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Pamplona Capital Management drops out of Medical Park buyout talks

1 Jul 2013

hospital_health_medical_170sqPrivate equity firm Pamplona Capital Management is reportedly no longer looking to buy a controlling stake in private equity-backed Turkish hospital group Medical Park.

Buyout major Carlyle last year hired Goldman Sachs and Credit Suisse to manage the sale of Medical Park, said Reuters, citing five banking and industry sources aware of the matter.

However, negotiations have taken longer than expected due to differences over the valuation of the business.

Pamplona entered into talks to buy MedicalPark earlier this year after TPG dropped out of discussions, but the sources told Reuters that TPG was back at the negotiating table.

Carlyle bought a 40 per cent interest in the company in 2009.

Back in May Pamplona agreed to invest $270m in US laundry company Coinmach Service Corp, as part of a $1.17bn leveraged buyout.

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