HBI Spotlight

 

17 things we learned at HBI 2023: Our key insights and takeaways

Our annual conference took place earlier this week in London. Over a jam-packed three days of HBI 2023, an impressive array of delegates from across Europe and beyond gathered in the heart of London and shared their insights into the myriad challenges and abundant opportunities the sector faces, and offered their views on how some of them might be addressed. Here are some of our key takeaways.

Where to look for green shoots in health care M&A

M&A in European health care has been almost at a standstill in H1 2023, as the chasm between the price expectations of buyers and sellers has grown. HBI asks if the prospects look better for H2 and beyond, with the help of market experts.

UK middle market set to boom

The growing self-pay middle market in the UK is set to boom off the back of continuing NHS struggles, and patients' increasing willingness to pay for affordable alternatives. HBI speaks to multiple sources and hears groups accustomed to NHF tariff work could benefit most. 

GenesisCare in the US files for bankruptcy

GenesisCare, the radiotherapy group with operations in the US, UK, Australia and Spain, has filed for voluntary reorganisation under chapter 11 of the US bankruptcy code and will look to sell off its US assets. HBI speaks to an advisory source to find out more.

€1bn+ Luz Saúde IPO could mark return of European health care listings

Luz Saúde, Portugal’s second largest private hospital group by revenue, is set to become a listed company once again after five years of being privately held, in an IPO which could mark the return of European health care listings. The group’s insurer owner Fidelidade plans to retain a strategic majority stake.

EDG “pulled from sale”

HBI hears the sale of Nordic-owned multinational dentist-led European Dental Group (EDG) is no longer going ahead. Multiple well-placed sources tell us more.

€1bn+ German outpatient group sale to shake up market

German out-of-hospital intensive care provider Deutsche Fachpflege is reportedly up for sale, in a deal that could value the company in excess of €1bn. HBI understands other players in the sector may also be coming up for sale in the coming months.

Orpea restructuring: What will it look to sell?

It has been almost six months since under-fire French nursing home giant Orpea announced plans to get its core business back on track, restructure its debt, and sell around €1.2bn worth of real estate over the next three years. As discussions separating the wheat from the chaff go on behind closed doors, HBI asks three experts where, and what it might sell, and reviews what other French operators like Korian are doing to repair reputation.

Consolidation is not the only answer: Why PE must focus on efficiency

European private equity (PE) health care investors have relied heavily on growing the scale and revenue of the companies they’ve acquired to create returns over the past decade, especially through consolidation, according to a new report by consultancy Bain & Company. But changing economic conditions may force them to pivot towards focusing on boosting margins through operational efficiency in the coming years.

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