Slideshow: In Good Health

Last year was exceptional for private equity investors in the healthcare sector worldwide. The amount of capital flowing into the healthcare industry doubled, from approximately $15 billion in 2010 to about $30 billion in 2011, and represented 15% of total global private equity deal activity, according to figures from Bain & Company’s first Global Healthcare Private Equity Report.

The report cites that large buyouts helped propel those numbers and inspite of a nearly 10% decline in deal volume, healthcare buyouts comprised 65% of the value of the top ten global private equity deals in 2011. The most active sector, according to the report, was medical technology and related services, accounting for around 40% of value. Pharmaceuticals and related services followed with about 30% of total investment. The remaining 30% or so went to providers and services, the category that also produced the highest volume of deals, says the report.

According to Bain, both financial and strategic investors competed fiercely for assets, driving up multiples while creating more exit opportunities. According to data from peHUB publisher Thomson Reuters, private equity investors in some of the top deals of the last year include Apax Partners, Canada Pension Plan, The Carlyle Group, Hellman & Friedman, BC Partners, Silver Lake Partners, TPG Capital, KKR, Cinven and Triton. A handful of secondary buyouts in this top ten also provided a profitable exit route for some lucky investors. Scroll down to find out who backed what healthcare deal and who paid the highest price for the privilege last year.


[slide title=” 10. Sebia “]

Business Description: Manufacturer of reagents

Nation: France

Acquiror: Cinven (secondary buyout from Montagu Private Equity)

Deal Value: $1,093.79 million

[slide title=” 9. Ambea “]

Business Description: Provider of healthcare services

Nation: Sweden

Acquirors: Investor group comprised of Triton Advisers (Nordic) AB (Triton) and Kohlberg Kravis Roberts (secondary buyout from 3i)

Deal Value: $1,148.8 million

[slide title=” 8. Capio Sanidad “]

Business Description: Owner and operator of hospitals, Nation: Spain

Acquiror: CVC Capital Partners

Deal Value: $1,179.25 million

[slide title=” 7. Priory Healthcare”]

Business Description: Provider of mental healthcare and specialist education services

Nation: UK

Acquiror: Advent International (acquired from Royal Bank of Scotland Group)

Deal Value: $1,468.90 million

[slide title=” 6. Healthscope”]

Business Description: Owner and operator of hospitals

Nation: Australia

Acquirors: Carlyle Group and TPG Capital

Deal Value: $2,348.08 million

[slide title=” 5. Capsugel “]

Business Description: Manufacturer and wholesaler of drugs

Nation: US

Acquiror: KKR

Deal Value: $2,375 million

[slide title=” 4. Emergency Medical Services Corp”]

Business Description: Provider of emergency medical care services

Nation: US

Acquiror: Clayton, Dubilier & Rice

Deal Value: $2,923.2 million

[slide title=” 3. MultiPlan”]

Business Description: Provider of health care cost management services

Nation: US

Acquirors: BC Partners and Silver Lake Partners (secondary buyout from Carlyle)

Deal Value: $3100 million

[slide title=” 2. Pharmaceutical Product Development “]

Business Description: Provider of research and development services

Nation: US

Acquirors: Carlyle and Hellman & Friedman

Deal Value: $3,386.97 million

[slide title=” 1. Kinetic Concepts “]

Business Description: Manufacturer and wholesaler of therapeutic beds

Nation: US

Acquirors: Apax Partners, Canada Pension Plan Investment Board and Canadian state-owned Public Sector Pension Investment Board

Deal Value: $5,765.41 million

Source: Thomson Reuters