Bigger than you’d think!
We’ve just compiled the first comprehensive list of all quoted private healthcare service operators in Emerging Markets. It tells you three things.
- Listed groups are surprisingly dominant in India, China, the wealthier Middle East, Thailand and Singapore. Private equity is a much smaller investor in Emerging Markets than it is in Europe or the USA.
- The list sector is surprisingly large. In total we’ve identified 41 listed groups from these regions. They range from IHH and the big South African groups down to regional hospital consolidators such as Banmédica in Chile to specialists such as Concord, which has 140 imaging centres in public hospitals in China. These 41 have an aggregate market cap of $71bn. We’ve then added all the big European and US groups penetrating Emerging Markets – groups like Air Liquide and Fresenius.
- Most quoted groups are happy to concentrate on their home market, which will typically grow by 10-20% a year in value. But there are plenty of examples in labs, hospitals and specialist medical areas that anticipate the development of extensive international chains in the next decade.
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We would welcome your thoughts on this story. Email your views to Francesc Milla-Martinez or call 0207 183 3779.
