Cleary Gottlieb represented Bridgepoint in connection with the combination between MédiPôle Partenaires, a Bridgepoint portfolio company, and Elsan.
MédiPôle Partenaires is the third-largest operator of private hospitals in France. It currently manages 62 facilities and treated more than 1 million patients in 2015. MédiPôle Partenaires works with approximately 2,500 physicians and employs approximately 9,000 health care and administrative personnel on a full-time basis. In 2015, MédiPôle Partenaires generated consolidated revenues of approximately €866 million.
Elsan is the second-largest operator of private hospitals in France. It currently operates 80 private hospitals, treats more than 1.2 million patients, employs approximately 14,000 employees, works with approximately 4,000 physicians and generated consolidated revenues of €1.2 billion in 2015.
The combination was subject to the approval of competition authorities. On January 31, 2017, the European Commission referred the review of the acquisition to the Autorité de la concurrence. The Autorité de la concurrence cleared the acquisition on June 23, 2017, subject to conditions. In accordance with French law requirements, a works council consultation process was implemented; it was completed February 13, 2017. The transaction closed on June 29, 2017.