay for care, in what would amount to an abandonment of the NHS’ core founding principle of free at the point of use care for all. [+]
NOVEMBER 25, 2022

Optegra sale on hold

HBI understands from multiple sources that the sale of UK-based ophthalmology group Optegra is on hold. [+]
NOVEMBER 22, 2022

Is Orpea's bold plan enough to save the business?

Plagued with well documented allegations and investigations, and saddled with €9bn+ debt, on Tuesday Orpea presented its plan for recovery to the creditors who last month gave it just four months to clean up its finances. Has it done enough? We speak to a range of market experts to find out if it can weather the storm.  [+]
NOVEMBER 18, 2022

The current state of interest and inflation rates - Infographic

The current macroeconomic environment is slowing down health care services M&A, as inflation eats into margins and debt financing dries up. In this week's infographic we look at the state of interest rates and inflation rates in major economies across the world. [+]
NOVEMBER 18, 2022

Going somewhere new? Go digital

There's an air of confusion around digitalisation / telehealth. Everyone knows it is important. But as a standalone prospect, it takes time to make a profit. Babylon's stock crash, and Kry's withdrawal from Germany and continuing layoffs do little to dispel digital doom, and many patients insist on a hybrid model of care. But for healthcare companies looking to expand to pastures new, going digital can offer a cheap way to test the water. [+]
NOVEMBER 18, 2022

Scottish dental group "up for sale"

HBI hears that Scottish dental group Clyde Munro is about to go up for sale, and speaks to an operator and an investor source to find out more. [+]
NOVEMBER 18, 2022

Affidea expands Spanish offering with further acquisition in Madrid

European imaging and cancer treatment provider Affidea has acquired outpatient specialist Clínica Algete in Madrid. [+]
NOVEMBER 18, 2022

EDG sale "in early stages"

HBI understands that the sale of pan-European and dentist-led European Dental Group (EDG) has begun, and is in its very early stages.  [+]
NOVEMBER 18, 2022

Portugal's heavy hitting hospitals look to expand

As the Portuguese NHS continues to flounder, hospital groups such as Luz Saude and CUF are looking to expand their coverage into untouched regions in the country. [+]
NOVEMBER 18, 2022

Macroeconomic conditions dampening debt financing but not equity financing

Macroeconomic conditions are not causing deal flow to halt completely. HBI hears that health care M&A deals financed entirely with equity are still taking place, whilst a