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Private equity firms eyeing up UK healthcare units

ABN Amro, 3i, Electra Partners, Hg Capital and Bain Capital are among a number of bidders currently seeking to acquire two units put up for sale by UK healthcare group SSL International.

SSL is disposing of its medical division, which manufactures antiseptics and surgical gloves. The business is valued at between £200m and £300m, according to a report by Reuters. SSL is also planning to sell its wound care business, which is valued at up to £80m.

Following the sale, SSL plans to focus on its consumer business, which accounts for approximately 55 per cent of the group's operations.

SSL International was formed through the merger of London International Group and Seton Scholl in 1999. Since the merger the firm has been plagued by accountancy scandals and allegations of trade loading.

But SSL's share price has doubled during the past three months and the company announced better than expected annual results in June. The proposed disposal programme is expected to pave the way for an outright sale to European households products group Reckitt Benckiser, according to the Financial Times.

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