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ICADE buys Vedici’s hospitals

The French REIT ICADE Santé is to purchase 17 hospitals off the operator Vedici for €651m. This single deal equals the total spend on French healthcare real estate on 2014, says Stéphane Pichon, managing partner at Your Care Consult. We hear from an analyst the net yield is 6.4%.
July 23, 2015

FREE BLOG Your two retirements…

How does assisted living fit into elderly care? Adam Scott, at consultancy Mansfield Advisors, reckons many elderly go through two retirements. The first at 60 plus is a continuation of your middle-aged lifestyle. The second in your mid to late seventies, perhaps after illness, is closer to your children. This is where most assisted living options play.
July 17, 2015

Colisee does a mini Orpea

Fresh from last month's Italian acquisition, Groupe Colisee, the fifth largest French nursing home group, is sniffing around Spain. It has also set up a Chinese JV, all since it was bought by private equity house Eurazeo PME in July 2014.
July 17, 2015

Canadian pension fund Investissements PSP takes 14% stake at Korian

Canadian pension fund Investissements PSP has acquired a 14% stake in Korian, the big Pan-European nursing home operator having bought shares from Batipart, Covea and ACM Vie on 10 July. In December 2013, another Canadian pension fund, CPPIB, bought a 15% stake in rival nursing home chain Orpea.
July 17, 2015

French private hospitals to sue public funding bodies

The association Fédération de l’Hospitalisation Privée (FHP-MCO) is encouraging private hospitals to sue France’s local public funding bodies, the Agences Régionales de Santé (ARSs), for their bias toward public hospitals in the allocation of funds. The approach seems to be working.
July 6, 2015

Merger to create France’s second largest group

Expect a merger between French hospital chains Vedici and Vitalia to be announced by mid-July 2015. The deal will see CVC buy Vitalia from Blackstone, creating France’s second largest hospital chain with sales of around €1.4bn. Meanwhile, Ramsay/Generale de Sante is set to buy a large Lilles hospital chain.
July 1, 2015

Eurofins buys Biomnis

As forecast here, Eurofins Scientific is to buy French reference lab Biomnis and is also acquiring Bio-Access, a chain of 30 labs across France. The Biomnis acquisition marks the entry into the sector of a quoted industrial which is widely seen as an aggressive acquisition machine.
June 26, 2015

MESA moves into France

MESA has bought French diagnostic and imaging provider Sigil. Pantheon Healthcare Group’s MESA says the acquisition is in line with its core business activities of Multi-Vendor Service (MVS) and Managed Equipment Service
June 26, 2015

Cinven’s €3 billion bet on labs

Cinven has placed a €3bn bet on the European diagnostic laboratory space, by agreeing to pay a higher than expected €1.85bn for synlab Group, a multiple of just over 12 times current EBITDA. It will combine synlab with Labco to create a truly Pan-European lab group with pro-forma 2014 sales of just over €1.4bn, nearly twice that of its nearest rival. But why bet €3bn on a sector where tariffs are falling and operators have no control over pricing? And could the French authorities block the deal?
June 26, 2015

Eurofins to buy Bio-Access – will Biomnis be next?

As forecast here, Eurofins Scientific is to enter the European medical diagnostic lab sector with the acquisition of Bio-Access. But the deal has little rationale, unless Eurofins also buys French reference lab Biomnis.
June 19, 2015
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