TLC GROUP acquired by ORPEA

Orpea acquired 50% of Brindley Healthcare, the fourth largest Irish nursing home operator, and simultaneously negotiated a call option enabling it to acquire the remaining 50% and reach full ownership by 2022. The transaction follows Orpea's acquisition of TLC Group earlier in January 2020 and confirms the group's strategic commitment to the Irish elderly care market, where it now becomes the second largest operator nationally. The two acquisitions — TLC and Brindley — are highly complementary geographically, with TLC concentrated in the Greater Dublin county and Brindley providing broader national coverage

Asklepios and RHÖN founder Eugen Münch (together with Ingeborg Münch and HCM SE) agreed to pool their combined RHÖN shareholdings — representing nearly 50% of the capital — into a newly created joint venture. Under the terms of the agreement, the Münch family contributed approximately 7.6% of RHÖN shares directly into the joint venture and sold approximately 12.4% of RHÖN shares to Asklepios, which contributed these together with its existing RHÖN stake into the joint venture. Simultaneously, Asklepios announced a voluntary public tender offer for all remaining outstanding RHÖN shares at €18

Vivalto Vie acquired 100% of Solimar, a Valencia-based nursing home operator, marking the group's first international expansion outside France. The transaction was executed simultaneously with the closing of the Amundi PEF-led LBO of Vivalto Vie and represents the first building block of the group's Spanish platform, which targets a pipeline of approximately 1,000 additional beds through a combination of further acquisitions and greenfield development projects.

Clariane (formerly operating as Korian) has finalized the definitive acquisition of Inicea, a premier psychiatric care provider, from Antin Infrastructure Partners. This landmark healthcare transaction positions the European care and hospitality giant among the top 3 private psychiatry operators in France. By merging Inicea's 19 specialized facilities with its own 11 existing clinics, the group scales its network to 30 specialized psychiatric and addiction clinics, effectively establishing a dedicated fourth business line focused on mental health within its French operations

Amundi PEF acquired a minority but leading stake in Vivalto Vie from Azulis Capital, which had been the group's largest shareholder since 2015 with approximately 35% of the capital. The sale process was mandated to Natixis Partners and Azulis Capital exited at a multiple exceeding 3x its initial investment. Société Générale Capital Partenaires entered the shareholder structure alongside Amundi PEF, while BNP Paribas Développement and Socadif retained small existing positions. Operational control of the group remains with Vivalto Partners

Ardian acquired a majority stake in Sante Cie from HLD and UI Gestion, who had controlled the company since 2015. Both HLD and UI Gestion reinvested significant capital alongside Ardian and the management team to support the next phase of growth. The transaction was designed to provide the group with the "firepower" to lead the consolidation of the fragmented French Home Healthcare market and to begin a pan-European expansion. The investment thesis focused on demographic tailwinds (aging population) and the structural shift in healthcare systems toward reducing hospital stays by favoring home-based medical support

Vivalto Santé acquired Mathilde Médical Développement, adding four establishments — two clinics and two radiotherapy centres — to its existing Normandie footprint. The acquisition complements Vivalto Santé's existing presence in the region through the Clinique de l'Europe in Rouen and the Hôpital Pasteur in Evreux. The deal follows a series of acquisitions completed in 2019, including the Hôpital Privé du Confluent in Nantes, the Polyclinique de l'Europe in Saint-Nazaire, and the Polyclinique du Parc in Cholet, reflecting Vivalto Santé's ongoing buy-and-build strategy across the French private hospital market

: Circle Health Holdings acquired 100% of GHG Healthcare Holdings Limited, the indirect parent of BMI Healthcare, creating a combined private hospital group operating 55 hospitals and clinics across the UK. The transaction was reviewed by the UK Competition and Markets Authority (CMA), which identified competition concerns in two local markets — Bath (where the Parties were the two largest PHMS providers and competed closely) and Birmingham (where Circle's planned new hospital would have competed directly with BMI's two existing facilities)

Triton Partners acquired a controlling majority stake in Aleris Group from Patricia Industries in a significant Nordic healthcare transaction. The deal was structured via a definitive share purchase agreement and funded primarily through equity drawn from the Triton Fund V, a flagship vehicle that finalized fundraising at €5 billion in January 2019. Under the binding terms of the carve-out agreement, the digital healthcare platform entity Doktor24 was explicitly excluded from the perimeter and remained under the ownership of Patricia Industries

Naxicap Partners entered into exclusive negotiations to acquire a majority stake in Emera. The transaction was highly competitive, involving bidders from both strategic industrial backgrounds and infrastructure funds. To secure the deal, the acquirer formed a partnership with one of its primary subscribers to cover the equity requirement for the "upper mid-cap" valuation. The founding family and the management team significantly reinvested in the operation, with the founder of a major industry peer also joining the round as a strategic minority partner