Garofalo Health Care: M&A race tightening - CS

Garofalo Health Care

26/04/2019 08:04

** Credit Suisse says that Italian private health care
provider Garofalo Health Care  GHC.MI  (GHC) has enough net cash
for more M&A which would consolidate the fragmented Italian
sector but faces stiff competition for quality assets
    ** Broker adds that GHC won't probably be able to use up its
financial resources in less than three years despite its
well-structured process for integrating acquisitions
    ** Competition comes from tightly-held operators and rivals
such as France's Korian  KORI.PA  and South Africa's Life
Healthcare  LHCJ.J , according to CS
    ** Broker raises PT by 10 pct to EUR 4.40 after "robust" FY
results, expects investments outflows of EUR 51 mln in 2019 and
at least one more M&A deal by the end of the year


 ((RM: silvia.recchimuzzi.thomsonreuters.com@reuters.net))