Information on the Target

Veneta Sanitaria Finanza di Progetto S.p.A. is the concession holder for the Ospedale dell’Angelo, also known as the New Hospital in Mestre, located in Venice-Mestre, Italy. Astaldi S.p.A. has recently completed the sale of its 59.4% stake in this essential healthcare facility, which has been in operation since April 2008. The New Hospital is recognized as a center of healthcare excellence in Italy, featuring 680 beds and occupying a total surface area of 260,000 square meters.

This transaction involves the transfer of 53.9% of the share capital from Astaldi S.p.A. and 5.5% from its investee, Astaldi Concessioni S.p.A., to Core Infrastructure II S. à r. l., an institutional infrastructure fund. Following the deal, Astaldi and Astaldi Concessioni will retain a small stake of 0.5% each, ensuring their continued involvement in infrastructure operations and maintaining strong ties with the local health authorities.

Industry Overview in Italy

The healthcare industry in Italy is one of the most advanced in Europe, with a significant emphasis on innovation and quality in healthcare delivery. The New Hospital in Mestre represents a fusion of state-of-the-art technology and comprehensive healthcare services, making it a lynchpin in the regional health system. The Italian government has invested heavily in healthcare infrastructure, promoting both public and private partnerships to enhance service delivery and operational efficiency.

Moreover, the Italian healthcare market is characterized by a growing demand for modern facilities and specialized services, driven by factors such as an aging population and rising health awareness. This shift has prompted the need for robust investment and collaboration from private and institutional stakeholders to ensure the sustainability of such initiatives.

Italy's healthcare sector also benefits from a highly skilled workforce, with numerous medical professionals and researchers making significant contributions to healthcare advancements. The increasing integration of technology in healthcare operations further highlights the country's commitment to maintaining its healthcare facilities at world-class standards.

As a result, strategic investments in healthcare infrastructure are deemed essential for meeting the future demands of both the public and private sectors, underscoring the importance of partnerships like the one established in this deal.

The Rationale Behind the Deal

This transaction aims to onboard a leading international partner to enhance the operational capabilities and financial support for the Ospedale dell’Angelo. By transferring a significant stake to Core Infrastructure II, Astaldi S.p.A. is allowing a financially sound institutional investor to take a commanding role in the hospital's operations, ultimately aimed at ensuring long-term sustainability and efficiency.

Furthermore, involving Core Infrastructure II facilitates access to extensive resources and expertise, which can be applied to drive innovation and improve healthcare service delivery in the region, an important consideration in an industry where advancement is essential.

Information about the Investor

Core Infrastructure II S. à r. l. is an institutional infrastructure fund managed by Mirova S.A., a subsidiary of OSTRUM Asset Management Group. The fund specializes in responsible investments and is known for its commitment to sustainable development across various sectors, including healthcare. Mirova focuses on projects that promote environmental and social benefits while ensuring a profitable return on investment.

The firm is recognized for its expertise in managing large-scale infrastructure projects, which positions it as a suitable partner for Astaldi S.p.A. in the continued operation of the New Hospital in Mestre. The strategic alignment of both parties is conducive to fostering innovation and improving the overall healthcare offerings in the region.

View of Dealert

Dealert considers this transaction a promising move for all parties involved. The sale not only aligns with Astaldi S.p.A.'s strategic goals but also ensures that the New Hospital continues to receive the necessary support from a reputable investor. This investment is expected to enhance the operational efficiency of the hospital and potentially set a precedent for similar future partnerships within the healthcare sector in Italy.

Moreover, the partnership with Core Infrastructure II opens avenues for further improvement in the hospital's infrastructure and service offerings, creating a positive impact on patient care. Having an institution like Mirova involved signifies a commitment to sustainable practices, which can greatly boost the hospital’s reputation and operational standards.

In conclusion, this deal appears to be a sound investment, merging private sector efficiency with public health aspirations. With Astaldi's continued interest and support in governance, the maintainability and operational focus of Ospedale dell’Angelo are assured, making it a valuable entity in Italy's healthcare landscape.

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