EPF weighs RM8bil sale of UK private hospitals

The Star

3 days ago

The fund has appointed broker Knight Frank to offer the 12 properties for sale.
KUALA LUMPUR: The Employees Provident Fund (EPF) is preparing to sell a portfolio of UK private hospitals that are valued at about £1.4bil (RM8bil).
The fund has appointed broker Knight Frank to offer the 12 properties for sale, people with knowledge of the process said.
The hospitals, which an EPF-led consortium bought for about £700mil in 2013, are operated by Spire Healthcare Group Plc, the people said, asking not to be identified as the process is private.
Representatives for the EPF and Knight Frank declined to comment.
Healthcare property has seen a flurry of interest this year, as investors seek out alternative assets with long-term indexed-linked leases.
KKR & Co is vying with Primary Health Properties Plc to buy Assura Plc, a UK landlord that mostly owns doctor surgeries as well as a portfolio of private hospitals that it bought for £500mil last year.
Aedifica SA agreed Tuesday to buy rival Cofinimmo in a deal that creates a healthcare real estate investment trust with a combined gross asset value of more than €12bil.
The use of private healthcare in the United Kingdom has grown as the country's National Health Service (NHS) struggles to bring down waiting lists that were swollen during the pandemic.
A record 4.7 million had private health insurance through their employer in 2023, according to data compiled by the Association of British Insurers last year.
The NHS also uses private hospitals to carry out procedures. The state backed healthcare provider spent £2.1bil in private hospitals last year, according to a report by LaingBuisson. It spent a further £1.5bil at private clinics.
The UK government announced earlier this year that the NHS would use private healthcare to carry out additional appointments, scans and operations in order to reduce waiting times. — Bloomberg