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Nursing Homes

 

PAI and SAR waiting to resume negotiations

Private equity house PAI Partners put negotiations to buy 100% of Spain's largest care group SARquavitae on hold in late July. Sources told Healthcare Europa that the price has already been set at €500-550m, roughly 15x EBITDA. But there are discrepancies on how to formalise the agreement. We're still waiting for official talks to resume after the summer, which otherwise could close this very month.
September 8, 2016

Concerns over lack of transparency in German care homes

How do you assess the quality of a German care home? With great difficulty says Daniel Drepper, a German investigative journalist at Correctiv!, who alleges there isn't enough information to assess the quality of care home services, and local authorities are turning a blind eye to it.
August 18, 2016

CEO to leave low margin Norlandia

The CEO of Norwegian care group Norlandia is to stand down in September, with her deputy taking her place. Speaking to Healthcare Nova, Hilde-Britt Mellbye confirmed her replacement will be Yngvar Tov Herbjørnssønn, who is the group’s current organisational director and the deputy CEO. Mellbye will however be staying on until January 1, 2017, as an advisor to her replacement.
August 12, 2016

British care home chain gets £26m investment

Care home operator Hill Care, which runs a network of 19 facilities in the North of England, has received a £26m investment from Barclays as part of a refinance package.
August 11, 2016

SAR’s sale on hold for the summer

Sources claim that negotiations between PAI Partners and private equity houses G-Square and Palamon to buy Spain's elderly care market leader SARquavitae are "progressing well towards a deal, but have been put on hold until September". On another note, we hear that Higinio Raventós, founder and president of SAR until 2014, passed away this morning.
August 4, 2016

Bourke takes the reins at Bupa

The diversified healthcare giant Bupa has promoted acting CEO and former CFO, Evelyn Bourke, to CEO. The appointment was widely expected, and will bring continuity to a business that undertook a £1.8bn M&A drive under former CEO, Stuart Fletcher, but saw profits suffer.
July 28, 2016

Korian and Orpea on track to meet full-year sales targets

Paris-listed care groups Korian and Orpea, the two largest in Europe, released solid half-year results this week. The former reiterated its €3bn full-year sales target for 2016, whilst the latter revised it upwards by €90m to €2.81bn.
July 21, 2016

Armonea enters Spain and Germany

Belgium's largest care group Armonea has bought care operations Deutsche Pflege und Wohnen (DPUW) in Germany and La Saleta in Spain. These are Armonea's first international deals, which add up to a network of 125 nursing homes with 14,000 beds and sales of €420m in total. The plan is to expand nationally upon these platforms, CEO Chris Cools says.
July 21, 2016
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