Quirónsalud is the leading private healthcare operator in Spain. It manages a nationwide portfolio of over 80 hospitals and medical centres offering best-in-class facilities with a staff of over 26,000. Quirónsalud has a proven reputation for efficiency and service, advanced technology, research and teaching, and a commitment to quality.
Creating a healthcare leader in Europe
Creating a healthcare leader in Europe
In 2011, Víctor Madera, the founder of one of Spain's largest healthcare operators, IDCSalud, was looking for a partner who could help him expand his Madrid-focused hospital portfolio across the whole Spanish market and potentially into other European territories.
CVC knew IDCSalud well, having originally invested in it in the late 1990's. CVC believed Víctor Madera had an exciting vision for the business and felt CVC could help make it reality. The underlying Spanish economy was going through crisis in 2011 and many investors were pulling out of Spain. By contrast, CVC's twenty years local presence in Spain enabled CVC to have the conviction to back Víctor Madera and invest in his vision of creating the leading private healthcare operator in Spain.
CVC partnered with Víctor Madera and took a majority stake in IDCSalud. Using its industry knowledge and local expertise, the CVC Spanish team worked alongside management to prepare the company for its new phase of expansion.
- The quality of service available across all hospitals was improved
- Management and the organisational structure were reinforced to improve efficiencies
- The corporate development function was enhanced ahead of major greenfield projects and future M&A activity
- A series of acquisitions were completed across Spain to increase the company's footprint and offer better services to more patients
Achieving market leadership and broadening horizons
When the opportunity arose in 2014 for IDCSalud to join forces with Quirón, Spain's largest private hospital operator, CVC recognised how transformational the merger could be. With increased scale and geographic diversity, the combined group would be the clear leader in the Spanish hospital market, and well-positioned for future expansion. CVC supported management with the integration of IDCSalud and Quirón, creating Quirónsalud and the resulting synergies.
Having transformed the business into the largest hospital operator in Spain, CVC sought a new partner who would enable Quirónsalud to continue to achieve its aim of providing the best healthcare to as many patients as possible. In 2016, CVC found such a partner in Fresenius Helios, the global healthcare group, which acquired Quirónsalud for €5.8 billion, creating a European leader in hospital management.