Bridgepoint Said to Weigh IPO of French Hospital Group Medipoleby
Share sale may value Medipole at about 1.5 billion euros
Rothschild acting as financial advisor to Bridgepoint
Buyout firm Bridgepoint is considering an initial public offering for Medipole Partenaires that could value the French private hospital group at about 1.5 billion euros ($1.6 billion), according to people with knowledge of the matter.
The company is working with financial advisory firm Rothschild on options including an IPO of Medipole, which may lead to a sale of about 30 percent of the company as soon as the first half of next year, the people said, asking not to be identified because the deliberations are private. No final decisions have been made, and the valuation and size of the stake sold will depend on market conditions and investor demand, the people said.
Bridgepoint and Medipole’s management will hire the banks to underwrite and manage the share sale in the coming days, the people said. Medipole was created in 2014 by the merger of Medipole Sud Sante and Medi-Partenaires, forming one of the largest private hospital groups in France, according to its website. Under Bridgepoint, which acquired Medipole Sud Sante in 2011, the company operates 38 clinics and employs about 12,000 people.
Representatives for Medipole, Bridgepoint and Rothschild declined to comment.