Exor and Founder Divest Italian Healthcare Group Lifenet to Reale Mutua

Overview of the Lifenet Healthcare Acquisition

MILAN, Feb 16 (Reuters) - Exor, the Agnelli family's investment vehicle, and the founder of Lifenet Healthcare have agreed to sell the Italian private clinics and diagnostics group to insurer Reale Mutua, the companies said on Monday.

Details of the Transaction

Lifenet Healthcare, which runs private hospitals, eye and dental clinics across several Italian regions, said in a joint statement with Reale Group it expected revenues of more than 450 million euros ($533 million) this year.

Market Trends in Healthcare Partnerships

Insurers are increasingly partnering with private healthcare groups as both sides strive to keep costs in check and attract more patients.

Role of Financial Advisors

Reale Mutua is acquiring 80% of Lifenet, with founder Nicola Bedin retaining 20% through the family's holding company Invin.

The transaction values Lifenet Healthcare at around 600 million euros, a person close to the matter said, adding the sale had attracted strong interest from both industrial players and investment funds.

"Reale Group is the ideal investor for Lifenet," Bedin said.

The accord is the latest evidence of intense dealmaking in health services, where insurers, private equity firms and healthcare groups are increasingly teaming up, with a focus on outpatient clinics, day-surgery centres and diagnostic services.

JPMorgan acted as lead financial adviser on the deal, working with Exor and Invin. ($1 = 0.8439 euros)

(Reporting by Valentina Za; Editing by Lisa Shumaker)