Antin Infrastructure Partners has begun exclusive negotiations regarding the acquisition of a majority stake in the fifth-largest private hospital group in France.
The French fund manager is seeking to invest in Almaviva Santé, a private health group which boasts a portfolio of 2,700 beds across 30 sites and covers most medical and surgical disciplines. The Côte d’Azur region in the southeast of the country is host to 16 of the hospitals, with the remainder based in Paris.
“We have been impressed by Almaviva’s rapid development in recent years, which has led to the creation of two regional clusters of medical excellence.”
The negotiations are being carried out with the group’s owners Gimv and UI Gestion, which bought the stake in 2013. The pair invested six years after the platform was initially established with the acquisition of one site and they have added a further 23 to the portfolio in the past four years. It is expected to generate revenues more than €300 million this year.
The deal is being pursued through Antin’s €3.6 billion third fund and will represent the second investment made by the vehicle, after Antin bought Kisimul, a UK-based institution focused on children with autism.
“Private hospital care in France is an essential component of the healthcare offer, particularly in the field of surgery, where it accounts for about 60 percent of all procedures at national level,” said Angelika Schöchlin, senior partner at Antin. “We have been impressed by Almaviva’s rapid development in recent years, which has led to the creation of two regional clusters of medical excellence.”
The fund’s predecessor sealed two healthcare-related investments in the Germany-based medical diagnostics firm Amedes and French psychiatric clinic group Inicea.