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PAI and SAR waiting to resume negotiations

Private equity house PAI Partners put negotiations to buy 100% of Spain's largest care group SARquavitae on hold in late July. Sources told Healthcare Europa that the price has already been set at €500-550m, roughly 15x EBITDA. But there are discrepancies on how to formalise the agreement. We're still waiting for official talks to resume after the summer, which otherwise could close this very month.
September 8, 2016

Fresenius Helios buys Quirónsalud

Fresenius Helios has acquired Quirónsalud, the largest Spanish hospital group, in a move which finally takes the largest German group outside its home country. The deal creates a hospital division inside Fresenius with sales of around €8bn, making it by far the largest private hospital player in Europe and larger than international comparitors Ramsay, Mediclinic, Netcare or Life.
September 6, 2016

FREE BLOG Two business models we didn’t think would fly

A few years ago we scratched our heads and dismissed two very different business ideas as “no-goers” – teleradiology and formalising “Ladies from the East.” How wrong we were. For many years teleradiology really didn’t look like a flyer. Public sector hospitals  didn’t want to outsource image interpretation to the private sector. And (very well […]
September 5, 2016

Nisa’s handover to Spanish provider Vithas still up in the air

Spanish provider Vithas is set for full control at Valencian seven-hospital network Nisa after buying a 30% stake. Nisa's management is putting spokes in its wheel. But the deal is a key move to consolidate the sector and strengthens Vithas' position among the top three hospital groups in the country.
August 31, 2016

Interview: Fernando Echevarne Santamaria, managing director, Echevarne laboratories

Faced with falling prices and limited expansion opportunities, Spain’s largest independent lab group Echevarne laboratories is trying to find new ways to grow. We speak to Fernando Echevarne Santamaria, managing director of Echevarne Laboratories, on whether the group's strategy to vertically integrate is paying off.
August 18, 2016

Overall revenues up at Bupa – but Bupa Global’s profits decline

Overall revenues at Bupa are up according to its half year results – with only Bupa Global notably blotting the copybook with a decline in profits. Here is what Bupa had to say to Healthcare Europa and Nova about those Bupa Global figures - and their views on the thinking behind the recent sale of Bupa Home Healthcare to Celesio in the UK - together with a summary of the half-year report.
August 17, 2016

SAR’s sale on hold for the summer

Sources claim that negotiations between PAI Partners and private equity houses G-Square and Palamon to buy Spain's elderly care market leader SARquavitae are "progressing well towards a deal, but have been put on hold until September". On another note, we hear that Higinio Raventós, founder and president of SAR until 2014, passed away this morning.
August 4, 2016

Interview: Ignacio Riesgo, independent healthcare consultant

We speak to Ignacio Riesgo, previously a healthcare leader at PwC in Madrid, and currently an independent advisor to both public and private providers. Riesgo muses on the industrialization of healthcare in his latest book Médicos o robots: La medicina que viene (Rasche).
August 2, 2016

China Resources to buy GenesisCare

Macquarie-backed, state-owned conglomerate China Resources (CR) is waiting for Australian regulatory approval to buy private equity house KKR's 45% stake in oncology group GenesisCare. CR wants to continue expanding Genesis in Western Europe and to tap the Chinese market with new hospital management contracts. The deal values the company at US$1.3bn.
July 26, 2016

Korian and Orpea on track to meet full-year sales targets

Paris-listed care groups Korian and Orpea, the two largest in Europe, released solid half-year results this week. The former reiterated its €3bn full-year sales target for 2016, whilst the latter revised it upwards by €90m to €2.81bn.
July 21, 2016
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