19 April 2018 – Eje Prime
Healthcare Activos is preparing to make the leap onto the stock market in the next few years. The investment arm owned by the former CEO of the former company Sarquavitae, nowadays the DomusVi Group, in Spain, and Oaktree Capital are confident that the entity will make its debut on the Alternative Investment Market (MAB) within an estimated period of two years.
According to explanations provided by Jorge Guarnar, the CEO of Healthcare Activos, “first, we will tackle the technical debut on the MAB and then we will look to other markets”. But to list on the stock market, the investment vehicle specialising in the medical and hospital business plans to first accumulate a property investment portfolio in Spain amounting to around €500 million.
The group’s first investment took place in December 2016, when Guarnar’s firm purchased four buildings, which are now leased to the nursing home operator Amavir.
Since that purchase, to date, the group has invested €108 million, of which €62 million was disbursed in 2017 and the remaining €46 million has been invested since 1 January 2018.
The aim of Healthcare Activos is to invest €150 million every year over the next three years, which means that to fulfil its objective for 2018 it needs to invest around €40 million.
For the time being, the company owns eleven assets in total, located all over Spain. The most recent purchase by Healthcare Activos came in February when the company purchased three nursing homes for €40 million.
On that occasion, the investment vehicle teamed up with La Saleta Care, which is responsible for the management of the centres, to execute the operation. The nursing homes are located in Gijón, Burgos and Valladolid, and belonged to the Baugestión group, which is now under the umbrella of La Saleta Care. The three properties contain 525 beds and 112 day centre places and span a combined surface area of 22,000 m2.
Healthcare Activos, which is headquartered in Barcelona, is chaired by Guarnar, who previously served as the CEO of Sarquavitae, the leading Spanish company in the nursing home sector, for twelve years. The representatives of Oaktree Capital include its Director General, Karim Khairallah, and the restructuring expert, Carlos Gila.
In addition to Guarner, the company comprises five other people. Ramón Gallofré holds the position of Project Director; Olga Alonso is the Operations Director; Enric Palar, the former Finance Director of Goldcar and eDream, heads up the Finance team; Thierry Ignoin is the firm’s lawyer; and the former Deloitte employee Miki Domenech is the Director of Investments.
Currently, the top five companies in the nursing home sector have a combined market share of 15%. According to Guarnar, this fragmented scenario is ripe for the leading companies to continue growing to form large groups.
Original story: Eje Prime (by A. Escobar)
Translation: Carmel Drake