Sagesse Retraite Santé and Swiss Life Asset Managers have completed a transaction on 10 May 2022 whereby Swiss Life Asset Managers becomes a co-shareholder of SRS in a joint vehicle investing in Almaviva Santé.
Almaviva Santé is a private healthcare group created in 2007, which has become a major national player with a strong foothold in the Paris region and in the south of France. The Group currently manages 42 private facilities (up from 28 in 2017). It is the leading private hospital group in the South-East region of France, the second largest in the Ile-de-France region and in the city of Paris, and the fourth largest nationwide.
Almaviva Santé manages 4,200 beds, 250 operating and examination rooms, employs 5,700 people and partners with 2,000 private practitioners. It is well-known for its excellent reputation in all areas of surgery.
Swiss Life Asset Managers manages capital on behalf of the Swiss Life Group and its clients, focusing on principles of long-term strategic approach, capital preservation, generation of consistent and sustainable returns as well as responsible approach to risks. As at 31 December 2021, assets managed by Swiss Life on behalf of third-party clients amounted to CHF 102.8bn. Together with the investment mandates for the Swiss Life Group, total assets under management by Swiss Life AM stood at CHF 276.3bn.
Founded by Yves Journel, its main shareholder, SRS is a majority shareholder, or a significant minority shareholder alongside investors, in companies with combined revenues of nearly €3bn and more than 50,000 employees, including notably DomusVi, Almaviva Santé, Sedna France, Sedna Canada and Arenadour.
This represents a landmark transaction for CASE Corporate Finance, advising SRS, a major player in the private health and medico-social sectors in France.
CASE Corporate Finance acted as sole financial adviser to SRS in respect of this transaction.