Fidelidade sells Saudeinveste fund for €200M

Icade Santé and Icade Healthcare Europe from the French group Icade, has purchased the health fund Saudeinveste from Portuguese insurer Fidelidade for €200 million.

Saudeinveste has a portfolio of property in Portugal comprising four private hospitals. CBRE Capital Advisors acted on behalf of Fidelidade as the real estate advisor in the sale. The transaction involved a multidiscipline team from CBRE Portugal, Spain, the UK and the Netherlands.
The portfolio includes three hospitals operated by the Grupo Lusíadas in Lisbon, Porto and Albufeira, and also the Hospital São Gonçalo de Lagos run by the Group HPA Saude.
Located in the centre of these cities, the four hospitals cover a total area of 90,000m2 and have 300 beds. With a good performance in international standards classifications, the hospitals provide a wide range of medical specialities and have the latest equipment. The hospitals in Porto and Lisbon are among the best health establishments in Portugal.
The operation marks Icade’s entry into the health real estate segment in Portugal as part of its expansion strategy in the markets of South Europe, after the recent acquisition of hospitals in Italy.