Permira and TPG buy Cloudnine stakes in $450 million deal
In short
Permira and TPG Capital bought stakes in Cloudnine Hospitals in a $450 million secondary deal.
The deal values Cloudnine at about $1.3 billion. The report does not say how the ownership will change or whether the company gets new money.
What the reporting says
Permira and TPG Capital acquired stakes in Cloudnine Hospitals from True North and TPG NewQuest in a $450 million secondary deal. The transaction values the maternity and childcare chain at about $1.3 billion. The reporting does not state whether Cloudnine will receive new primary capital or how the ownership split changes after the sale.
Why it matters
Permira and TPG Capital bought stakes in Cloudnine Hospitals from True North and TPG NewQuest in a $450 million secondary transaction. The deal values the maternity and childcare chain at about $1.3 billion, which signals strong private equity interest in healthcare assets. The source does not say how much each buyer or seller held before the deal, or whether any primary capital was raised.