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Psychiatry and Mental Health

 

Acadia buys Priory Group for 11.3 times EBITDA

Acadia, the big US pyschiatric group, is to buy Priory Group, by far the largest psychiatric player in the UK, in a deal which values Priory at $2.219bn. There are suggestions that this could lead to a referral to the Competition and Markets Authority. Priory owner Advent International was planning a February 2016 IPO. We look at the valuation and competition issues.
January 4, 2016

Chinese psychiatric chain to IPO

Psychiatric chain Wenzhou Kangning Hospital Company is set to pre-market its IPO on October 26 (today), with a two-week investor education period predicted before bookbuilding. The company should have a market capitalisation of over $100m after IPO.
October 26, 2015

Interview: Helmut Schuehsler, Chairman & CEO, TVM Capital Healthcare Partners

In 25 years TVM Capital, the business where Schuehsler is at the helm, has invested over $1.5bn in life sciences. Yet, five years ago, he took the remarkable personal decision to move from Munich to Dubai and to build a completely new arm to invest in healthcare services in Emerging Markets. Since then, Dubai-based TVM Capital Healthcare Partners and co-investors have invested some $150m in five investments, ranging from Egypt to India. He is now raising a third fund of $300m for another dozen investments.
September 21, 2015

Cygnet buys Alpha Hospitals for £95m

Private equity firm C & C Alpha Group (CCAG) has sold Alpha Hospitals to Cygnet Healthcare for £95m, as rumour spreads that another mental health provider will sell in the coming weeks.
August 21, 2015

Municipalities smile on new psychiatric hospitals in Germany

Two new psychiatric hospitals are underway in the Rhineland-Palatinate region of Germany, near the French border. Parkklinik Hornbach and Parkklinik Hermeskeil cost €15m and €25m respectively, with €28.6m already raised from banks and private investors. Thomas Schiwek, managing director for the Parkklinik Hornbach project, says he wants to tap the high-end market and that municipalities support these initiatives.
July 16, 2015

Interview: Stefan Larsson, Senior Partner, BCG

Worldwide, Stefan Larsson foresees a strong move in healthcare away from fee for service, in which quality is not measured and rewarded, to a system which measures and rewards outcomes. He thinks that model will apply across acute, elderly and chronic care. But how real is the shift? Here we talk to Larsson about examples of operators who have seen significant growth and about how payors are about to shift away from DRGs. He is a Co-founder of the International Consortium for Health Outcomes Measurement (ICHOM), a not-for-profit devoted to the development of global standards for measurement of health outcomes that matter to patients.
July 8, 2015

Care UK sells off three divisions

Care UK has sold its learning disabilities division to specialist care provider Lifeways Group, two weeks after the sale of its mental health unit to Partnerships in Care. Leonid Shapiro, managing partner and founder at Candesic, says the group is reshaping its strategy.
May 21, 2015

Orpea acquires Germany’s third largest rehabilitation operator Celenus Kliniken

Orpea, Europe's second largest residential care group, has acquired Celenus Kliniken, Germany’s third largest provider of rehabilitation and psychiatric services. German brokers say that prices have soared with reha and care home opcos up from four times EBITDA in 2013 to a base line of six times with some bidders not flinching at 8-10 times. We speak to Bruno de la Rochebrochard, equity research analyst at investment bank Bryan Garnier, about the deal and the sector.
May 21, 2015
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