The healthcare sector is transforming continuously. The budget available for the entire sector is still growing, although at a slower pace. Ongoing price pressure forces healthcare providers and companies to find smart and innovative solutions. The need for transparency requires solid financial accounting, record keeping and reporting. Simultaneously, the market place offers substantial opportunity for new innovative players and concepts.
Clairfield Belgium covers the entire health care industry, including health care providers as well as suppliers of goods and services and regulatory bodies. Our main focus lies in conducting middle market/large M&A transactions and carve- outs as well as obtaining structured or corporate financing. We also provide advisory services and support in validating strategic ambitions. As a leader in this sector we publish a sector research report annually.
Team members responsible for Healthcare
Healthcare related transactions
€ 112m bond issue
On November 7 2017, Rivage Investment and Vivalto Home Belgium reached financial close on the availability of €100m in debt securities of which €53m was immediately raised.
The first tranche (€53m) was used to refinance the financial leases on seven of their nursing homes. This allowed Vivalto Home Belgium to benefit from the favourable interest rate environment. After developing a new financial model, Clairfield Benelux raised and closed in August 2018 slightly more than the remainder of the available funds (€48m). These funds will be used to acquire new nursing homes in the future.
The debt securities package is obtained under a project finance structure and will be repaid over a period of 30 years, with repayment taking place on the basis of a ‘sculpted’ payment schedule which is commonly used in project financing.
In March 2020, Clairfield raised an additional €11m in a third tranche for the renovation of one of the elderly care houses.
Vivalto Home Belgium is a Brussels based company engaged in providing residential services to elderly citizens.
Rivage Investment is a French alternative portfolio management and advisory firm with expertise in European infrastructure debt, private debt and listed equities. Their main clients are institutional parties such as pension funds and insurers.
€ 25m refinancing
Clairfield Benelux advised Medsen and Ceban on the refinancing of € 25m in credit facilities. Medsen and Ceban are portfolio companies of Van Lanschot Participaties. Medsen is a community pharmacy chain with 44 locations spread across the Netherlands. The compounding pharmacy Ceban prepares personalised medications on a semi-industrial scale.