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Doctoralia innovates across Latin America

In an unusual innovation, Doctoralia, the international rating and online booking platform, is partnering with patient associations and getting doctors to rate doctors as part of an awards programme. Owned by its Spanish founders, Doctoralia is now active in over 20 countries, particularly Latin America. It claims patients book 100,000 appointments a month on its platform. We interview Frederic Llordachs, co-founder of Doctoralia. This month, we are also writing a detailed survey of how such sites are developing in Emerging Markets from Chile to China.
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

FREE BLOG What does the Vitaldent scandal tell us?

An international dentistry group with EBITDA of €35m, which was about to start an auction process to sell to private equity, probably for an enterprise value of over €200m, has been engulfed in a scandal so bad that its very existence is in question (see our sepearate news story).
February 23, 2016

Scandal engulfs Vitaldent

Vitaldent, the big Spanish and Italian dentistry chain, has been engulfed in a tax scandal. This came a few weeks before an auction was about to start to sell the business, which boasted EBITDA of €35m. In 2015, PAI came close to paying €200m for the group. Observers say the brand has been trashed so badly that the group, which gets over half its sales from franchisees, may not survive.
February 22, 2016

Catalonia slams door on public-private concessions

The Catalan government will not renew two public-private hospital concessions in Barcelona - Clínica del Vallés and Hospital General de Catalunya - once they expire in August 2016. Spain's largest group, Quirón, owns both of them. This follows a retreat in Valencia. Even Madrid where the right wing PP runs a minority government may be vulnerable.
February 22, 2016

Spanish operators target medical tourists

Health tourism in Spain grew sales of €500m, up 20% in 2015. Patients traveling to get treatment are still low - 100,000 per year - but the business cluster Spaincares has set to double the size of the market by 2020.
February 10, 2016

Ribera and Centene are still buying

Spanish operator Ribera Salud wants to expand its 35% stake to full ownership in the controversial Alzira-style hospital concession in Dénia, in the Valencian autonomy of Spain. German insurer DKV own the remaining 65% and would almost certainly be willing to sell cheap. The concession is unprofitable, the Valencian government is set to terminate it and, according to Spanish press reports, even refuses to meet the CEO of Ribera. The puzzle is why Ribera and its backer American giant Centene would want to pump more money into what looks like a doomed model.
January 28, 2016
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