M&A Deal Summary

Cinven Acquires Spire Healthcare

On August 1, 2007, private equity firm Cinven acquired healthcare services company Spire Healthcare from Bupa for 2.1B EUR

Acquisition Highlights
  • This is Cinven’s 7th transaction in the Healthcare Services sector.
  • This is Cinven’s 10th largest (disclosed) transaction.
  • This is Cinven’s 71st transaction in the United Kingdom.
Investment Fate
  • Spire Healthcare was sold to management in 2015.

M&A Deal Summary

Date 2007-08-01
Target Spire Healthcare
Sector Healthcare Services
Buyer(s) Cinven
Sellers(s) Bupa
Deal Type Divestiture
Deal Value 2.1B EUR

Target

Spire Healthcare

London, United Kingdom
Spire Healthcare is a provider of private healthcare, with 37 private hospitals throughout the UK. The company is built on a proud heritage of over 25 years experience of running successful private hospitals. Spire Healthcare is committed to the highest quality of patient care and has earned a reputation as a leader in its field. We were the first private hospital provider to publish outcomes data on our website and we have received numerous awards for our clinical quality, financial performance and leadership, as well as our environmental policy.

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Buyer(S) 1

Buyer

Cinven

London, United Kingdom

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1977
PE ASSETS 39.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Cinven is a private equity firm focused on buyout investments in growing, profitable businesses located throughout Europe and North America. Sectors of interest include business and financial services, healthcare, industrial, retail, leisure, consumer, technology, media, and telecommunications. Cinven looks to invest a minimum of €200 million in companies with minimum enterprise values of €400 million. Cinven does not invest in start-ups or development phase companies. Cinven was established in 1977 and is headquartered in London.


DEAL STATS #
Overall 113 of 184
Sector (Healthcare Services) 7 of 9
Type (Divestiture) 23 of 35
Country (United Kingdom) 71 of 87
Year (2007) 3 of 5
Size (of disclosed) 10 of 62
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-07-12 USP Hospitales

Madrid, Spain

USP Hospitales is a hospital operator in Spain, focused on the provision of hospital services to the private insurance and self-pay segments. It is present in 9 out of Spain’s 17 regions and is headquartered in Madrid.

Buy $920M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-12-01 Coor

Kista, Sweden

Coor is a provider of IFM and FM services in the Nordics, offering all the facility management services necessary for a company or public body to work smoothly and effectively. Coor was founded in 1998 and is headquartered in Kista, Sweden.

Buy €540M

Seller(S) 1

SELLER

Bupa

London, United Kingdom

Category Company
Founded 1947
Sector Healthcare Services
Employees84,000
DESCRIPTION

Bupa is a global health and care company serving 32 million customers in 190 countries. Company purpose is to help people live longer, healthier, happier lives. With no shareholders, we reinvest our profits in more and better healthcare for customers. Founded in 1947 in the UK,now employ 84,000 people, primarily in the UK, Australia, Spain, Poland, New Zealand and Chile, as well as Saudi Arabia, Hong Kong, India, Thailand and the US.


DEAL STATS #
Overall 2 of 6
Sector (Healthcare Services) 2 of 4
Type (Divestiture) 2 of 6
Country (United Kingdom) 2 of 5
Year (2007) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-10-01 International Health Insurance danmark AS

Copenhagen, Denmark

IHI is the world's leading provider of international private medical insurance. IHI is recognised for offering one of the broadest and most differentiated product portfolios in the market place.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-10-03 I-Med Radiology Network

Sydney, Australia

I-Med Radiology Network is a diagnostic imaging provider. It was formed in 2000 and offers comprehensive and high-quality services including X-ray, PET, CT, MRI, Nuclear Medicine, Ultrasound, Mammography and Interventional Procedures. Across Australia, I-MED operates 204 clinics covering all major metropolitan areas and significant parts of rural Australia. Each year almost 5 million patient procedures are performed by I-MED’s more than 300 radiologists, 50 nuclear medicine physicians, and 3,500 staff.

Buy AU$1.2B