Private equity companies Advent International, Carlyle Group and Ardian are reportedly considering the takeover of Sanecum Group, a company that operates medical centres in Germany.
Sources told Bloomberg that Sanecum’s owner, Adiuva Capital, is currently in talks with JPMorgan Chase & Co and other advisers to seek potential buyers.
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A provider of outpatient medical services, Sanecum is expected to be valued at up to €1.5bn ($1.6bn) in a potential sale.
The representatives for the involved parties, including Advent, Carlyle, Ardian, JPMorgan, Sanecum and Adiuva, have not commented on the proposed deal.
In 2022, German Health Minister Karl Lauterbach confirmed his intentions to introduce legislation to curb the acquisition of medical practices by investors.
No such law has yet been proposed and private equity investors remain hopeful that the current conditions will persist.
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By GlobalDataA ministry spokesperson told Bloomberg on 6 March that the legislation is currently in progress.
Sanecum was founded in 2019 by Ulf Völkel and Dr Susanne Hoischen, in partnership with Adiuva.
The company currently operates medical centres in six major cluster regions throughout Germany, specialising in internal medicine, particularly nephrology and cardiovascular medicine, along with diagnostic, imaging and laboratory medicine services.
It operates a physician network model under which doctors serve as shareholders and managing directors.
Last April, Sanecum Group secured €250m in funding from various long-term equity capital investors, led by Montana Capital Partners and a bank syndicate, to fuel its growth in the outpatient sector.
At the time, Adiuva said the company had registered over €200m in revenue and had more than 200 doctors.
Rothschild & Co acted as exclusive financial adviser to Adiuva Capital and Sanecum on both the debt and equity raise for the investment while Willkie Farr & Gallagher LLP and Flick Gocke Schaumburg provided legal advice on the equity process.
