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USP Hospitales (“USP”) was acquired by Fund V in April 2012.
A minority stake of Grupo Hospitalario Quiron (“GHQ”) was acquired by Fund V in July 2012. At the same time, Fund V reached an agreement with the Cordón Muro family (founding family and majority shareholders of GHQ) for the exchange of their controlling interest in GHQ into a company through which Fund V and the Cordón Muro family will control USP and GHQ, thereby creating one of Spain's largest private hospital groups.
The Fund V investment in USP and GHQ will result in a majority shareholding in the combined entity.
Headquartered in Madrid, USP is the third largest private hospital operator in Spain with 12 hospitals, 1 specialist clinic and 22 auxiliary clinics (over 1,200 beds). Headquartered in Madrid and Barcelona, GHQ is the fifth largest private hospital operator in Spain with 7 hospitals (over 1,000 beds) and 2 fertility treatment centres. Both GHQ and USP are focused on the provision of hospital services to the private insurance and self-pay segments. Both companies cover the wealthiest areas of the country and specifically have a strong presence in Barcelona, Madrid and Seville. The USP-GHQ combination offers a comprehensive range of services covering all medical specialties, with a particular strength in trauma, gynaecology, oncology, cardiology, neurosurgery and internal medicine.
Spain’s private healthcare sector is highly fragmented and USP offers a unique platform to create a larger hospital group and deliver the best possible care to private patients.