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Outpatient (ex Primary Care)

 

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.
July 16, 2026

TPG creates European outpatient real estate platform from €400m worth of MOBs bought from Northwest

Private equity investor TPG has launched a specialist outpatient real estate investment platform to hold the €400 million worth of German and Dutch medical outpatient buildings (MOBs) it bought from Canada-based healthcare REIT Northwest in January, and acquire similar additional properties. The platform, called Arcura Medical Properties, will remain fully owned by TPG’s real estate investment branch (TPG Real Estate), but will operate “independently”, managed by Simon Betty as CEO, who formerly headed Northwest’s European branch, along with his team.
July 7, 2026

Structural tailwinds from hospital reform driving growth in German outpatient intensive care sector- Dr Erik Hamann, Opseo 

Germany’s outpatient intensive care market is entering a period of structural change, creating significant opportunities for providers with scale, according to Dr Erik Hamann, CEO of Opseo, a German provider of intensive care services. HBI recently spoke to Hamann about Germany’s hospital reform, increasing regulatory complexity and ongoing market consolidation. These trends are reshaping the […]
June 16, 2026

TEC becomes joint owner of Quadrivio’s CareHub

The Equity Club (TEC), Italian international banking group Mediobanca’s club deal investment platform, has co-invested in a €50 million capital increase for Italian outpatient diagnostics provider CareHub, owned by private equity firm Quadrivio Group since 2024 via its Silver Economy Fund. Quadrivio and TEC will now co-own the operator. We spoke to Dario Di Iorio, Senior Investment Director at Quadrivio’s Silver Economy Fund, about the deal and the wider opportunity in Italy’s rapidly expanding private outpatient market.
April 30, 2026

HBI 2026: Why now is the time to invest in DACH

Across Europe, the DACH region stands out for its scale, stability, and potential for consolidation.  At HBI 2026, a panel of senior investors and operators highlighted why the region is increasingly seen as an attractive and underappreciated market for healthcare consolidation.
April 1, 2026

Interview: Jason Powell, CEO of UK Vein Clinic

HBI talks to Jason Powell, CEO of UK Vein Clinic, a low-cost outpatient chain for vericose vein treatment on the company's national expansion and the UK vein care market. UK Vein Clinic has announced plans to expand its network, with the launch of 17 new clinics in 2026.
February 5, 2026

Bupa acquires third London hospital

British multinational health insurer Bupa is buying King Edward VII’s Hospital, a 56-bed facility in the Harley Street area in London. This follows the recent acquisition of New Victoria Hospital, a 33-bed facility in Kingston Upon Thames. Both acquisitions are driven by Bupa’s strategic intent to keep 40% of referrals within its provider network. However, we hear Bupa may struggle to attract the consultants, and therefore enough patients, that would be required to achieve this.
October 23, 2025

Is the profit motive at odds with impact investing goals in emerging market healthcare?

Last week Bloomberg accused US private equity firm TPG of putting profit before the interest of patients in various emerging market hospitals it has invested in. We spoke to TPG to get their response to the specific accusations made against them. We also spoke to others operating in Africa about whether there is, at a more general level, a tension between seeking profit whilst simultaneously seeking to achieve impact investing goals in emerging market healthcare. 
September 4, 2025
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