ABN sells Italian hospital group.

ABN AMRO Capital has sold its 15% interest in Humanitas, an Italian private hospital business, to existing shareholders Techint Group and Centrobanca. The fund acquired its stake in July 2002 through ABN AMRO Ventures, from a consortium of investors, including Italian private equity firm 21, Investimenti, De Agostini and Gesep BV, which acquired the 15% stake in 1999.

Over that last three and a half years, Humanitas has doubled the size of its hospital space by adding 300 new beds and opening two casualty departments. Revenues have grown by a compound annual growth rate of 13.6% and EBITDA by a CAGR of 9.5%.

Founded in 1988, Humanitas runs five private hospitals across Italy: Istituto Clinico Humanitas in Rozzano, Milan, Humanitas Gavazzeni in Bergamo, Cliniche Fornaca di Sessant e Cellini in Turin and Centro Catanese di Oncologia in Catania. The group has a combined capacity of 1,157 beds and an occupation rate of 70%. The group employs 2,423 staff, two-thirds of whom are physicians and nurses.