The nation’s largest private hospitals operator, Ramsay Health Care, is due to update the market on its first quarter performance on Friday where investors will also want an update on strategy after takeover talks with suitor KKR & Co fell over.

Sources suggest that a restructure or sell-off of its French assets is under consideration. One source suggested a management-led buyout with Predica, part of Credit Agricole, the second-biggest life insurer in France which is the other major shareholder in the French hospital group.