Icade's healthcare arm has acquired the Union and Marquisat clinics in the French city of Toulouse for €39 mln, including tax.
Icade's healthcare arm has acquired the Union and Marquisat clinics in the French city of Toulouse for €39 mln, including tax.
The hospitals, offering a total of 532 beds, will be operated by Ramsay Group which is taking a 12-year fixed lease.
The deal is the first to be carried out by Icade with operator Ramsay Santé, which specialises in the operation of private hospitals.
Icade, a unit of Caisse des Dépôts, said its healthcare unit currently owns 57 facilities managed by eight different operators and valued at over €1.7 bn.
In May, the company carried out a €110 mln capital increase to bring in a new institutional investor. The transaction, which was based on Net Asset Value, lowered Icade's equity stake in the subsidiary to 57% from 69% previously. It followed a €250 mln capital increase in April which was reserved for three institutional investors led primarily by Crédit Agricole Assurances and BNP Paribas Cardif.
Icade Santé generated turnover of €91 mln in 2012.
