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Portugal

 

Chinese buy Espirito Santo Saúde

Chinese conglomerate Fosun International has won the four-way bidding war for the second largest Portuguese hospital chain, Espirito Santo Saud. Its Portuguese subsidiary, Fidelidade, the largest insurer in Portugal, has bought a 51% stake in ESS held by Rioforte and Healthcare Investments for €5.01 a share. Fosun later announced that it has bought shares with 96% of voting rights for a total of €460m.
October 17, 2014

UnitedHealth races to the wire for ESS

UnitedHealth has upped its bid for Portuguese hospital chain Espirito Santo Saude to €5 a share. That follows an announcement that Rio Forte and Novo Banco, who together own Espirito Santo Health Care Investiments, which has a 51% stake in ESS, would accept the €4.85 a share bid from Fidelidade, the largest Portuguese insurer, which is owned by Chinese conglomerate Fosun.
October 8, 2014

FREE BLOG More proof that healthcare services is becoming international

If the trans-continental race to buy Espirito Santo Saude, with bidders from China, Mexico, USA and Portugal, isn't proof enough of the increasing internationalisation of the market for healthcare services take a look at the bidders for to build and operate the big Slovak PPP.
September 30, 2014

World goes mad for Espirito Santo Saúde

Portugal’s second largest hospital chain has received multiple bids from companies based in China (Fosun), Mexico (Angeles), the USA (UnitedHealth) and Portugal (Jose de Mello) since an auction frenzy developed ten days ago. Sometimes, bidders have upped the stakes several times in a week. As of September 29, Chinese conglomerate Fosun, bidding through Filedad, Portugal’s largest insurer, was top dog, having offered €4.82 for ESS, valuing the chain at €460.5m. What is going on?
September 29, 2014

Jose de Mello swoops on Espirito Santo Saude

No sooner had Espirito Santo Saud, the second largest Portuguese hospital chain accepted an offer from Angeles Grupo, owner of the largest Mexican hospital chain, than Jose de Mello, owner of the largest Portuguese hospital group, has capped the bid. Observers are waiting to see if Chinese giant Fosun or United Health, owner of Brazilian insurer Amil, will enter the fray.
September 12, 2014

Will Portuguese competitors enter the race for ESS?

Portuguese sources are speculating that Jose de Mello Saude, the largest Portuguese hospital chain, and/or Amil (United Health) owner of the third largest chain, may join a bidding war for Espirito Santo Saude, the second largest and quoted Portuguese hospital chain. The ESS board is mulling a €4.3 a share, offer from Grupo Empresarial Angeles, a hotels to finance conglomerate, which makes the lion’s share of its sales from Grupo Ángeles Servicios de Salud, the largest Mexican private hospital chain. We look at the prospects.
September 5, 2014

Permira to build new imaging services provider

Private equity house Permira is backing a merger between Mesa Medical, a Pan-European supplier of third party maintenance and used imaging kit, and Asteral, which is the largest provider of managed equipment services around imaging equipment in the UK. The deal will alarm suppliers like Siemens, GE and Philips.
August 1, 2014

Espírito Santo Saúde for sale

Lisbon-listed ESS, the second-largest Portuguese hospital group, to be sold as it largest shareholder, with 51% of the company, Rioforte Investments, is set to file for creditor protection, following the bankruptcy of its Luxembourg-based holding company Espirito Santo International SA.
July 24, 2014

Euromedic appoints HSBC

Imaging services provider Euromedic has appointed HSBC to review the business. Bankers expect this to lead to a sale this autumn.
July 24, 2014
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