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New York private equity firm the Blackstone Group LP is entertaining up to four bids for its portfolio company, French hospital chain Groupe Vitalia, which has received offers of roughly $2.2 billion.
New York based Blackstone expects to sell the business for about €1.3 billion ($2.04 billion) to €1.4 billion. Bidders for Vitalia include French buyout shop LBO France, London-based CVC Capital Partners Ltd, French real estate firm Batipart SA and Italian hospital operator Gruppo Ospedaliero San Donato, the source said confirming information first reported by Bloomberg. Christian Le Dorze launched Vitalia in April 2006; with Blackstone's backing, it has expanded rapidly through bolt-on acquisitions. It has invested about €900 million ($1.4 billion) in its two years, buying 46 clinics that collectively generated about €650 million of sales in 2007. April reports in the French press claimed Blackstone had invited offers for the unit, but the buyout firm was reportedly indifferent to an offer for the company from French builder Eiffage SA. - George White See Bloomberg story See Groupe Vitalia story on The Deal.com CategoriesCommentsPrivate capital video
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