BUPA hospitals race gathers pace
The £100m (€144.8m) sale of 10 BUPA hospitals in the UK appeared on track today after the healthcare firm confirmed it was in exclusive talks with a potential buyer.
Reports named the venture capital arm of insurer Legal & General – already the owner of Vue Cinemas and the Unique Pub Company – as the likely bidder.
BUPA, which announced plans to sell the 10 hospitals in June, said today it had granted a period of exclusivity to one party, but did not name them.
The sites are being sold by BUPA following a review of its portfolio, which includes a total of 34 hospitals, 250 care homes and a medical insurance arm.
As part of a repositioning in the healthcare market, BUPA is selling smaller hospitals in Farnham, Reading, Hythe, Hastings, Halifax, Leeds, Blackpool, Hull, Macclesfield and Wrexham.
It is expected BUPA will invest £100m (€144.8m) over three years in its remaining hospitals, most of which are twice the size of the sites being sold.
Legal & General Ventures already has interests in the healthcare market following its acquisition of Craegmoor Healthcare, a provider of specialist care homes for the elderly.
