This article is from the Australian Property Journal archive
LISTED hospital owner and operator Ramsay Health Care has bought a private hospital in Toulouse France.
Ramsay’s French subsidiary Ramsay Santé, has acquired almost 90% of Clinique de l’Union, which boasts a turnover of circa €65million.
Ramsay Health Care has purchased the operating business. French health real estate leader, ICADE Santé, has acquired the property assets of the hospital.
Clinique de l’Union is a 531 bed medical, surgical and obstetric hospital treating 43,000 inpatients and 26,000 emergency presentations each year. The hospital is well-recognised as a leading hospital in France achieving a fourth place ranking in Le Point’s 50 best hospitals in France in 2012 and rating sixth on Le Figaro’s Honour list also in 2012.
The acquisition of Clinique de l’Union is Ramsay Santé’s second acquisition since Ramsay acquired 57% of the French hospital operator in 2010 and follows the purchase of Clinique Convert in Rhône-Alpes in 2012.
Ramsay’s managing director Christopher Rex said the acquisition of Clinique de l’Union was a positive step in expanding the Ramsay Santé business.
“We have been cautiously analysing opportunities in France since entering the market three years ago. Given the market dynamics in Europe, we have only actively pursued those opportunities that have met our strict investment criteria.
“The French hospital market remained highly fragmented and we expect further opportunities like Clinique de l’Union, which was previously owned by a group of doctors, to present over time,” he added. “This acquisition fits with our strategy of bolt-on acquisitions in markets where we think our healthcare management experience can enhance the facility.”
Property Review