Germans join race for Mater Private

It is one of three firms believed to still be in the running...

Germans join race for Mater Private

Photocall file photo

It has been reported this morning that the publicly-quoted German healthcare group, Fresenius, has emerged as one of three final suitors to acquire the majority stake in the Mater Private Hospital, being sold by the London-based venture capital company, CapVest.

Fresenius is Germany’s largest provider of inpatient and outpatient care. It generated close to €500m profits last year and employs close to 70,000 people - The Irish Times reports that it is one of the parties it the running to take control of the Dublin hospital.

The other two final bidders for the Mater Private are understood to be private equity investors, including the Australian firm, AMP Capital.

The Irish-based private equity firm, Carlyle Capital Ireland, in which Enterprise Ireland has a stake, is understood no longer to be in the running.

It’s not clear at this stage if the successful bidder for CapVest’s majority stake in the Mater Private would also seek to buy the substantial minority shareholding of management and staff.

The Mater Private, which has an annual turnover of close to €200m, also has a 75-bed facility in Cork and treatment centres in some other cities and towns.