Antin Infrastructure Partners strengthens its presence in social infrastructure with the proposed acquisition of Almaviva Santé from UI and Gimv

24 October 2017

Antin Infrastructure Partners ("Antin"), one of Europe's leading infrastructure investment firms, announced today that it has entered into exclusive negotiations to acquire a majority stake in Almaviva Santé, the fifth-largest private hospital group in France, from UI and Gimv. Yves Journel, the founder of the DomusVi Group, will reinvest alongside Antin through his family holding Sagesse Retraite Santé (“SRS”).

Almaviva Santé is a private health group created in 2007 by its Chief Executive Officer, Bruno Marie. Thanks to an external growth strategy focused on the development of regional clusters of medical excellence, Almaviva has over the past 10 years become a group comprising of 30 private clinics with a strong local presence in the Provence–Alpes-Côte d'Azur region - where it is the leading private hospital group - and in the Ile-de-France region surrounding Paris, two particularly dynamic regions.

Almaviva stands out in many surgical fields, particularly in orthopedics, ophthalmology, cardiology and urology. The company manages 2,700 beds and available spaces, 190 operating and examination rooms, and employs 3,300 staff and 1,100 private practitioners. Almaviva expects to generate revenues above €300 million in 2017.

Alain Rauscher, CEO and Managing Partner of Antin said, "We are very pleased to announce this partnership with Almaviva and proud to be associated with Yves Journel, with whom we have a longstanding relationship. We are also very enthusiastic about accompanying Bruno Marie and Almaviva's management team in the group's future development. Social infrastructure is one of the pillars of Antin's strategy and this investment, building on our 2016 acquisition of Inicea, strengthens our presence in this strategic sector in France.”

Angelika Schöchlin, Senior Partner at Antin, added, "We are delighted to be able to further strengthen our position in the social infrastructure sector through this investment in Almaviva. Private hospital care in France is an essential component of the health care offer, particularly in the field of surgery, where it accounts for about 60% of all procedures at national level. We have been impressed by Almaviva's rapid development in recent years, which has led to the creation of two regional clusters of medical excellence. Antin is delighted to support the group's strategy of growing its footprint in its strongholds.”

Yves Journel added, "Antin is the perfect partner to support Almaviva in pursuing its growth strategy, together with management, doctors and us, SRS."

Bruno Marie, founder and CEO of Almaviva, announced, "Almaviva has experienced exceptional growth since its inception. We wish to thank UI and Gimv for supporting us over the past few years. We are delighted to join forces with Antin and Yves Journel. Almaviva will benefit from the experience and support of these two key partners in the group's next stage of development."

The closing of the transaction is notably subject to consultation with Almaviva's works councils and approval by the competition authorities.

About SRS

Founded by Yves Journel, its main shareholder (78%) alongside MACIF (19%), SRS is a longstanding player in the health and medico-social sectors. SRS notably created the DomusVi Group (3rd largest private group providing care and services to the elderly in France and leader in Spain with €1.3 billion turnover in 2016) in which it still owns a close to 33% stake. SRS also controls Sedna, the leading private group in the health and medico-social sectors in Québec (Canada), dedicated real estate companies and several participations, one of which is Elivie, one of France’s leading providers of healthcare at home.

About Almaviva

Almaviva Santé is a private health group created in 2007 by its CEO Bruno Marie. Almaviva is composed of clusters of excellence in many surgical fields, particularly in orthopedics, ophthalmology, cardiology and urology. The group manages 2,700 beds and available spaces, 190 operating and examination rooms, and employs 3,300 staff and 1,100 private practitioners.