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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Ramsay Health Care Limited | ASX:RHC | Australian Stock Exchange | Ordinary Share |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| -0.59 | -1.71% | 33.93 | 33.93 | 34.14 | 34.61 | 33.76 | 34.60 | 879,024 | 07:50:00 |
From Dec 2019 to Dec 2024
By Robb M. Stewart
MELBOURNE, Australia--Ramsay Health Care Ltd. (RHC.AU) and its French joint venture partner have agreed to buy a controlling stake in Generale de Sante SA (GDS.FR), positioning the Australian company as the largest private-hospital operator in France.
Ramsay and insurer Credit Agricole Assurances will pay EUR16.75 (US$22.68) a share for the slightly more than 83% stake in Generale de Sante held by Sante SA and Sante Developpement Europe SAS.
Ramsay will pay EUR429 million for 57% of the shares picked up in the French company--the same percentage it holds in its Ramsay Sante venture with Credit Agricole, it said in a regulatory filing Wednesday. The venture partners plan to lift their investment in Generale de Sante, potentially increasing the amount Ramsay will pay to a maximum EUR515 million through a tender process.
The deal is Ramsay's fourth acquisition since it bought 57% of French hospital operator Groupe Proclif in 2010. Generale de Sante has 75 healthcare facilities, including 61 hospitals, and about 19,000 employees, and will bring Ramsay's portfolio in France to 115 facilities and 15,400 beds.
Ramsay said in mid-May it was in exclusive talks to buy Generale de Sante. The deal remains subject to approval by regulatory authorities and is scheduled to close by the end of the year.
The Australian company said it expects the acquisition to offer an immediate lift to its earnings.
Write to Robb M. Stewart at robb.stewart@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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