A deal for Medibank Private to buy into Cura Group day hospitals is understood to have collapsed.
The understanding is that Medibank and Cura had reached an agreement where the insurer would buy a stake in the business, but a deal was yet to settle. It is now thought the deal failed to complete.
Cura has been in talks with Australia’s largest health insurer, which has been wading deeper into the area of asset ownership. Cura is 70 per cent-owned by Fresenius Medical Care, which purchased the stake in 2017 from Intermediate Capital for a price believed to value the company at more than $400m.
Cura is the largest day hospital owner across Australia, with 19 assets and in the year before it was purchased by Fresenius in 2016, generating $127m of revenue.
Medibank is Australia’s largest private health insurer with a market share of about 27 per cent ahead of Bupa and its value on the ASX is $8.9bn.
In 2020 it purchased a 49 per cent stake in East Sydney hospital in Woolloomooloo.
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