Macquarie Lending, the investment arm of the Australian bank Macquarie, has provided a €300 million whole loan financing of a private hospital based in Ireland, according to Real Estate Capital’s sister publication, Private Debt Investor.
The debt financing follows failed attempts by private equity sponsor CapVest to sell its majority stake in the hospital. Earlier this year, German investment firm Fresenius had come close to signing a €500 million package to acquire the stake, but it was ditched at the last minute by the board. Other bidders were reported by the Irish Times to be interested in acquiring the stake, including AMP Capital and Carlyle Cardinal Ireland, but neither deal went through.
CapVest acquired its 51 percent stake in the hospital, which generates around €200 million in revenues every year, almost a decade ago. The private hospital specialises in cardiology and oncology, providing round-the-clock care to emergency cardiac cases.
Andrew Honan, senior managing director for Macquarie Lending Europe, said: “We structured the transaction to specifically address the requirements of The Mater Private Hospital and the nature of the underlying private healthcare business.”