Fosun unit to divest 40% stake in Portugal’s Luz Saude to Macquarie-linked firm

Fosun International, a Hong Kong-listed Chinese conglomerate, announced on Friday that its unit has reached an agreement to sell a 40% stake in Portugal-based hospital operator Luz Saude for 310 million euros ($362.92 million) to an entity connected to Australia’s Macquarie Group.

The deal was made by Fosun-controlled Portuguese insurer Fidelidade with MEIF 7 Med Holdings, a company affiliated with Macquarie European Infrastructure Fund 7, managed by Macquarie Asset Management. Following the completion of the transaction, Fidelidade will retain 59.86% of shares and voting rights in Luz Saude.

The sale of the stake comes at a time when private equity firms are showing increasing interest in Portugal’s healthcare sector. In recent years, France’s Vivalto Sante acquired Lusiadas Saude, one of the country’s leading hospital operators, while Spain’s MCH Private Equity purchased a minority stake in Sanfil-Global Health.

Luz Saude is a major player in Portugal’s private healthcare industry, operating 30 hospitals, clinics, and nursing homes across the country. Fidelidade had considered listing Luz Saude on the Lisbon stock exchange last year but decided against it due to market instability caused by geopolitical tensions in the Middle East.

Fosun first entered the Portuguese market in May 2014 by acquiring Fidelidade for approximately 1 billion euros. Currently, Fosun owns 85% of the company.

The healthcare sector in Portugal continues to attract attention from investors, and the sale of a stake in Luz Saude to Macquarie Group’s affiliated entity demonstrates the growing interest in the country’s healthcare industry. The completion of this deal marks a significant step for Fosun International and its presence in the Portuguese market.

(Reporting by Rajasik Mukherjee & Rishav Chatterjee in Bengaluru; Editing by Mohammed Safi Shamsi)