HBI Deals+Insights / M&A/IPOs

After Christmas come the New Year sales

Christmas is fast approaching, and hot on its heels, the New Year sales. Here at HBI, we like a high street deal as much as the next man, but it’s what’s in the healthcare services pipeline in 2020 that’s caught our eye today.

And it looks like there’s a lot to look forward to next year with dozens of groups either already in a process, or about to be. Here’s our pick of the (HBI) pipeline’s five groups most likely to sell.

HBI Intelligence members can click here for the full HBI pipeline, which is continuously updated by our research and journalist team, and which has just expanded to incorporate new investor types.

Diaverum

First round bids for the global dialysis provider have been submitted already, with the company being sold off €190m+ of EBITDA. Owner Bridgepoint hasn’t closed the door on an IPO completely, however. We’d expect a resolution to this in H1 2020.

Laborizon

This substantial French lab player is selling a majority stake, with IMs sent out way back in August. Natixis is handling the sale with an expected valuation of €410-490m.

Regina Maria

Sources close to the company are remaining tight lipped about the sale of this Romanian healthcare group, but Italian hospital group Humanitas is understood to be among the bidders – though it may find a 13-14x multiple a little too steep for its liking.

BMI Healthcare

As exclusively revealed by HBI last month, the number six player in the UK private hospital market Circle Health, and its PE backers, are interested in buying BMI in a process we heard was ‘pretty advanced’.

Everlight Radiology

London-listed investment firm ICG is selling its UK-Australia teleradiology platform and has appointed Rothschild Australia to help it find a buyer. The exit by ICG might seem a bit premature after less than three years but teleradiology is a hot, high-growth sector so normal PE timelines might not apply.

For the latest on what’s happening with groups from Aleris to Zentrum Gesundheit, keep an eye on the HBI pipeline in 2020, or if you are not an HBI Intelligence or Connect member, why not arrange a demo and see what you are missing?

We would welcome your thoughts on this story. Email your views to David Farbrother or call 0207 183 3779.