Ramsay's French buy
Ramsay last month entered exclusive negotiations to buy Medipsy, which has 30 hospitals and more than 2600 beds.
Ramsay managing director Chris Rex said the acquisition of Medipsy and the addition of the hospitals to existing French operations - Ramsay Sante - was a significant development.
"We are very excited about the opportunity to acquire this business and the scale that it will bring to our portfolio in France. It catapults Ramsay into a new league and firms up the strength of our European operations," he said.
"Since entering the market in 2010, we have been carefully pursuing a broader French expansion strategy and following some successful bolt-on acquisitions, this deal allows Ramsay Sante to gain significant scale in France."
At its annual meeting last week, Ramsay reaffirmed guidance of underlying net profit growth of 12 to 14 per cent this financial year, helped by expanding capacity both locally and overseas.
After the addition of Medipsy, Ramsay will have 4100 hospital beds in France, making it the country's third-largest hospital operator by number of facilities.
Ramsay Sante will assume financial debt and financial leases of about $3.7 million as part of the deal.
Frequently Asked Questions about this Article…
Ramsay Health Care has recently acquired Medipsy, a French mental health clinic network, for $223 million. This acquisition includes 30 hospitals and over 2,600 beds.
The acquisition of Medipsy significantly expands Ramsay Health Care's operations in France, adding substantial scale to their portfolio and making them the third-largest hospital operator in the country by number of facilities.
Ramsay Health Care is expanding its operations in Europe to strengthen its presence and scale in the region. The acquisition of Medipsy is part of a broader French expansion strategy that began in 2010.
As part of the Medipsy acquisition, Ramsay Health Care will assume financial debt and financial leases of about $3.7 million. This deal is expected to contribute to Ramsay's underlying net profit growth of 12 to 14 percent this financial year.
After acquiring Medipsy, Ramsay Health Care will have a total of 4,100 hospital beds in France.
The acquisition of Medipsy is a significant development for Ramsay Health Care as it enhances their scale and strengthens their European operations, particularly in the French market.
Since entering the French market in 2010, Ramsay Health Care has been pursuing a broader expansion strategy, which includes successful bolt-on acquisitions like Medipsy to gain significant scale in France.
Ramsay Health Care has reaffirmed guidance of underlying net profit growth of 12 to 14 percent for the current financial year, supported by expanding capacity both locally and overseas.
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