21 Partners' Almaviva Sante acquires two French clinics

Société Générale, OBC Neuflize and Caisse d'Epargne Provence Alpes Corse provided a senior debt package for the acquisition. Société Générale also provided mezzanine funding, advised by Hogan Lovells.

Follwing the acquisition, Almaviva Sante will have an 800-bed capacity, allowing it to perform up to 800,000 surgeries per year. The expected turnover of the consolidated group in 2012 is €100m.

Almaviva has acquired seven clinics since it was first bought by 21 Partners in June 2007 for less than €25m.

Company
Axium is a clinic in Aix en Provence that provides a range of surgical and other medical services. Its expertise include cardiology, ophtalmology, surgery and others. The clinic's 2011 turnover was €23m, with 22,000 patients treated.

Clinique Toutes Aures is based in Manosque and works in collaboration with Axium. In 2011, it registered 6,000 treatments with a turnover of €4m.

People
Senior associate Henry Huyghues Despointes led the deal on behalf of 21 Partners.

Advisers
Equity – HPML, Vincent Libaud, Marie-Laure Pichard (Legal); Lefaure Bouchony (Legal); Ernst & Young, François Rochmann, Chloé Launois (Financial due diligence); Audit Chorus Conseil (Assurance); ERM (Environmental due diligence); Socotec (Real estate due diligence).
 

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