Hospital Corporation of America, an affiliate of private equity firm Kohlberg Kravis Roberts, announced today it has sold two hospitals, Clinique de Carouge and Hospital de la Tour, to real estate investment firm Colony Capital. Both are located in Geneva, Switzerland.
Terms of the deal were not disclosed.
In a statement, Michael Neeb, president of HCA’s international division, expressed his confidence in the continued success of the company’s endeavors following the acquisition.
“During the last couple of months, we have had the opportunity to get to know Colony Capital’s leadership team, and we are confident they share our commitment to maintaining a patients-first culture,” he said.
HCA was acquired late last year by a consortium of private investors including Bain Capital, Merrill Lynch and HCA management, as well as KKR. The transaction, completed in November 2006, was valued at approximately $33 billion (€24 billion).
Based in Nashville, Tennessee, HCA currently owns medical facilities throughout the US, as well as six hospitals in London.
Colony Capital, founded by Tom Barrack in 1991 and based in Los Angeles, has invested over $3 billion in real estate-related assets since its inception. The firm currently owns casinos in Atlantic City, the US Gulf Coast and Europe, as well as the Singapore-based Raffles hotel chain and the European hospitality chain Accor.