HBI Exclusive News

 

The San Donato hospital empire: a financial analysis

HBI's analysis of Italy's largest for-profit hospital operator San Donato Group's accounts answers many questions about the group's financial health before COVID. Like: which hospital accounts for 40% of revenues yet drags down profits by 20%? How concentrated is the business in its Milan stronghold and does this differ for profitability? Which subsidiaries are growing and which aren't?
October 1, 2020

French and Italian hospital groups’ diverging recovery reflects COVID experience

August activity levels for France's second-largest hospital group Elsan were ahead of 2019, while Italy's largest player San Donato is still 30% down due to a more gradual restart of electives and stricter contagion control in Lombardy, HBI can reveal. The cautiousness reflects just how hard-hit the region was.
September 24, 2020

Mehilainen ‘spinning off digital arm’ as Pihlajalinna deadline looms

Finnish healthcare group Mehilainen is spinning off its digital consultancy business into a separate company which would make it easier to sell off in future, a senior banker tells HBI. An analyst adds that raising cash this way makes sense considering what has happened since it offered to buy competitor Pihlajalinna.
September 17, 2020

Multiples drop 10-15% in German outpatient sector

EBITDA multiples paid in the German outpatient sector have fallen 10-15% from pre-COVID levels because of market uncertainty due to the pandemic, an advisor tracking the space tells HBI.
September 17, 2020

NHS England trims operator list as PMI drives private pay recovery

We reveal which UK private hospital operators are still in NHS England's new national agreement and which left it on Tuesday, September 8. Private medical insurers (PMI) are 'busting' to get policyholders treated after delays but operators face a delicate balancing act in also helping the NHS clear waiting lists, an analyst tells HBI, as the market recovers to 70-80% of 2019 activity levels during July and August. 
September 10, 2020

EXCLUSIVE: Dutch mental health operator for sale

HBI hears that PE-backed Dutch mental health provider Mentaal Beter is for sale, with both private equity and international sector operators interested. A local consultant tells us why this is an attractive buy.
September 10, 2020

Jose de Mello Saude/CUF revises 2020 forecast as COVID recovery quickens

Portugal's largest hospital operator Jose de Mello Saude, now CUF, has revised earlier full-year revenue forecasts upwards as it sees a stronger post-COVID recovery than expected, CFO Guilherme Magalhães tells HBI. He discusses the pandemic's impact on AVLOS, digital penetration and the market's medium-term outlook, as well as it's recent name change and the future of PPPs in Portugal.
July 30, 2020

Exclusive: Steward’s International CEO on its future in Malta

Now that Steward Health Care has been bought by its doctors, what future does it face in Malta where the deal it inherited to run almost half the country’s public hospitals had attracted scrutiny? HBI talks exclusively to Dr Armin Ernst, CEO and President of Steward Health Care International.
June 29, 2020
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