Gruppo San Donato has agreed to buy a majority stake in Polish cardiovascular care company American Heart of Poland as part of the Italian group’s drive to boost revenue by consolidating Europe’s healthcare sector.
The transaction values the Polish company at more than 500 million euros ($539 million), according to Masroor Haq, head of strategic investments at investment manager GSKD, which is partnering San Donato in the deal.
Following the acquisition, Gruppo San Donato’s revenues will top 2 billion euros, Haq said, creating a leader in cardiovascular disease treatment in Europe.
Europe´s ageing population, along with growth in telemedicine and remote surgery, is making healthcare one of the most active sectors for investors.
Gruppo San Donato, Italy’s largest private healthcare group with 56 medical sites, aims to keep growing its revenues through acquisitions in Europe, according a joint statement from the companies on Friday.
American Heart of Poland manages over 20 medical centres specialising in cardiology, cardio-surgery and vascular surgery in the country.
According to LSEG, healthcare accounted for 14% of global mergers and acquisitions in the first half of the year.
Healthcare services will continue to attract substantial investor interest during the second half of 2023, according to consultancy firm PWC, as investors seek to consolidate a highly fragmented industry.
Last month, private equity firm Apax agreed to buy a co-controlling stake in Spain’s Palex Medical, a medical equipment provider, in a 1 billion euro deal.
Gruppo San Donato and GKSD were avised by BNP Paribas, while American Heart of Poland shareholders were advised by PwC and Clifford Chance.
