USP

Activity
Hospital operator
Transaction value
€675 million
Acquired
Sep 2007
Realised
Jul 2009
Sector
Healthcare

Business
USP is a Spanish private hospital operator and in 2007 had 33 facilities that included 13 hospitals, outpatient centres, imaging centres and other healthcare-related facilities in key markets such as Barcelona and Madrid. Insurers and self-pay customers accounted for more than 80% of USP's revenues.

Strategy
The strategy was to Invest in USP as a platform to consolidate the Iberian private healthcare market through add-on acquistions.

Outcome
In 2009, due to market conditions, Cinven restructured the business in a consensual agreement with USP's banks to agree an exit from the business.