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September 2017 United Health Creates Largest Emerging Markets Provider New Falck Emerging Markets September 2017 NEWS New Falck CEO “systematically Global examining business” after first half World Bank looks at health 5 losses South East Asia Jacob Riis, new CEO at Falck, the international ambulance, fire service and Consolidatory moves 6 healthcare group, admits H1 2017 results were “not satisfactory” and says he is Malaysia looks to Kazakhstan 6 “systematically examining” the business. Could this be with a view to a sale? Indian diagnostics expands 6 HCN speaks to an informed source amid speculation that we might soon see a sale of Falck’s healthcare services business – which unlike the rest of the busi- China ness is doing rather well. Strong Wenzhou posting 7 Private market catches break 7 With a proud history going back over 100 years, Falck is active in 46 countries Arrail Dental raised $90m 7 on six continents, and has the world’s largest international ambulance fleet (and to be the largest provider of fire services). It is Scandinavia’s largest provider India of occupational health solutions, and provides almost 5 million people with Healthspring partners 8 healthcare services, with a presence in Asia, Latam and elsewhere in Europe. Government hits profits 8 On top of this, it runs roadside assistance. Warburg eyes Indira IVF 9 Medicover spends $21m 10 Yet something has gone wrong. H1 revenue was up by less than 0.5% to DKK Sodexo outsourcing sights 10 8,058m (€1,083m). And EBITDA dropped by 54% to DKK 309m (€42m) with IDFC takes slice of ASG 10 the EBITDA margin more than halving to 3.8 per cent, and pre-tax losses plum- meted from DKK 8m to DKK 366m (€49m). There were write downs relating Latin America to receivables from the “more challenging” US emergency market and from a Orpea gets a Brazilian 11 new customer management system, totalling DKK £382m (€51m). Page 2 Middle East & Northern Africa 10,500 new beds? 14 NMC Health flashing cash 14 United Health creates largest Healthcare city 15 emerging markets provider Africa US insurer United Health has agreed a friendly deal to buy Banmedica, the Joburg acquisition hunt 15 integrated payor-provider that covers Chile and has moved into Colombia and Abraaj in Kenya 16 Peru. The deal values Banmedica’s equity at US$2.8bn. INTERVIEWS The move complements United’s 2012 US$4.9 billion acquisition of a majority Dr Katherine Tulenko, of big Brazilian integrated payor-provider Amil. Healthcare Business Interna- IntraHealth 17 tional estimates the combined group would give United private hospital reve- Nico de Waal, nue of around US$3.3bn, giving it more revenue in Emerging Markets (defined PSG Alpha 18 as everywhere excluding Europe, North America, Australia, Japan and Korea) Teo Sandra, than any other player. Sphera Global 20 Wilson Mayor Mogollon, United is due to speak at Healthcare Latam 2017, in Sao Paolo, Brazil, the first Fasecolda 22 Pan-Latam event focused entirely on healthcare services. INSIGHT Chile-listed Banmedica had revenue of US$2.3bn in 2016, of which its CEO Flurry at Fleury 12 told us at HBI 2017 that $1.5bn was from its hospital and health- Page 4 Educating Drs 24 Future of insurance 25 www.healthcarebusinessinternational.com HCN news HCN news Emerging Markets The Top 900 Falck CEO “systematically examining business” - cont Database For the first time ever, you can buy a database which covers ALL So is Falck – or part of it – for sale? that it had itself put in at 15% under there were problems. The company the largest private sector players in healthcare services across What companies does the database cover? its going rate, the source says. was heading to the point of no return Emerging Markets.... One source says there are interested and was trying to have some kind of parties looking to carve off healthcare “That confirmed the original bid was Ambulance and Air Ambulance Services 3 global dominance. There was around Hospitals, nursing homes, psychiatric, imaging, labs, medicalised services and making enquiries. too high.” Cosmetic Surgery 13 zero bottom line in the US ambulance homecare – all are covered and classified by type from Chile to China He tells us: “If I were the owner He claims: “Steps were taken to make service. Sweden, money was lost. and from Morocco to Indonesia. For each company, you will find a Dentistry 25 short profile plus contact details, including phone numbers, physical of Falck, I’d instruct the CEO to sell the situation for Baus difficult. Falck Germany, money was lost. Spain and Dialysis 10 address, a link to their website and 1-3 contacts. These normally off the healthcare business immedi- could have rented the stations. And it Latam were ok but in total it was a include the company’s CEO. We include the most up to date actual or Fertility 7 ately. People must be looking at Fal- offered staff higher salaries in other disaster.” estimated sales for all companies. We also record all known Hospital (Private) 429 ck’s healthcare services. But whether parts of Denmark and paid travel re- Then in December 2016, CEO Allan private equity investors, listing private equity participation for Imaging Services they will sell it off is another thing.” imbursement.” Søgaard Larsen stepped down after nearly 100 operators in total. The database also identifies the 100 Insurer 11 operators who are listed on stock exchanges. He adds that to understand Falck’s Falck had been enjoying appar- 25 years with the company, to be re- Laboratory Services 57 present predicament, you have to look ent huge success with “astonishing placed in May by Jakob Riis. This sophisticated online database is updated during the year. Medicalised Homecare 4 at its history. growth” from 2004 until 2015. Our source claims that the writing Additions mean it will continue to grow. As the industry changes, Nursing Homes 5 He explains: “Falck in Denmark (in The source claims: “Falck used mo- was on the wall for Søgaard when so will this database during the course of your annual subscription. Oncology You can search online using pre-set searches or buy a power-user ambulance service provision) has had nopoly money – taxpayers money Lundbeck parted ways with its for- Ophthalmology 24 an incredible monopoly. Over the from Denmark – to acquire compa- mer non-executive board chairman version, which allows Excel downloads. Outpatient 18 years it has used that monopoly and nies all over the globe without enough Lars Nørby Johansen who enjoyed a How we built this database taxpayer money to buy up the oppo- strategy about how to operate them, “symbiosis” with Larsen. Primary Care The product of a four month programme, the database is built on our sition. without enough strategy to harvest Rehabilitation 4 Other departures have followed, the contacts across Emerging Markets and on original research. We the synergies, and without enough Other types 15 “It was scared by the competition source claims, with “more than 50% have also used other proprietary databases and web research to strategy to govern those companies. from (Swedish company) Ulfab so it of senior management” having de- ensure the database is comprehensive. bought it. It bought a German compa- “During the (private equity investor) parted the company. In which countries? Page 4 ny, and 9Lives in Denmark, again to Nordic Capital era of the company Use this database to.... protect the monopoly.” before 2011, it had a clear vision: Angola 4 Malaysia 1 Grow as fast as possible then IPO. Swiſtly identify ALL potential investments or acquisitions What it didn’t do, our source claims, Argentina 25 Mexico 2 It was very successful but although You can swiſtly identify all potential targets, safe in the knowledge that is consider synergies as much as they Bangladesh 5 Morocco 5 things seemed in order on the surface you are working with a complete data set. For example, you could could have. Brazil 19 Nigeria 18 it was sowing the seeds of disaster for search for all hospital groups in India with sales of over $30m. Or all lab groups in Asia. Chile 18 Pakistan 4 There was also an unforeseen chal- the future. Nordic Capital got out pre- At a glance China 8 Peru 14 lenger, Baus in Holland which bid for cisely at the right time. Falck operates medical services Falck’s director of group communi- Analyse markets and marketshare and won the contract to run ambu- and clinics in Denmark, Sweden, Colombia 20 Philippines 10 “In 2011, the Lundbeck Founda- cations, Kaspar Bach Habersaat, tells This data gives you a clear picture of how consolidated different lance services in Southern Denmark, Costa Rica 10 Saudi Arabia 10 tion took over. By 2015 it was clear us:Norway, “In May, Poland, Jakob Russia, Riis was Slovakia, appoint - markets are and enables you to understand real market share. undercutting by 15% a bid from Falck edUK, CEO Australia, of Falck Papua and New defined Guinea, and Ecuador 11 Singapore 28 appointedIndia, Malaysia, his new Colombia, senior executive Uru- Understand strategy Egypt 20 South Africa 18 team.guay andThe Venezuela.group was Inadjusted addition from Used in conjunction with the interviews and news stories carried in Hong Kong 15 Sri Lanka 7 Falck delivers doctors-on-call Healthcare Nova, this product enables you to understand the corporate close to 30 people to ten who were all India 97 Tanzania 4 services in Colombia, Ecuador, strategies being pursued by different companies. in different positions in Falck or have Indonesia 17 Thailand 9 broughtEl Salvador, expertise Panama, to Falck Uruguay from other Israel 5 Tunisia 5 companiesand Venezuela. in related industries.
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