CVC to partially exit Elsan to trade

Francesca Veronesi
01 November 2018

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CVC Capital Partners-backed French private hospital operator Elsan is to sell its Clinique Toulouse-Lautrec division to French hospital group Clinipole, according to press reports.

French hospital group Clinipole, based in Castelnau-le-Lez, has submitted an offer to acquire Clinique Toulouse-Lautrec from parent company Elsan, according to French publication La Depeche.

The completion, which is expected by the end of the year, is pending approval from the competition regulator and the employees' representatives, according to the news channel.

Elsan's 23,000 employees and 6,500 independent doctors work in 123 clinics, treating 2 million patients a year. The group is the product of a merger between Vedici and Vitalia in November 2015.

Apax France and its listed vehicle, Altamir Amboise, bought a 40% stake in Vedici in 2006. 3i and Nixen purchased a combined 65% stake in Vedici in 2010, which gave the firm an enterprise value of €200m. Finally CVC acquired the asset in 2014. Following the merger with Vitalia in 2015 and once rebranded as Elsan, the group acquired MédiPôle Partenaires in 2017.

Located in Albi, Clinique Toulouse-Lautrec is a division of Elsan that employs 50 specialist doctors and a team of 200 people. The hospital facility has 179 beds with conventional and outpatient facilities. It generated a €16m turnover in 2016, according to its annual account.