Quirón Group to merge with IDCsalud

Quirón, the largest private hospital group in Spain, is to merge with IDCsalud, the leading private healthcare operator. The transaction is expected to be completed before year end and, following the completion of the merger, funds advised by CVC Capital Partners ("CVC") will control the combined group. The merger of Quirón with IDCsalud is part of a strategy aimed at building one of the leading hospital groups in Europe, capitalising on the trend of healthcare consolidation in the region.

The combined group will operate 80 hospitals, healthcare centres and elderly care homes with over 17000 employees and more than 7000 freelance doctors, making it the largest operator in Spain and a top five operator in Europe. With six university hospitals and the only certified private medical research institute in Spain, the merged group has a deep and long term commitment to education and research.

IDCsalud has grown significantly with CVC's support since 2011 to become one of the major operators in the industry. It now operates 28 health centres with 2,090 beds and employs over 9,000 people.

Quirón operates 21 hospitals with a total of over 2,800 beds across Spain, as well as four fertility treatment centres and a number of consultation centres and day hospitals. The group currently has over 8,200 employees.

The merger is the latest of a number of major Spanish transactions led by CVC's Madrid office.