Doughty Hanson acquires USP Hospitales for €355m

The equity investment is in line with Doughty Hanson's experience in the healthcare sector.

Previous funding
Cinven purchased USP Hospitales for an enterprise value of €675m in 2007. The acquisition involved the 70% stake owned by Mercapital, the 20% shareholding held by the management and a 10% stake of Portuguese bank Caixa Geral de Depositos.

In 2009 the group was taken over by Barclays and RBS, both of which leveraged the 2007 deal.

Company
USP Hospitales is the third largest private hospital operator in Spain and focuses on the provision of hospital services to the private insurance and self-pay segments. The company operates 12 hospitals, one specialist and 22 auxiliary clinics and is strong in trauma, gynaecology, oncology, cardiology, neurosurgery and internal medicine.

USP is present in 9 out of 17 regions in Spain with a particularly strong presence in Barcelona, Madrid and Seville.

People
Francisco Gutiérrez Churtichaga is senior principal for Doughty Hanson.

Advisers
Equity – Rothschild (Corporate finance).

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