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European private equity firm gets double returns through its exit from Spire Healthcase

Cinven, the European private equity firm has scored twice the return through exit of UK hospital group Spire Healthcase. In June, Cinven sold a 29.9 percent stake in Spire to Remgro the major shareholder of Mediclinic, a South African private hospital group and offloading the other 8.4 percent on four days later. Cinven acquired Spire, earlier BUPA’s hospitals, for 1.44 billion pounds in 2007. Under Cinven’s ownership, the company has seen revenues increase from 564 million pounds in 2008 to 856 million pounds in 2014. The deal is the latest in a string of successful healthcare realisations for Cinven, including Phadia which scored a 1 billion-euro gain and 3.4-times return, and Sebia which nabbed a 2.4-times return.

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