Firm backed by Italy’s Gruppo San Donato could bid for NMC Health

GKSD Investment Holding confirmed on Tuesday that it could make an offer to buy NMC Health (NMC.L), a day after the London-listed healthcare group revealed approaches from two private equity groups.
GKSD, an investment vehicle backed by sponsors of Italy’s private hospital chain Gruppo San Donato (GSD), said it was in the preliminary stages of considering an offer for NMC.
GKSD is being advised by GK Investment, which made the approach to NMC on its behalf, the firm said. Rothschild & Co and Goldman Sachs are also acting as advisers.

GSD, founded here in 1957, operates research hospitals, general hospitals and clinics in 44 locations across Italy and calls itself the country’s largest private hospital group.
The announcement sent shares in UAE-based NMC as much as 10% lower before they recouped some losses to trade down 1% at 914 pence as of 0839 GMT.
The company’s shares closed 32% higher on Monday after it said KKR (KKR.N) and GK had approached it, giving the stock a boost after falling sharply following queries by Muddy Waters last year over its financial statements.

U.S.-based KKR had declined to comment on NMC’s statement on Monday.
Lugano, Switzerland-based GK, focuses on investments primarily in Africa and the Middle East across multiple sectors. Historically, it has invested in oil service assets in Italy and the Middle East, its website www.gkinvest.com/en shows.
Reuters reported here last year that NMC was also the target of two groups, one backed by China’s Fosun, looking to buy a 40% stake in it.
https://www.reuters.com/article/us-nmc-health-offer/firm-backed-by-italys-gruppo-san-donato-could-make-offer-for-nmc-idUSKBN2050O2