Healthcare Activos has launched Healthcare Activos Hospitals, a vehicle dedicated exclusively to hospital properties, which starts with an investment target of €800 million and involves long-term institutional investors already associated with the management company.
The fund will focus its activities on the United Kingdom, Spain, Portugal, Ireland and Italy – markets where it plans to finance the acquisition, development, expansion and modernisation of private hospitals. The firm links this strategy to the ageing population, growing waiting lists in public healthcare systems and the expansion of health insurance.
Its first transaction involves three centres located in Lisbon, Porto and Albufeira, acquired from a fund managed by Praemia Reim on behalf of several French investors, including Icade. The total value amounts to €250 million, including the planned work to expand and modernise the facilities.
The assets, which will continue to be operated by Lusíadas Saúde, part of the French hospital group Vivalto Santé, comprise 90,000 sqm, 350 beds, 21 operating theatres and 255 consultation rooms. According to figures provided by Healthcare Activos, they generate revenue of around €300 million.
The management company stated that it maintains a portfolio of opportunities to acquire and develop new centres in partnership with European operators, through long-term triple-net lease agreements with rents indexed to inflation.
Following this acquisition, the total amount invested by Healthcare Activos stands at €1,600 million across seven European countries. Of this figure, €1,200 million corresponds to care homes, mental health and rehabilitation centres, while the remaining €400 million is concentrated in hospitals and clinics.
Its plan is to allocate between €350 and €400 million annually to the various healthcare sectors in which it operates, with the aim of increasing its portfolio to €3,000 million by 2030.
