Infracapital agrees to sell C2i to HISI, bringing three more hospitals into its portfolio.
HISI has agreed to acquire a 100 percent stake in Concessioni Investimenti Infrastrutturali ("C2i") from Infracapital, the infrastructure investment division of M&G Plc. C2i is a portfolio of PPP assets in northern Italy. It provides essential public services toVimercate Hospital, north of Milan, andEmpoli Hospital, west of Florence. It also provides energy toCareggi University Hospital, north of Florence.
Infracapital acquired C2i in 2016, and during its management, C2i successfully completed part of the construction and commissioning of Empoli Hospital on time and on budget, and managed three hospitals in the portfolio, with a total of 2816 beds. C2i's reliability and flexibility were crucial during the Covid-19 pandemic, when the Italian healthcare system faced severe difficulties and a shortage of beds, especially in intensive care units.
Infracapital's investment in C2i was made through Infracapital Greenfield Partners I (IGP I). IGP I's strategy is to build, deliver, and operate essential infrastructure to meet changing societal needs and support long-term economic growth throughout Europe.
Michele Armanini, managing director of Infracapital, said, "C2i has played a critical role in public services in Italy under our management. It worked closely with health authorities to respond to changing needs during the pandemic. In addition, we are pleased to have added another exit to our greenfield strategy track record, creating value for our investors. We wish the company continued success."
Paolo Soldani, CEO of HISI Group, said, "We are pleased to have signed this agreement with Infracapital, which allows us to strengthen our presence in the healthcare PPP sector in Italy. We will strive to contribute to the further development of the three acquired entities in such a strategic sector for our country."
The C2i acquisition is a significant step for HISI in consolidating its position as a leader in the healthcare PPP sector in Italy. A sector in which it aims to improve and further develop essential healthcare infrastructure.
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