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M&A/IPOs

 

Largest lab group in GCC likely to list

Al Borg Diagnostics with 64 labs across 8 countries in GCC and Africa and a dominant position in Saudi Arabia, its home market, looks set to finally list in 2022. We speculate (wildly!) on valuation.

KKR mulls post-takeover Ramsay sale-and-leaseback deal

The consortium led by private equity firm KKR is reportedly planning sale-and-leaseback deals should its proposed US$15bn takeover of multinational hospital group Ramsay Health Care prove successful, and is looking for suitors.

Mediclinic rejects £3.4bn takeover bid from consortium led by largest shareholder

Multinational South African hospital group Mediclinic has rejected a proposal for a possible cash offer of £3.4bn for the company’s entire share capital. The proposal came from a consortium comprising Mediclinic’s current largest shareholder, South African investment holding firm Remgro, and Mediterranean Shipping Company (MSC), the world’s second largest container shipping provider.

IDH sells DD Group

The owner of UK-based dental specialist IDH, Palamon Capital, is selling DD Group (formerly Dental Directory), its UK and Ireland-based dental and medical aesthetics distributer and service provider. Palamon says this concludes phase one of its investment plan to return IDH to a pure-play dental service.

Vitaldent acquisition shows shift to aesthetics

Spanish / Italian dentistry network VitalDent has incorporated its latest acquisition, 73 clinics previously owned by Smysecret. The acquisition marks a deliberate move to aesthetics targeting the 18-35 age group and adds significantly to its burgeoning business.

Althea to be sold to Inframedica Sarl

Private equity firm Permira has agreed to sell healthcare equipment service provider Althea to oncology platform Inframedica Sarl, which is owned by infrastructure investors F2i and DWS.

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.

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