Ramsay enters French health care market
Ramsay Health Care (RHC) has made a foray into the French healthcare sector, taking a 57% stake in private hospital operator Groupe Proclif SAS for $142 million, the group said Monday. Ramsay said it expected the purchase to deliver a small accretion to core EPS by FY12.
The Aussie healthcare provider said the stake in Proclif, which operates nine hospitals and 1,000 beds around Paris, was an ideal entry point into the French acute care market.
”The French system is a popular and stable system with important social security funding for both public and private operators providing patients with free choice,” Ramsay managing director Chris Rex said.
”Growth is driven by an ageing demographic, together with opportunities for further consolidation.”
Ramsay said the group would continue to push into the French market, using this acquisition as a platform for further investment in the country.
Ramsay also noted its joint venture partner, Predica, had considerable experience investing in the French healthcare sector.
At the close Friday, Ramsay Healthcare shares were trading at $11.07 each.
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