FRANKFURT, Oct 19 (Reuters) - Several buyout groups remain in the running for Alloheim, one of Germany’s top three nursing home operators, as its owner seeks to benefit from high valuations for healthcare assets, sources close to the matter said.
DomusVi, backed by Intermediate Capital Group, Verlinvest’s Armonea, as well as buyout group Nordic Capital are among those who have been asked to make a second-round bid for the company, they added.
Other bidders such as Centerbridge have been allowed to submit an improved bid after their initial offer was deemed too low, one of the sources said.
Alloheim, owned by private equity investor Carlyle, is expected to fetch about 1.1 billion euros ($1.3 billion), or more than 12 times its 2017 earnings before interest, tax, depreciation and amortisation of just below 90 million, they said.
Bankers are working on debt packages of around six times core earnings, which could be senior and subordinated loans and bonds or all senior loans, one of the sources said.
The private equity groups declined to comment or were not immediately available for comment.
The Alloheim sale comes after a string of similar deals in the recent past, including the sale of French peer DomusVi and Germany’s Casa Reha or that of German clinic chain Schoen.
Since Carlyle bought Alloheim from Star Capital in 2013, the buyout group has added to the business with a series of acquisitions.
Alloheim currently operates 155 nursing homes and employs 14,500 staff. ($1 = 0.8466 euros) (Reporting by Arno Schuetze; Additional reporting by Claire Ruckin; Editing by Maria Sheahan)