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France: Turenne Capital opens up healthcare value chain to private investors with launch of FPCI Santé & Opportunités

Healthcare Nick Herbert -
Turenne Santé is giving access to its healthcare know-how to private investors with the launch of the FPCI Santé & Opportunités. The FPCI Santé & Opportunités new feeder fund provides access to two complementary strategies: Capital Santé 3, dedicated to buyout capital transactions in profitable SMEs in the healthcare sector; and...

UK: Spire agrees terms on cash offer and announces changes to senior management

Buy Out Nick Herbert -
Spire Healthcare and a consortium of funds including Toscafund, Three Hills and Ares, have reached an agreement on the terms of a recommended cash offer of 250 pence, valuing Spire’s issued share capital at approximately £1.0265bn (US$1.39bn) and implying an enterprise value of approximately £2.3076bn. The price represents an implied enterprise value multiple of approximately 8.6 times Spire's adjusted EBITDA for the year ended 31 December 2025. The agreement follows an initial approach from Toscafund in May. The consortium believes that the company is undervalued on the stock exchange and that...