Icade Santé, a 56.5%-owned healthcare subsidiary of French REIT Icade, said on Friday that it has agreed to acquire the real estate to be outsourced following the merger of operators Vedici and Vitalia.
Icade Santé, a 56.5%-owned healthcare subsidiary of French REIT Icade, said on Friday that it has agreed to acquire the real estate to be outsourced following the merger of operators Vedici and Vitalia.
Icade Santé said it will support Vedici Group in its bid to take over Vitalia with the acquisition of a portfolio of 17 clinics for obstetric medicine and surgery amounting to a total investment of €651 mln.
The agreement also envisages the possibility of extending the partnership over the medium term to include five additional buildings.
Vitalia is the operator of 41 clinics with a turnover of €606 mln while Vedici manages 40 clinics with a turnover of €570 mln. Their merger, which is planned to take place during October 2015, is expected to create a major player in the French healthcare sector.
'With this transaction Icade Santé will strengthen its strategic partnership with the Vedici Group, a fast-growing player, by supporting the industrial project of its directors and shareholders,' the company said in a statement.
