Reuters – CVC Capital Partners will buy a 61 percent stake in Spanish hospital group Quiron from fellow private equity firm Doughty Hanson and merge the company with its other Spanish medical group IDC, Quiron said on Tuesday.
Private healthcare groups are taking hold in Spain following cuts to health and education spending by the government as it tries to hit tough budget targets.
Quiron did not give any financial details for the deal, which it said was expected to be completed this month.
The new group will manage 40 hospitals and will employ 17,000, it added. ($1 = 0.7345 euros) (Reporting By Andres Gonzalez; Editing by Greg Mahlich)