How international is Europe’s for-profit healthcare sector?
This week, one of Europe’s hottest healthcare sectors saw a new two-country platform emerge when French homecare player Santie Cie acquired German peer Aposan Holding. Data from HBI Intelligence reveals how much of Europe’s six largest for-profit healthcare sectors are held by international operators.
The charts below reveal the percentage of the for-profit sector in Europe held by international operators for dialysis, labs, nursing homes, hospitals, imaging and dentistry. The data is made up of the total for-profit sector in 15-20 countries each, with slight variations between sectors and the inclusion of South Africa, UAE and Saudi Arabia for hospitals.
Dialysis unsurprisingly has the highest share held by internationals. Fresenius Medical Care, Davita, Diaverum and B. Braun hold 40-50% of the market in countries covered in the HBI Intelligence report. If all country markets were the same size the figure would be higher, but the largest sectors like Germany, Italy and France remain more fragmented, bringing down the figure.
(The figure is less precise than other sectors as none of the international groups disclose country-level revenues in annual reporting. In the void, we use available national registry filings which may be partially incomplete, industry source estimates or HBI own estimates.)
Next is labs, where PE-backed consolidators like Unilabs, Synlab and Cerba are competing for market share, but large domestic players have refused to sell meaning the figure is lower at 33%. Orpea, Korian, DomusVi and other emerging international platforms hold about a quarter of Europe’s nursing home sector.
Hospitals is surprisingly high at 22% despite the small number of international platforms, but as they are all huge – Ramsay, Helios, Mediclinic – the figure is still significant.
Down in the single digits are dentistry and imaging, where there are only a handful of international platforms and internationalisation has proven challenging – as one of this week’s stories shows.
All of the underlying data for these charts – country sub-sector market size and company sub-sector revenues – can be found in HBI Intelligence.
We would welcome your thoughts on this story. Email your views to Cameron Murray or call 0207 183 3779.
