Gimv's Almaviva bolts on Paris hospital

Ellie Pullen
14 January 2015

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Gimv- and UI Gestion-backed Almaviva Santé has acquired l’Hôpital Privé d’Evry (HPE) to bolster its position in the Ile-de-France region.

Capital for the acquisition came from the €80m invested by Gimv and UI Gestion when they acquired the company in November 2013. The investment comprised the acquisition price of Almaviva plus future commitments to the company to aid its growth.

Following the acquisition, Almaviva's pro rata revenues for 2014 stand at €130m. The company now operates 1,000 beds and 70 operating rooms. It employs 1,200 staff overall, 650 of which are doctors.

Previous funding
Gimv and UI Gestion acquired Almaviva from 21 Partners in November 2013 for €80m. The two firms each paid around €40m for a joint majority stake, with Gimv partly investing via its Gimv Health & Care Fund.

The sale is believed to have generated a return of 3x for 21 Partners.

21 Partners was a founding investor of Almaviva in June 2007. Following its inception, the firm committed a further €15m to the company alongside Societe Generale in April 2010. 21 Partners held a 90% stake in the business at the time, according to unquote" data.

Company
Founded in 1983 and based in Evry, HPE is a private hospital with 213 beds and 51 medical practitioners.

The company operates the Essonne clinic, which specialises in medical and surgical procedures for the musculo-skeletal system, and the Champs Elysées rehabilitation clinic, which specialises in neurology, orthopaedic and trauma rehabilitation.

The company employs 191 staff.

People
Bruno Marie is the president of Almaviva. Christophe van Vaeck is a principal on Gimv's Health & Care platform, while Sébastien Alauzet is an investment manager at UI Gestion.