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Australia

 

Ramsay deal may unblock

Media reports suggest that Ramsay Santé, the 53%-owned continental European arm of Ramsay Health Care, may relent and allow KKR to carry out due diligence which would enable it to complete on its AU$88 a share bid. But investors were not convinced with the shares languishing at AU$69.84 at close of play.
July 29, 2022

Ramsay may sell French subsidiary to ease the path for KKR takeover

The Australia-based multinational hospital group Ramsay may sell its share in French subsidiary Ramsay Santé so private equity firm KKR’s proposed AU$88 per share takeover of the group doesn't come under fire from France’s competition authority – but this raises issues with the deal.
July 14, 2022

KKR going ahead with Ramsay bid

Private equity firm KKR has reconfirmed its AU$88 per share offer for multinational hospital group Ramsay Health Care after completing due diligence on the company last week, HBI understands. It will now begin due diligence on Ramsay’s 52.79% stake in its subsidiary Ramsay Générale de Santé, which could take another few weeks. The deal still has to be approved by the French Competition Authority (FCA), which could take issue over the fact that KKR owns a 43% stake in Elsan, Ramsay Santé's largest competitor in France.
May 20, 2022

Bupa Australia accuses Ramsay of strategic price hikes as Ramsay terminates partnership

The Australian branch of multinational hospital giant Ramsay Health Care has terminated its partnership with insurer Bupa, meaning Bupa-insured patients in Australia will have to pay out-of-pocket for its care. Bupa Australia subsequently accused Ramsay of “unreasonably high" price increases, claiming this was done to increase the group’s value in light of its on-going sale process. Meanwhile, Ramsay has reported poor financial results and analysts from investment bank Citigroup have said limited additional value could be squeezed out of the group, and that a higher bid than KKR's is therefore unlikely. 
May 10, 2022

Lim and others eye up IVIRMA

Singapore billionaire Peter Lim is said to be in talks to buy IVIRMA, the Euro-American fertility player where big private equity is expected to bid high. HBI understands other bidders may include KKR, Carlyle and Cinven.
March 10, 2022

Covid disruptions reduce Ramsay profits by 30%

Australian multi-national hospital group Ramsay saw steady sales but sharply decreasing earnings in the last six months of 2021. The company says this was due to Covid disruptions, whilst underlying demand for healthcare services remains strong.
February 25, 2022

Virtus takeover could lead to M&A push in Europe

Australia-based listed fertility specialist Virtus Health, which also has a footprint in Ireland, Denmark, the UK and Singapore, is the subject of a takeover bid. HBI speaks to an operator source to find out more about the prospects of one of the largest international fertility groups delisting.
January 20, 2022

Ramsay share price slumps after elective surgery ban in Australia

International hospital operator Ramsay’s share price fell 5.7% last Thursday, following the announcement that the Australian state of Victoria was reintroducing restrictions on non-urgent elective surgeries. On Friday, New South Wales followed suit.
January 13, 2022
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