Dubai lab group York Diagnostic Laboratories has grown from zero in September 2013 to 200 patients a day. That suggests sales could be running as high as $3-5m. We talk to co-founder Dr M. Jay Al Khatib.
Unsually, one of the potential bidders for Synlab, the BC Partners-owned European lab group, is a Canadian pension fund, say insiders. We name the fund and the other short-listed bidders.
French lab group Labco has released its prospectus and is expected to IPO in the first half of 2015 - our sources say May is most likely. It expects to raise €320 million from the deal. Investors will be attracted by solid EBITDA margins of 18.4% on revenue of €650m in 2014 – calculated on a pro forma basis to include earnings of recent acquisition SDN Group. But the highly regulated lab market presents substantial challenges.
Major suppliers enjoy perhaps the clearest view of how the diagnostics lab sector, private and public, is changing. And, as they seek to sell comprehensive and competitive solutions to lab operators, such suppliers are managing changing market dynamics and profitability within the sector.
Company doctor Jos Lamers appears to be hitting his targets to turn around Unilabs, the Pan-West European lab group that he joined as CEO 18 months ago. He has certainly been active – 8 out of the top 11 managers have changed, as have 40% of the top 100 employees!
Warburg Pincus has sold its 27% stake in Metropolis, the third largest Indian diagnostic lab chain, to the Shah family who run the business. Metropolis is also active in a half a dozen African countries and the UAE.
Private equity firm BC Partners is looking to exit Synlab after six years of ownership and has hired Rothschild to find a buyer. We hear that it is looking for €1.4-1.5bn. It paid €618m for the business in 2009.
Here we name and categorise the major investors in private healthcare services in the Developing World and get their view on the opportunities and problems they face. Developing World healthcare services have suddenly become wildly popular. New listed investment vehicles, such as GCC-based Amanat and Asian Healthcare Group in Malaysia have raised hundreds of millions of dollars with the promise of investing in healthcare services. Meanwhile, established private equity houses are launching funds worth up to $1bn and large healthcare services operators from Indonesia to Egypt are carrying out heavily oversubscribed IPOs on very high multiples.
Expect Integrated Diagnostic Holdings to IPO on the London and Egyptian stock markets in April or May. The IPO was delayed from February 2015. We look at why.
Equistone Partners Europe is looking to buy French lab groups Biomnis and Bioaccess, say reliable sources. A merger would create a formidable new French group. Equistone refused to comment.
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