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Nursing Homes

 

Spanish bidding hots up

The bid for Spanish elderly care group Sanyres is coming to a close. As we wait for an official announcement, it appears that Paris-listed pan-European provider Orpea will pip Spain's top care group SARquavitae. Our sources expect the price to be an EBITDA multiple higher than twelve. Meanwhile, the bidding process for Spain's fifth largest group Amma has taken off. We look at the bidders and consider the sector.
April 1, 2016

MCO tariffs cuts in France: is it so bad?

Last month, the French government announced a 2.15% drop in tariffs for private hospitals. That comes after a 2.5% decrease in 2015. Most private operators are rather alarmist, saying it will lead to closures and job losses. They also consider themselves unfairly treated in comparison to the public sector. Yet, Yves Noël, president of hospital association Santé-Cité, says the situation isn’t so bad.
April 1, 2016

Gulf States to boost PPPs, eHealth, preventive care and long-term care

In its comprehensive annual report on the healthcare industry in the Gulf Cooperation Council (GCC) states, private equity house Alpen Capital explores current trends. Projecting the GCC total private and public healthcare market to grow 12.1% to $71.3bn in 2020, it highlights population growth, the introduction of health insurance and rising healthcare costs as key drivers –resulting in the development of PPPs, eHealth, preventive care and long-term care.
March 22, 2016

Healthcare real estate investors break barriers

The internationalisation of healthcare real estate is gathering pace, according to all the signs at MIPIM, the world’s largest property conference. Numerous investors told Healthcare Europa they were looking beyond their core markets. This follows recent foreign ventures by the healthcare REITs Aedifica, Cofinimmo, Primary Health Properties (PHP) and Medical Properties Trust (MPT). We look at why.
March 21, 2016

Aedifica buys Dutch care homes

The Belgian REIT, Aedifica, has paid Dutch nursing home operator, Domus Magnus, €30m for four nursing homes. Aedifica’s first acquisition in Holland was driven by strong yields and the potential to fund the growth of a market consolidator. We investigate.
March 11, 2016

Humana to IPO at up to €355m

Swedish care provider Humana is to IPO on March 22 in a listing which will value it at up to SEK3.3bn. The listing follows IPOs from Capio and Attendo in Sweden and from Pihlajalinna in Finland in 2015.
March 11, 2016

Spain’s elderly care sell off

Amma, Spain's fifth largest group is for sale. Meanwhile, French pan-European group Orpea and Spain's largest group SARquavitae are bidding for the sixth largest, Sanyres. Analysts expect 10x EBITDA multiples after Geriatros' sale in 2015 to PAI. Smaller care operations like La Saleta and Vitalia are also on the block. Sources close to SAR are denying that it, too, is for sale.
March 10, 2016

Bupa smiles despite write offs

What looks at first sight like dismal results from Bupa, the international insurer and healthcare operator, with a fall in pre-tax profits of 39% to £374m on sales of £9.8bn is actually much brighter than they first appear. Exclude most write offs and currency fluctuations, and pre-tax profits fell 2%, exclude all write offs and they rose 7% on sales up 6% in constant currencies. That is despite a 5% drop in sales at Bupa Global, the international insurance arm as Bupa dropped unprofitable business. We talk to CEO Stuart Fletcher about how apps and ehealth are helping sales, new insurance offers and acquisitions.
March 3, 2016

Trilantic buys into Italian rehab

Private equity house Trilantic Europe is investing €66m for a minority stake in Italian rehabilitation centre Fondazione Salvatore Maugeri. Vittorio Pignatti Morano, chairman of Trilantic Europe, tells Healthcare Europa how the group intends to expand through private sector acquisitions and partnerships with the public sector.
March 2, 2016

Solid Nordic results suggest more IPOs

Nordic healthcare groups Capio, Attendo and Pihlajalinna have released solid annual results after floating in 2015. Political risk appears to be fading in Sweden and new public-private opportunities are under way in Finland. Could rivals like Ambea and Humana file for IPOs in 2016? We look at the figures.
March 2, 2016
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