F2i invests in hospital services management with the acquisition of HISI
An agreement has been signed to acquire 100% of the company that manages the Legnano and Alba-Bra hospitals. CEO Ravanelli: "A platform for further growth in the healthcare public-private partnership sector"
Milan, 23 December 2022 – F2i Sgr, Italy’s leading infrastructure fund manager, has reached an agreement to acquire HISI – Holding di Investimento in Sanità ed Infrastrutture, an investment platform in the hospital public-private partnership sector. HISI holds the concessions for the management of non-healthcare services of the Nuovo Ospedale di Legnano, in Lombardy, and the Alba-Bra Hospital, in Piedmont. The sellers are connected with the French infrastructure fund Ardian and the Dutch pension fund APG.
The Nuovo Ospedale di Legnano (Milan), covering an area of 70 thousand square metres, has 550 beds and 19 operating rooms and commenced operations in 2010. The Alba-Bra Hospital (Cuneo) is a 140 thousand square metre facility, with 11 operating rooms and 350 beds, which began operations in 2020.
F2i Sgr will complete the acquisition on behalf of the "Ania F2i" fund, making this its fifth investment, following those in the rail freight, airport, port and gas storage sectors.
Following its investment in Althea (a market leader in the management of biomedical technologies in public and private hospitals), the acquisition of HISI represents another public-private partnership (PPP) by the AMC in the healthcare sector. Through HISI, F2i plans to pursue other investment opportunities in Italy for the construction of new hospital facilities and their efficient management.
Renato Ravanelli, F2i Sgr’s CEO, had this to say about the transaction: ”By entering the hospital infrastructure and services sector, F2i aims to contribute to the modernisation of the country and to people's health. The NRRP has allocated approximately € 4 billion for the construction of new healthcare facilities and the modernisation of existing ones. The public-private partnership is the preferred and most efficient way of making these investments, which are fundamental for our country. It is characterised, on the one hand, by hospital facilities that were built, in most cases, over 50 years ago; and on the other, by the availability of 3.2 beds per thousand inhabitants, which is well below the European average of around 5.”
The investment in HISI meets the stringent sustainability requirements that guide the actions of the Ania F2i Fund, based on identifying companies operating in the infrastructure sector that can combine industrial growth and continuous improvement in the environmental, social and governance (ESG) context. Support for modernisation of healthcare infrastructure falls squarely within these objectives.
With this investment, the Ania F2i Fund contributes to the United Nations Sustainable Development Goals (SDGs), particularly goal no. 3, Good Health and Well-being.