M&A/IPOs

 

Veterinary fundamentals as strong as human healthcare, with more consolidation opportunities and less regulatory risk

Speakers at HBI’s first ever panel on the veterinary sector made a compelling case for the sector’s investability to HBI 2024 attendees. Demand is resilient and growing, supported by a growing number of pets as well as greater expenditure from pet owners as the range of services expands. Demand growth is also supported by greater price flexibility than human healthcare typically has in most European countries. And almost all the continent’s markets remain unconsolidated. 
June 26, 2024

HBI News Round Up, 21st June 2024

In this HBI News Round Up, we look at the outcome of Dutch primary care chain Co-Med’s bankruptcy hearing in the Netherlands, French real estate investor Transitions Europe’s entry into Spain’s care home sector, PE firm Columna Capital's latest €290m raise, Spanish hospital group Ribera Salud’s acquisition of Covadonga Hospital in Spain, the extension of the Greek government-backed EquiFund-2 programme to finance life sciences and healthcare start-ups, real estate investor PGIM Real Estate’s acquisition of UK senior housing provider Signature Senior Lifestyle, the first strike by public sector healthcare workers in Sweden in 16 years, and pan-Asian hospital group IHH's desire to enter Vietnam and Indonesia. 
June 21, 2024

Healthcare investment “through the bottom of the cycle” — Goldberg (Rothschild)

At last year’s conference Hedley Goldberg, Managing Director at multinational investment bank Rothschild, predicted healthcare M&A activity would begin picking up again in Q4 2023 or Q1 2024. But we’re now halfway through 2024 and there are still very few deals above €500m taking place. Goldberg is confident, however, that we have now passed through the bottom of the cycle.
June 20, 2024

Dutch aesthetics chain Faceland exploits sector’s M&A opportunities by buying Italy’s largest chain Juneco

Pan-European Dutch aesthetics chain Faceland is taking advantage of the ample consolidation opportunities in Europe’s rapidly growing aesthetics sector by buying Juneco, Italy’s largest aesthetics chain. This marks Faceland’s first foray into the Italian market and will help the group achieve its plan to grow to over 50 clinics across its five European markets by the end of 2024.
June 19, 2024

Paras Health expected to file for $120 million IPO

Northern India-based hospital chain Paras Health is set to file a Draft Red Herring Prospectus (DRHP), or offer document, with the Securities and Exchange Board of India (SEBI) by the end of June for an initial public offering (IPO) worth INR 1000-1200 crore (~$120-144 million) according to India’s The Economic Times.
June 17, 2024

NMC Health considering sale and IPO

NMC Health, the UAE’s largest private healthcare provider, has appointed investment bank Rothschild to advise on options for its shareholders. The options under consideration include a sale and an IPO. The company was previously listed on the London Stock Exchange before it was placed into administration in 2020.
June 14, 2024

KKR makes AI investment in India’s Infinx Services

AI continues to make inroads in healthcare. Digitalisation and the use of AI were prominent topics in nearly every panel discussion at the recent HBI 2024 conference, held from June 10 to 12, with 580 delegates from 40 countries in attendance.
June 14, 2024

UK’s CMA launches inquiry into veterinary sector

The Competition and Markets Authority (CMA) has announced the launch of a full-scale investigation into the UK’s veterinary sector, following a sizeable response to its initial review in September 2023. The initial review generated 56,000 responses from pet owners and professionals, prompting the authority to launch a market investigation.
May 23, 2024
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