CVC to buy Doughty's Quirón

CVC is reported to be paying around €900m for the asset. The deal is expected to occur before the end of June and would value the combined firm at around €1.5bn, reports say.

In February 2012, Doughty bought Spanish hospitals operator USP Hospitales from Barclays and Royal Bank of Scotland for €355m – 9x the firm's forecast EBITDA for the year.

Later that year, the GP bought a stake of around 40% in Quirón from the Cordón Muro family, who retained the remaining shares, in order to merge the firm with USP Hospitales. The Cordón Muro family exchanged its controlling stake in Grupo Hospitalario Quirón for a stake in the larger entity.

In October 2013, Magnum Industrial Partners sold Barcelona-based private medical clinic Centro Médico Teknon to Quirón for €225m.

CVC bought the Spanish hospital unit of Capio, the Swedish healthcare group owned by Apax and Nordic Capital, in 2011 for around €900m.

CVC could not be reached for comment. Doughty declined to comment.

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• Topics
• Southern Europe
• Healthcare
• Spain
• CVC Capital Partners
• Doughty Hanson & Co