Private hospital provider Aspen up for sale

Mon, 08 May 2017 | BUSINESS SALE

The US owner of Aspen Healthcare, one of the UK’s biggest private hospital providers, has put the business up for sale just two years after it snapped it up.

Dallas-based Tenet Healthcare, which operates 80 hospitals across the US, has put its UK operation up for sale in the wake of a multi-million-dollar fraud settlement.

The Financial Times reports that Aspen, which operates nine healthcare facilities across the UK, could sell for £150 million.

Potential buyers, sources say, include Australian group Ramsay Healthcare and German healthcare company Fresenius Helios.

Aspen was founded in 1998 as the result of a management buy-out of Paracelsus UK from independent healthcare provider Paracelsus Kliniken Deutschland GmbH.

In 2000 it was acquired by private equity firm Welsh, Carson, Anderson & Stowe before being bought by Tenet in 2015.

In October last year, Tenet and two of its subsidiaries - Atlanta Medical Center and North Fulton Medical Center - agreed to pay more than $513 million to resolve criminal charges and civil claims over allegations the hospitals paid kickbacks in return for patient referrals.

In the UK Aspen runs six private hospitals, one cancer centre and one day surgery centre, as well as a 50 per cent stake in Nova Healthcare.

There has been revenue growth for the UK’s private hospitals, with the market worth £6.05 billion in 2015 according to healthcare analysts LaingBuisson.

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