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ACXIT Healthcare Newsletter
December 2017
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Healthcare News
For Europe and Germany
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Colosseum Acquires Italian OdontoSalute
Colosseum Dental Group, part of Swiss-based investment firm Jacobs AG, reached an agreement with Dr. Fabio Boscolo to acquire 70% of OdontoSalute. Italy-based OdontoSalute operates a chain of 40 clinics, generating around EUR 40m in annual sales. Colosseum, with sales in excess of EUR 250m, operates more than 150 clinics in Europe.
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Nordic Capital signed an agreement to acquire Alloheim for EUR 1.1bn
In a competitive sales process Nordic Capital has outrivaled numerous competitors (i.e. DomusVi, Fosun, etc.) and agreed to acquire the German Alloheim Group from Carlyle for EUR 1.1bn. With an EBITDA multiple of about 12.5x the acquisition of the No. 2 operator is the largest transaction in the consolidating German nursing care industry to date.
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European Procession into LATAM Continues
Latin America (LATAM) keeps being in focus for European nursing home operators. After Belgium-based Senior Assist made a foray into the Chilean healthcare sector, planning to triple its beds to 1,500 and further expand to Colombia, Orpea also announced two joint ventures, building more than 2,000 nursing beds in Brazil.
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Vitanas and PuW Majority Stake Acquired by Oaktree
Oaktree Capital Management acquired a majority stake in Vitanas and Pflegen und Wohnen Hamburg (PuW). Vitanas and PuW are amongst the largest nursing home operators in Germany with a combined capacity of 8,300 care beds. ACXIT Capital Partners and equinet Bank have exclusively advised the sellers in this transaction.
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Agfa and Luxembourg Hospitals Cooperate for VNA
Fédération des Hôpitaux Luxembourgeois has signed a contract with Agfa HealthCare for a national vendor-neutral archive (VNA). VNA is a medical imaging technology in which images and documents are archived in a standard format. The project will include all images from all departments of all hospitals in Luxembourg.
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Chequers Capital Acquires Majority of MK-Kliniken
Ulrich Marseille, group founder and majority shareholder of MK-Kliniken, has agreed with Chequers Capital on the sale of part of the business to the private equity house. The assets on sale exclude the company’s real estates and ambulant care services. MK-Kliniken operates 55 care institutions and four homes for assisted living with a total capacity of 8,000 care beds.
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Orpea in Acquisition Talks with Clinica Lopez Ibor
Europe’s largest nursing home operator, France-based Orpea, is planning to expand further in Spain. The company is currently in talks with the owners of Clinica Lopez Ibor, a Madrid psychiatry center. After Orpea almost closed a deal in July, talks have continued. As of now, Lopez Ibor has 67 operating beds and offers psychiatric consultation services.
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Oberberg Kliniken Sold to Trilantic Capital Partners
Trilantic Europe, the European arm of Trilantic Capital Partners, acquired Oberberg Kliniken from the German PE House Odewald & Compagnie. Oberberg Kliniken operates nine clinics with approximately 560 beds specialized on psychotherapy, psychiatry and psychosomatic treatments. The transaction marketed the company at an EV of EUR 200m.
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Source: Mergermarket; ACXIT Capital Research
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Healthcare Topic of the Month
Single Room Rate in the Nursing Home Market
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