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
