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EBITDA multiple

 

TPG to buy teleradiology group Everlight Radiology?

US private equity firm TPG is rumoured to be the frontrunner in the sale process of multinational Australian teleradiology group Everlight Radiology. The acquisition, if it goes ahead, could reportedly value the group at over A$1 billion (~$0.7 billion USD), representing an EBITDA multiple of over 14x.

Singapore’s Foundation Healthcare maintains ~$750m valuation in first week of trading

The shares of Singaporean outpatient group Foundation Healthcare Holdings (FHH) are trading at S$0.73 ($0.57 USD) at the time of writing, one week after the company began trading on the Singapore Exchange. This is just below the IPO price of S$0.76 ($0.59 USD), and gives the group a market cap of about S$971 million (~$750 million USD), roughly 4x the company’s pro forma 2025 revenue of S$265.9 ​million (~$206 million USD) and 19x adjusted core profit ​of ⁠S$51.4 million (~$39.8 million USD), reflecting strong investor confidence in the company’s roll-up-driven growth strategy.

CapVest acquires German generics maker Stada for €10bn

London-based PE firm CapVest has bought a 70% stake in German pharma company Stada, in Europe’s biggest healthcare deal of 2025 so far. Bain Capital and Cinven, the company’s joint PE owners since 2017, will continue to hold the remaining 30%.

Macquarie buys 40% stake in Luz Saude

Infrastructure investor Macquarie has bought a 40% stake in Luz Saude, Portugal’s second largest private hospital group by revenue, for a base consideration of €310 million. The deal values Luz Saude at €1.1 billion in terms of enterprise value, a 9.5x multiple of the group’s 2024 EBITDA.

Inflexion sells European LifeCare Group to Findos

European mid-market PE firm Inflexion has sold European LifeCare Group (ELCG), a Denmark-based outpatient group focused on providing vaccination services with clinics in four European countries, to German PE firm Findos.

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