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M&A/IPOs

 

Where to look for green shoots in health care M&A

M&A in European health care has been almost at a standstill in H1 2023, as the chasm between the price expectations of buyers and sellers has grown. HBI asks if the prospects look better for H2 and beyond, with the help of market experts.

AXA IM Alts enters nursing home market in Italy

Global asset manager AXA's investment arm, AXA IM Alts, has entered the Italian market with the forward-purchase of a six-asset portfolio from real estate management company Namira.

India continues to boom

India is continuing to buck the global trend of slow deal activity in 2023, with multiple major health care services deals in process.

GenesisCare in the US files for bankruptcy

GenesisCare, the radiotherapy group with operations in the US, UK, Australia and Spain, has filed for voluntary reorganisation under chapter 11 of the US bankruptcy code and will look to sell off its US assets. HBI speaks to an advisory source to find out more.

Low key Latvia sale kicks off Orpea refocusing

Last week, French nursing home operator Orpea initiated the start of the partial sale of its €1.2bn real estate portfolio, commencing with its Latvian presence - a singular retirement home in Riva. This low key sale marks the first small step in a major three-year plan to refocus its geographies. HBI speaks to a market expert to find out more.

Dutch competition authority gets reined in again

The Netherlands’ activist competition authority has been reined in again. The acquisition of dermatology specialist Mauritskliniek by hospital group Bergman Clinics is no longer barred, after another reversal by a judge. However, the decision is moot, as Mauritskliniek has already been bought by German cosmetic surgery provider Corius Gruppe.

€1bn+ Luz Saúde IPO could mark return of European health care listings

Luz Saúde, Portugal’s second largest private hospital group by revenue, is set to become a listed company once again after five years of being privately held, in an IPO which could mark the return of European health care listings. The group’s insurer owner Fidelidade plans to retain a strategic majority stake.

EDG “pulled from sale”

HBI hears the sale of Nordic-owned multinational dentist-led European Dental Group (EDG) is no longer going ahead. Multiple well-placed sources tell us more.

Blackstone acquires Care Hospitals, whilst rival bidder sues

US-based PE firm Blackstone is acquiring Care Hospitals, one of India's largest hospital groups, for around $800m. Meanwhile Max Healthcare, another one of India’s largest private hospital groups and a former front-runner in the sale process, is suing Care Hospitals and its PE owner TPG, for breaching an exclusivity agreement for the sale signed in March.

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