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Médi-Partenaires

Médi-Partenaires is a French group of private clinics focused on medicine, surgery and obstetrics.

Equistone led the spin-out of Médi-Partenaires from Universal Health Services, a US hospital group, alongside Cobalt Capital and Sagard. Subsequently, Equistone and the management team led a restructuring and refinancing of the group two years later. This transaction introduced LBO France as the new majority investor.

VALUE CREATION

Since investment, Médi-Partenaires has become the third leading provider of private healthcare in France with a total of 36 institutions including 25 private clinics. The group has demonstrated impressive growth, with turnover increasing from €228m in 2005 to €552m in 2013.

Equistone has worked alongside the management team to support:

  • The group’s continued buy-and-build strategy with the acquisition of 10 clinics and two divestments.
  • The improvement of its financial structure, as a result of the sale of property leases followed by a high yield refinancing.
  • The maintaining of one of the highest EBITDAR margin in the sector.

THE EXIT

Equistone sold its Fund II investment in Médi-Partenaires through a merger with Médipôle Sud Santé, thereby creating the number two player in private hospitals in France.

HOLDING PERIOD

Mar 2005 - Jun 2014

Country

France

Business Description

Healthcare

Revenue Progression

€204m / €552m

Employees at ACQ.

2,370

Investment Type

Primary MBO

Since 2005, the Equistone team has partnered with Médi-Partenaires to build its skills in acquiring and running private clinics, whilst offering its patients an ambitious quality policy.

ADD-ON ACQUISITIONS

Néphrologie des Fleurs
2012
CTMR
2009
Les Fleurs
2008
Radiothérapie Auvergne
2008
Inkerman
2008
Vauban
2007
Sorbiers
2007
Flandre
2007
PSR
2006
Cimror
2006
Clinique Majorel
2006
Les Cédres
2005
Jean Villar
2005