Healthcare is consistently a key sector for mergers and acquisitions (M&A), at both a domestic and cross-border level.
Economies of scale, synergies, access to resources, cost-effective alternatives, access to talent and tax benefits are the key benefits of M&A. Cross-border deals also offer geographic expansion, access to new markets and diversification. However, they are seen as more complex transactions, which explains why domestic deals outnumber cross-border ones in several sectors including healthcare.
Nevertheless, Investment Monitor has identified three cross-border deals that have been key for the healthcare sector in 2022.
Pure Health acquires minority stake in Ardent Health Services
Pure Health, the United Arab Emirates (UAE)-based healthcare platform, has signed an agreement to acquire a minority equity investment in US-headquartered Ardent Health Services for $500m (Dh1.84bn).
Pure Health is acquiring an interest in Ardent from its majority owner Equity Group Investments, a Chicago-based private investment firm.
It is understood that the deal will help Pure Health expand its footprint in the US healthcare market.
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“This is an exciting opportunity for Pure Health, as we continue to build relationships with leading US healthcare providers to leverage the highest standards and best clinical practices to provide an unrivalled healthcare experience for patients in the UAE,” said Pure Health CEO Farhan Malik in a press release.
Sagicor enters agreement to acquire Ivari
Sagicor Financial Company, a financial services provider based in the Caribbean with a growing presence in the US, has entered into a definitive agreement to acquire Ivari, which provides individual life and critical illness insurance solutions for the Canadian middle-market. Ivari, which is headquartered in Toronto, is a subsidiary of Wilton Re.
The $325m acquisition is set to close in 2023, subject to regulatory approvals.
The deal comes as Sagicor is seeking to expand into new geographies. More specifically, the press release states that “the acquisition of Ivari aligns with Sagicor’s business strategy of growing in individual life insurance and diversifying into adjacent geographic markets”.
Camplify agrees to acquire PaulCamper
Camplify Holdings, the Australian peer-to-peer caravan hire and RV-sharing marketplace, has agreed to acquire 100% of the shares of PaulCamper, a German company that provides a peer-to-peer RV rental marketplace, and PaulCamper Insurance Broker, the insurance broking company of PaulCamper.
The deal is set to help Camplify expand its business in Europe. “This acquisition delivers Camplify a strategic and targeted growth opportunity in Europe, securing the largest key market, Germany. It provides Camplify with an excellent team of digital marketplace professionals based in Europe, allowing us as a group to optimise and look for expansion opportunities,” said Camplify CEO and founder Justin Hales.