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Spain: Vithas Group hits snag in Nisa Hospitals purchase

 |  July 12, 2016

Grupo Vithas, the Healthcare group headed by the Gallardo family and Criteria Caixa bank, has hit trouble in their attempts to buy Valencia based Grupo Hospitales Nisa and its seven healthcare centers throughout Valencia, Madrid and Andalucía provinces. Vithas, based in Madrid and with Catalan backing, has said it intends to complete the takeover in order to widen their network, becoming Spain’s second largest private hospital group.

While Vithas has managed to secure purchasing options from some of Nisa’s major shareholders (totalling around 30% of shares), the company has also met serious resistance from well-organized minority shareholders, who have launched a share-merger process in order to present a united front and “a position of strength.” Together, the resisting shareholders represent over 53% of NIsa’s active shares.

A number of these shareholders have considered Vithas’ move to be a hostile takeover, having rejected their offers and the extended two-year payment plan. As a result, Vithas decided not to press ahead with the initial round of purchases, whose options were to expire in late June.

Full Content: El Confidencial/a>

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