News 2004
BC Partners' Spanish Acquisition Adds Third Healthcare Leg
BC Partners, the leading European buy-out firm, announces the acquisition of Group Teknon from Tenet HealthCare Corporation (NYSE: THC) for €90million. This is the third private hospital acquisition made by BC Partners which acquired General Healthcare Group, the UK’s number one private acute care hospital and acute psychiatric group for £1.3 billion (€1.9 billion) in September 2000, and Hirslanden Holding, Switzerland’s number one private acute care hospital group for CHF 930 million (€610 million) in December 2002. Teknon, located in Barcelona, is the top rated private hospital in Spain.
Stefano Quadrio Curzio, Managing Partner, commented “This is the third private acute care hospital group BC Partners has invested in. Together they constitute the largest and most successful private hospital group in Europe combining the number one operator in each of the UK, Switzerland and Spain.
“Teknon is the number one private hospital in Spain. It has the highest reputation amongst doctors and patients, based on the quality of its staff, its state of the art hospital campus and its first rate facilities, including 20 operating theatres, range of magnetic resonance imaging scanners, and two of the latest Varian linear accelerators. The hospital is particularly well known for its oncology, maternity and orthopaedic departments as well as for internal medicine and general surgery. We are excited by the growth prospects for Teknon and we plan to build a bigger group in Spain”.
Robert Manson, Chief Executive of Teknon added “This is a highly positive development for all the staff, doctors and patients of Teknon. There should be real benefits from medical exchanges, co-operation on purchasing and transfer of know-how”.
| Turnover | Beds | Acute Inpatients | Outpatients | Hospitals | |
|---|---|---|---|---|---|
| General Healthcare Group | 993 | 3,074 | 100,000 | 126,000 | 59 |
| Hirslanden Group | 453 | 1133 | 54,000 | 31,000 | 12 |
| Teknon | 50 | 256 | 17,000 | 10,000 | 1 |
| €1,496m | 4,463 | 171,000 | 167,000 | 72 |
The transaction was financed by Mizuho Corporate Bank Ltd and BC Partners was advised by NM Rothschild Ltd.
END
For further information please contact:
Stefano Quadrio Curzio, BC Partners +44 (0)20 7009 4800
Anthony Cardew, CardewChancery Ltd +44 (0)20 7930 0777
Robert Manson, Teknon +34 93 290 6210
About BC Partners
BC Partners (www.bcpartners.com) is a leading pan-European private equity firm, operating through integrated teams based in Hamburg, London, Milan, Paris and Geneva. Over 18 years the firm has developed a long track record of successfully acquiring and developing European businesses in partnership with management, investing in 55 acquisitions with a combined enterprise value of €32bn.