Barclays Infrastructure Funds (BIF) have acquired a 51 % stake in Vimercate Salute S.p.A., the company that developed and currently manages the new Vimercate hospital, in the region of Lombardy, Italy.

BIF has acquired the stake from Pessina Costruzioni S.p.A. and INSO S.p.A., part of the Condotte Group. Both INSO and Pessina will remain minority shareholders and operators of the hospital.

Other minority shareholders in Vimercate Salute S.p.A. are the following firms: Cooperativa Cellini, Gozzo Impianti, Sti, Olicar and Serist.

The concessionary Vimercate Salute Spa completed the construction works in 2009 (3-year construction period) and will manage the project until 2030 as the concession period is 24 years.

Designed by Mario Botta, the hospital is one of the most modern and advanced in the healthcare system of the region of Lombardy, with an overall capacity of 538 beds, 10 operating rooms, a helicopter runway and a 1,200 capacity car park.

Ashurst has advised Barclays Infrastructure Funds on the deal. Ashurst's partner, Carloandrea Meacci said:

"We are very pleased to have assisted Barclays on this deal, which is one of the very first investments of a foreign infrastructure fund in the Italian healthcare sector. We are confident that it will pave the way to further deals in this industry."

Source: Ashurst & Pessina Costruzioni S.p.A.& Inso