FRANCE - Duke Street exits Proclif
Duke Street Capital has sold its remaining 57% interest in Proclif, a private hospital company, to Predica, an insurance division of Crédit Agricole, which has in turn sold the stake on to Australian business Ramsay Healthcare for a reported EUR 87m.
The sale is based on a company valuation of EUR 170m, 9.3x Ebitda.
Proclif has nine private hospitals in the Paris region which operate about 1000 beds. The company had a turnover of EUR 133m in 2009.
Predica had already acquired a 43% interest in Proclif from Duke Street in July 2009 for around EUR 70m. Duke Street Capital wholly acquired the company in September 2005 for an undisclosed sum.
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