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EBITDA multiple

 

SpaMedica up for sale (again)

HBI hears ophthalmic specialist SpaMedica, the largest UK NHS cataract surgery provider, is back up for sale just two months after it was pulled from the market. HBI speaks to a UK based market expert to find out more, and about how the group continues to carve out a growing niche for itself, and speculates on price and multiple.

Dentistry: At a tipping point for PE consolidators

Retail healthcare investors who have seen the European veterinary space undergo an eight-year period of rapid practice consolidation by private-equity backed groups are beginning to look at dentistry. Will yesterday's investors in vets tomorrow invest in dentists? HBI chats to Mansfield Advisors to find out more about how dentistry could be at a price tipping point that will favour big consolidators.

IDH looks set to sell next year – but could it sell even sooner?

There was speculation over the summer that the UK's biggest dental player by revenue, Mydentist (rebranded from IDH) was set to sell - and then all went quiet, drowned out in part by noise about Brexit and a possible election. But a sale is definitely on the cards next year and HBI hears rumours that investor Carlyle has been tentatively seeking earlier suitors for an accelerated exclusive bilateral deal before Christmas - though sources close to the company dismiss this suggestion out of hand.

French lab group seeks €400-500m sale

The owners of France's sixth biggest lab group Laborizon are reportedly selling a majority stake in the company, we hear, with first-round bids due Friday, September 27.

Italian KOS Charlestons into Germany

Italy's second-largest nursing home group by revenue, Gruppo KOS, has entered Germany for the first time with the acquisition of fast-growing residential care group Charleston. We discuss multiples and market dynamics with a sector expert.

Triton to buy Aleris for 18x EBITDA

Private equity group Triton is to acquire Aleris' healthcare services business, nine months after owner Investor AB sold off its social care segment. It values Aleris at 2.6-2.8bn SEK (€246-265m) or 17-18x 2018 EBITDA. 

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