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HBI News Round Up, Friday 27th September 2024

In this HBI News Round up we cover one of India’s top for-profit hospital providers Aster DM Healthcare launching a new hospital project in India, the Ministry of Health in Spain restricting who can perform cosmetic surgeries, the UK’s second largest private ophthalmology group Optegra’s latest NHS eye clinic, Spanish for-profit hospital group Grupo Recoletas buying two new fertility clinics and Dutch-African CarePay raising €10 million to expand.  We also look at French drugmaker Sanofi receiving two bids for its consumer health unit, PE firm LeapFrog investing $120-30 million in India’s healthcare and Bulgarian courts overturning healthcare regulations. 

Alan’s $4 billion valuation signals growing investment opportunities in France’s digital health sector

French digital health insurance startup Alan raised $193 million in a Series F round led by Belgium's second-largest bank Belfius, marking the largest European insurtech deal this year, Bloomberg reported. The investment raises Alan's valuation to $4 billion, up from its $2.9 billion valuation in 2022. Alan reported $388 million in 2023 revenue and aims for 40% growth in 2024.

FREE BLOG The role of the private sector in healthcare systems

This week I attended a meeting of the European Health Policy Group (EHPG) at the London School of Economics. There was a panel entitled ‘Private sector in health care - opportunity or fallacy?’ on which HBI’s founder Max Hotopf spoke.

Malaysia emerges as a preferred hub for healthcare PE investments

The Southeast Asian country Malaysia has recently witnessed a surge in private healthcare investments. This is particularly evident in the country’s top for-profit hospital provider IHH Healthcare’s latest acquisition of Island Hospital, a 600-bed private facility in Penang, Malaysia, for £970 million from the private equity (PE) firm Affinity Equity Partners. The Malaysian healthcare sector ripe for healthcare PE investments.

As healthcare cyber attacks rise, what key questions should PE investors ask?

On September 20th, Reuters reported that Star Health, India’s top health insurer, suffered a massive cyber attack, exposing sensitive data—names, addresses, phone numbers, and medical records—of over 31 million customers on Telegram chatbots. With a market capitalisation exceeding $4 billion, Star Health and Allied Insurance has a significant presence in the industry. Star Health has not responded to an HBI request for comment.

Interview: Phil Frame, NorthEdge

NorthEdge is a regionally focussed UK PE firm, headquartered in Manchester and with presence across the North and Midlands. It invests in lower mid-market companies across the healthcare, technology and business services sectors, and currently has £900m of assets under management.  In an interview with HBI, Phil Frame, Partner and Healthcare Investment Lead at NorthEdge, discussed some of the areas of healthcare innovation the firm is currently most excited about, and the abundant opportunity in the UK regions.

Interview: Dr Oliver Harrison, Koa Health

Dr Oliver Harrison is the founder and chief executive of Koa Health, a UK-headquartered digital mental health company. He spoke to us about what makes Koa Health different and about the company’s new employer-funded mental health platform which he describes as the culmination of the work the company has been doing to date.

Czech government transfers responsibility for emergency care to insurance companies

The government of Czechia, commonly known as the Czech Republic, has approved a major amendment to the Act on Health Services, a law that regulates the provision of healthcare in the country. Several changes to the Act have been made, including a transfer of responsibility for funding and organising emergency care from the country’s regional authorities to healthcare insurers.

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