News & Views

2nd March 2017

Montreux Healthcare Market Update, 2016 summary

The Healthcare market has remained buoyant in 2016. Over the past year specialist care providers saw six completed transactions, exhibiting a wider market motivation to consolidate smaller providers. Notably Cambian sold its adult services business to Cygnet Health Care for £377m and an EBITDA multiple of between 11.5-15x.

In the wider healthcare market M&A activity remained strong with 121 deals completed, marking the second buoyant year in the space; 2015 seeing 123 transactions. It is clear that global capital continues its attraction to UK Healthcare companies with 29 transactions made by international acquirers. Private Equity firm interest remained high, most notably shown through the BC Partners acquisition of 22 mental health hospitals from The Priory Group. Private Equity firm interest is perhaps the most interesting trend to chart for Montreux Capital Management due to the potential exit strategy for the Healthcare Fund once the portfolio matures.

Oliver Harris, CEO of Montreux Capital Management stated: “2016 marks the second year in which we have seen strong investments in the healthcare space both domestically and internationally. Within Specialist Care, deal flow remains strong and international interest in acquiring larger businesses is good news for our long term plan with a potential exit on the horizon. Of course, at Montreux our investors are very familiar with the opportunity the specialist care sector presents but of course, it is encouraging to see our assertions strengthened by yet more global institutional investor interest in the space.”


The information on this site is intended only for the use of Independent Financial Advisors (IFAs) and other professionally recognised financial intermediaries & institutions.. Should you proceed to access this site, you will be representing and warranting that you are an IFA or other professionally recognised financial intermediary . What follows is not an offer or invitation to acquire an investment and should therefore not be relied upon by, any person in any jurisdiction where such an offer or invitation would be unlawful. Persons in respect of whom such prohibitions apply must not access this web site. None of the information contained on this site constitutes personal recommendations nor advice. Product details should always be read in conjunction with the appropriate offering documents. An application for any of the investment products on this page should be made having fully read not only the relevant application form, but also the relevant terms and conditions and offering documents. If you are unsure about the meaning of any information provided on this web page, then please consult your financial or other professional adviser. We do not offer investment advice.

This web site may contain or be linked to advice or statements of third parties. We make no representation as to the accuracy, completeness, timeliness or suitability of such information, and we have not and will not review or update such information and caution you that any use made of such information is at your own risk. Some of the information contained on this web site may also have been prepared or provided by third parties and may not have been verified by us. We hereby exclude any liability arising out of any preparation or provision of such information for the web site and makes no warranty as to the accuracy, suitability or completeness of any such information.

I agree, Continue

Information on this webpage relates to and is provided by Montreux Capital Management (UK) Limited

The content of this webpage should not be construed as financial advice. Any decision to invest should be made only on the basis of the relevant documentation for each investment. Past performance is not necessarily a guide to future performance. The value of an investment may go down as well as up and investors may not get back the full amount invested. Investments in small unquoted companies carry an above-average level of risk. These investments are highly illiquid and as such, there may not be a readily available market to sell such an investment. Montreux Capital Management (UK) Limited and Sapia Partners LLP (together "the Sponsors," or "Sponsor) do not provide specific individual advice on the suitability of investments with regard to a potential investor's individual circumstances, risk tolerance or investment objectives and investors should seek independent financial advice if they are in any doubt whether a product is suitable for them.

Montreux Capital Management (UK) Limited is an Appointed Representative of Sapia Partners LLP which is authorised and regulated by the Financial Conduct Authority.

I agree, Continue