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M&A/IPOs

 

IFM rumoured to be frontrunner in sale of Healius’ imaging division

Listed Australian primary care, pathology and diagnostics group Healius is selling its imaging branch, Lumus Imaging, as part of a restructuring plan to reduce the business complexity. According to local news sources, global institutional investment manager IFM Investors is now the frontrunner in the auction process.

Veterinary fundamentals as strong as human healthcare, with more consolidation opportunities and less regulatory risk

Speakers at HBI’s first ever panel on the veterinary sector made a compelling case for the sector’s investability to HBI 2024 attendees. Demand is resilient and growing, supported by a growing number of pets as well as greater expenditure from pet owners as the range of services expands. Demand growth is also supported by greater price flexibility than human healthcare typically has in most European countries. And almost all the continent’s markets remain unconsolidated. 

HBI News Round Up, 21st June 2024

In this HBI News Round Up, we look at the outcome of Dutch primary care chain Co-Med’s bankruptcy hearing in the Netherlands, French real estate investor Transitions Europe’s entry into Spain’s care home sector, PE firm Columna Capital's latest €290m raise, Spanish hospital group Ribera Salud’s acquisition of Covadonga Hospital in Spain, the extension of the Greek government-backed EquiFund-2 programme to finance life sciences and healthcare start-ups, real estate investor PGIM Real Estate’s acquisition of UK senior housing provider Signature Senior Lifestyle, the first strike by public sector healthcare workers in Sweden in 16 years, and pan-Asian hospital group IHH's desire to enter Vietnam and Indonesia. 

Healthcare investment “through the bottom of the cycle” — Goldberg (Rothschild)

At last year’s conference Hedley Goldberg, Managing Director at multinational investment bank Rothschild, predicted healthcare M&A activity would begin picking up again in Q4 2023 or Q1 2024. But we’re now halfway through 2024 and there are still very few deals above €500m taking place. Goldberg is confident, however, that we have now passed through the bottom of the cycle.

Dutch aesthetics chain Faceland exploits sector’s M&A opportunities by buying Italy’s largest chain Juneco

Pan-European Dutch aesthetics chain Faceland is taking advantage of the ample consolidation opportunities in Europe’s rapidly growing aesthetics sector by buying Juneco, Italy’s largest aesthetics chain. This marks Faceland’s first foray into the Italian market and will help the group achieve its plan to grow to over 50 clinics across its five European markets by the end of 2024.

Paras Health expected to file for $120 million IPO

Northern India-based hospital chain Paras Health is set to file a Draft Red Herring Prospectus (DRHP), or offer document, with the Securities and Exchange Board of India (SEBI) by the end of June for an initial public offering (IPO) worth INR 1000-1200 crore (~$120-144 million) according to India’s The Economic Times.

NMC Health considering sale and IPO

NMC Health, one of the UAE’s largest private healthcare providers, has appointed investment bank Rothschild to advise on options for its shareholders. The options under consideration include a sale and an IPO. The company was previously listed on the London Stock Exchange before it was placed into administration in 2020.

KKR makes AI investment in India’s Infinx Services

AI continues to make inroads in healthcare. Digitalisation and the use of AI were prominent topics in nearly every panel discussion at the recent HBI 2024 conference, held from June 10 to 12, with 580 delegates from 40 countries in attendance.

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