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Americans scour Europe

US property investors are getting much more adventurous. Some are considering investing in Greek and Spanish hospital groups. We look at why and how they will invest.
December 6, 2013

Interview: Stuart Fletcher, CEO, Bupa

It has been a busy year for insurer, hospital operator and care group Bupa. New CEO Stuart Fletcher is spending roughly £1.25bn to buy businesses in half a dozen countries across the world. That includes the planned acquisition of Cruz Blanca, a Chilean service provider and insurer, as well as the purchases of Quality HealthCare (a network of 102 outpatient clinics and 500 affiliates in Hong Kong), Richmond Villages (an assisted living business in the UK), LUX MED (the largest subscription healthcare operator in Poland), ten nursing homes in Australia, and dentists here, there and everywhere. All this is part of the Bupa 2020 master plan, which will see the world’s largest player in ex-pat insurance deliver far more integrated care. We talk to Fletcher to find out more.
December 6, 2013

Medical Properties plans more deals in Europe

Medical Properties Trust (MPT), the US healthcare REIT specialising in hospital property, is scouring Northern and Western Europe for deals, following its purchase of the property portfolio of RHM Kliniken. We take a look at its strategy.
November 20, 2013

Korian/Medica merger to create new care giant

Europe's - and, by some measures, the world’s - largest nursing home group, with pro-forma 2012 sales of €2.2bn, 57,000 beds and 600 units, has been formed by the planned merger of French giants Medica and Korian. What are the real synergies between the companies, and what will be the merged group’s strategy? We take a look, while Korian CEO Yann Coleou, who will be the CEO of the merged group, is speaking at the annual Healthcare Europa conference on March 13, 2014.
November 18, 2013

American REITs reach mainland Europe

For the first time, one of the specialist healthcare US REITs has purchased a medical portfolio in mainland Europe. Medical Properties (MPT) is paying $244.7m (€181.78m) for almost the entire portfolio of German operator RHM Klinik- und Altenheimbetriebe, which is owned by Waterland Private Equity.
November 1, 2013

NHP appoints advisors

NHP, the UK property company (propCo) that owns the estate of second-largest care home operator HC-One, is looking for investment bank advisors. NHP’s estate of 297 care homes on freehold and long leasehold and three nurse accommodation homes has been valued at £530m, less than half of its current debt load of £1.35bn. What will NHP do to keep the business going? We investigate.
June 29, 2013

First deal made in French secondary market

What is believed to be the first deal in the secondary market for French acute hospitals has been struck by Gecimed, the healthcare arm of property REIT Gecina. But it looks as though the yield which was not disclosed was high.
April 9, 2013

Why such secrecy around Spire?

A veil of secrecy surrounds one of the largest property deals in the hospital sector. Cinven-backed Spire, the UK hospital chain, has sold 12 of its 38 hospitals to raise £700m. Why the silence?
February 1, 2013

Will American REITs really invade Europe?

We’ve been promised that the giant American REITs would move into the European health and social care space in a big way for quite some time now. Will the moment ever come? While UK consultants are bullish, American investment analyst James Sullivan of Cowen & Co. thinks there’s reason to be skeptical.
January 31, 2013
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