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HBI Spotlight

 

The deals you can expect to see in the next two months

M&A slowed to a trickle during COVID but the next six weeks will see a flood of deals. HBI examines the deals that are about to happen, the companies looking to IPO, and reviews a handful of deals that remain resolutely on hold for the moment.
May 21, 2021

Mitsui mulls buyout of $13bn IHH Healthcare

Japanese conglomerate Mitsui is considering a buyout and de-listing of IHH Healthcare, the $13.4bn-valued pan-Asian hospital operator in which it holds a 32% stake, according to reports. Its share price has declined in the last five years amidst perennial problems in Turkey and India.
May 13, 2021

German hospitals cut staff as volumes fail to recover

Germany's third-largest hospital group Sana Kliniken has announced the layoff of over 1,000 employees, while number one Fresenius Helios is also cutting staff, as patient numbers fail to recover from Covid. Volumes are still lower than in 2019, Dr. Boris Augurzky tells HBI. 
May 6, 2021

EU countries to pump €50bn into health and social reform recovery plans

EU countries have already earmarked over €47bn euros to spend on health care from the €672bn Recovery and Resilience Facility (RRF), the continent's centrepiece of COVID-19 recovery. Digital innovation, primary care and long-term care are clear spending priorities across the board. We should know the full allocations next week.
April 29, 2021

NMC tells its $6.4bn creditors to take it over, or lose money

Creditors of in administration GCC-based NMC Health face a stark decision between now and May 28. Buy us, or face a 'distressed sale' - and possible liquidation. Accepting the deal will see creditors losing out on billions of dollars in the short term. But not accepting the deal could be worse.
April 15, 2021

Synlab to IPO in Frankfurt

Europe's largest lab group Synlab will list on the Frankfurt Stock Exchange in Q2 after releasing an intention to float document on Wednesday morning. The group says revenue will grow 17% this year to €3bn+ revenue and that COVID-19 revenue will only continue to grow.
April 7, 2021

EQT buys Partners’ stake in Cerba

EQT has agreed to buy Partners Group's stake in French lab group Cerba for a ball-park enterprise value of €4.5bn, making it a 12x multiple on the group's 2020 EBITDA.
March 31, 2021

Lifebrain for sale as EBITDA for lab groups near doubles

Italian lab group Lifebrain is the latest to take advantage of swollen revenues and profits in the lab sector with owner Investindustrial appointing Goldman Sachs and JP Morgan to explore a sale. Meanwhile, COVID-19 testing across Europe led to a near doubling of EBITDA for the largest players in the third quarter of 2020.
March 25, 2021

NMC Health’s Aspen disposal could end with propco takeover

In-administration GCC group NMC Health's attempt to offload UK hospital chain Aspen Healthcare looks to have stalled. An advisor says the opco could be taken over by propco owner NorthWest Healthcare Properties, echoing what happened to the largest operator BMI Healthcare just two years ago.
March 18, 2021
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