AXA Private Equity, the leading European diversified private equity firm, announced last Friday that it has signed an agreement to acquire through its infrastructure funds, Unicredit's 40% stake in HISI (Holding di Investimenti in Sanità  e Infrastrutture). AXA Private Equity already owns 40% of the share capital of HISI and, following this acquisition, the firm will own 80% of the company's capital.

HISI is a holding company which owns 65% of Genesi Uno, an Italian project company awarded a 28 year concession to design, build and operate a 550 bed hospital in Legnano, Lombardy. The construction of the hospital commenced in March 2006 and completed in February 2010. Genesi Uno provides non-medical services to the hospital, including cleaning, special waste management, maintenance, security, green space management, laundry and catering. Since the provision of services started, the company has demonstrated its ability to operate at the highest level, providing first-rate services to both patients and hospital staff.

AXA Private Equity will use its controlling position to increase its support for HISI's development strategy, working alongside Techint Group, the multinational group operating worldwide, which will hold the remaining 20% stake.

Stefano Mion, Managing Director, Infrastructure, at AXA Private Equity said:

"We have been a shareholder of HISI since 2007, and during this time the company has consistently delivered a strong operating performance. Our increased shareholding will allow us to provide the company with the necessary resources to continue to grow organically, and also to implement a buy-and-build strategy."