
CVC buys Metropolitan Hospital Group
CVC Capital Partners has acquired a controlling stake in Greek hospital operator Metropolitan Hospital Group.
The deal saw the GP draw down capital from its CVC Fund VI vehicle to acquire a majority stake, while the management team retained a minority stake. Additional terms of the transaction remain undisclosed.
According to local press reports, the GP acquired a 70% stake in the business for €90m.
CVC Fund VI held a final close on €10.5bn in June 2013 after six months on the road.
Company
Established in 2000 and headquartered in Athens, Metropolitan manages private hospital facilities in Greece and claims to serve 35,000 inpatients and 300,000 outpatients annually.
According to unquote" sister company Mergermarket, the business posted €101.6m in revenues in 2015, while local press reports mentioned a €11m EBITDA figure and €61,000 in net profits during the same fiscal year. The company employs a staff of 958.
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