22/09/2011
USP IN SALE AGAIN.
The hospital group United Surgical Partners (USP), controlled by private equity firm Cinven and in hands of creditor banks Barclays and Royal Bank of Scotland since May 2009, is again for sale. Financial institutions value the group at €300 million, more than ten times EBITDA.The deal could close before the end of the year.
Among those interested in purchasing USP are Goodgrower, controlled by Gallardo family, Quirón Group (controlled by Portuguese Mello family), the private equity firms Advent, Mercapital, CVC and a consortium of Blackstone and Gabriel Masfurroll, former owner of USP. Goodgrower acquired recently Adeslas (see news) and CVC acquired Grupo Capio in one of the main deals of 2011 (see news). The process is led by Barclays, RBS, The Boston Consulting Group and PwC.
USP achieved a €319.3 million turnover and a net negative profit in the last fiscal year. The group controls 12 hospitals and 23 consultations centers in Spain.