European private equity firm Cinven has won the battle for control of BUPA’s 26 UK hospitals, paying £1.44bn to clinch the deal. Daily Telegraph. The Times
The price was driven higher by interest from private equity firms. BC Partners, CVC, PAI and Terra Firma are all believed to have submitted second-round bids. Cinven won the auction partly because of its has previous experience in the private healthcare market.
Hospitals combine steady, inflation-proof revenues together with unrealised value in property assets.