“The War Of The Wards”
In the July 22, 2010 issue of The Economist, Booz & Company Senior Partner Gary Ahlquist said as a growing number of investors seek to purchase hospitals around the world, they are challenged somewhat by a supply of top-notch hospitals that is rising only slowly. Triggering the big trend is a global demand for high-quality health care as rich countries age and developing countries grow more affluent. Underscoring the trend is a flurry of deals of late. In July, TPG and the Carlyle Group won a takeover battle for Healthscope, an Australian hospital chain. And in June, Vanguard Health Systems completed its acquisition of the Detroit Medical Center’s hospitals. In March, Cerberus Capital Management acquired Caritas Christi, a non-profit chain of hospitals based in Boston.