PRIVATE hospitals operator Ramsay Health Care and its European partner have secured control of French hospital group Generale de Sante.
Generale de Sante operates 75 health facilities in France, including 61 hospitals.
The addition of Generale de Sante will lift Ramsay’s number of health facilities in France to 115, including 101 hospitals, making Ramsay the largest the largest private hospital operator in France.
The company and financial services provider Credit Agricole Assurances have acquired 83.43 per cent of Generale de Sante, with Ramsay’s 57 per cent share of the acquired stake to cost it about 429 million euros ($627 million).
After allowing for the tender offer process, Ramsay will potentially pay up to 515 million euros to acquire a maximum interest of 57 per cent in Generale de Sante.
Ramsay shares were up 17 cents at $44.71 at 1040 AEST.