Case studies

Xanit Hospital International, Clínica Universal and Clínica Nuevo Parque

BIMBO of Xanit Hospital Internacional

Dec 2007

Altium acted as exclusive financial adviser to N+1 Private Equity on its acquisitions of Xanit Hospital International, Clínica Universal and Clínica Nuevo Parque

Background

N+1 is one of the most successful private equity firms in Spain in terms of historic IRR obtained and number of investments completed. The investment is part of a new fund being set up by N+1 Private Equity Fund and Dinamia, with investment capacity exceeding €600m. Dinamia’s funds are sponsored by Partners Group and Swiss private bank Lombard Odiel Darier Hentsch among others, who, besides their role as limited partners in N+1 Private Equity Funds, acted as direct investors in this acquisition.

Xanit Hospital International is an independent hospital based in Benalmádena (Málaga) equipped with the most advanced technology. Xanit was the first acquisition of N+1 PE Fund and Dinamia’s buy and build project in the private healthcare services market in Spain, led by one of the most experienced management teams in the sector.

The acquisitions of Clínica Universal and Clínica Nuevo Parque, both private independent hospitals located in Madrid, were the second stage of this project.

Transaction

In December 2007, Altium advised the Spanish investment firm N+1 Private Equity on its €42m BIMBO acquisition of a 64 per cent. stake in Xanit Hospital International. The rest of the equity is controlled by Lombard Odier Darier Hentsch Private Equity and Partners Group, together with the management team.

In June 2008, Altium advised N+1 on its 100 per cent. acquisition of Cisne Medical Group of companies, comprising, among others, Clínica Universal and Clínica Nueva Parque, both hospitals based in Madrid.

In both transactions, Altium acted as adviser to N+1 through the whole process of negotiation, from the presentation of an indicative offer until the closing of the transaction.

For further information on this transaction please contact Ignacio Durán and Fernando Gómez

<< Click here for further Case Studies