BUPA's hospitals go to PE (private equity) for $2.9bn:
This article was originally published in Clinica
UK private healthcare group BUPA has sold its 25 UK hospitals to private equity (PE) group Cinven for £1.44bn ($2.85bn). Cinven, which already controls much of the UK's specialist mental health and related services via its ownership Partnerships in Care, beat off several PE rivals CVC, Terra Firma, PAI and BC Partners to clinch the deal this week. Its strong medical portfolio stood in its favour, press reports said. Cinven said the hospitals have "considerable potential. They contributed 11% of BUPA's 2006 revenues.