Australian Group to acquire share in Luz Saúde

The Macquarie Group is close to buying a minority stake in the Luz Saúde hospital group, beating the competition from CVC Capital and KKR, Bloomberg reports, citing sources close to the matter.

The Australian Group is preparing to buy around 40% of Luz Saúde from the insurer Fidelidade controlled by the Chinese conglomerate Fosun.

Bloomberg adds that the agreement could be signed in the coming days with the group valuing Luz Saúde at over €1Bn.

This sale started following the unsuccessful attempt to take the group led by Isabel Vaz to the stock exchange last year. The old plan to sell by an IPO was eventually cancelled due to the “general market conditions” being of “uncertainty generated by the resurgence of the conflict in the Middle East”. Therefore, “impeding a correct valuation of the asset”.

Luz Saúde has 14 private hospitals and 15 clinics with over 1,100 beds and 56 operation blocks. It employs over 14,000.