CVC Explores Options for $3.3 Billion French Medical Chain

(Bloomberg) -- CVC Capital Partners is exploring options for its French private medical chain Elsan SAS, people familiar with the matter said.

The private equity firm has been speaking with potential advisers about a sale or initial public offering of Elsan, according to the people, who asked not to be identified because the information is private. A deal could value the company at about 3 billion euros ($3.3 billion), the people said.

Paris-based Elsan operates more than 120 clinics and private hospitals across France. The company employs about 25,000 people including 6,500 physicians, according to its website.

CVC acquired Elsan in 2014 from private equity firms NiXEN Partners SAS and 3i Group plc for an undisclosed amount.

No final decisions have been made, and CVC may decide to hold the company for longer, the people said. Representatives for CVC and Elsan declined to comment.

CVC has a track record of lucrative investments in the European health-care industry. In 2016, CVC and its partners agreed to sell Spanish hospital operator IDC Salud Holding SLU to Fresenius SE for 5.76 billion euros.

©2020 Bloomberg L.P.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.