PRESS RELEASE
Paris, 22nd July 2026
New steps in connection with Ramsay Santé contemplated free-float expansion: Ramsay Santé successfully completes its senior debt refinancing and convenes a Capital Markets Day on 17 September 2026
- Enhanced financial flexibility supporting long term strategic ambitions
- Application for listing of CHESS Depositary Interests ("CDIs") tradeable on the Australian Securities Exchange ("ASX")
- Appointment of ECM financial advisors in connection with Ramsay Health Care's ("RHC") proposed distribution
Successful completion of the senior debt refinancing
Ramsay Santé today announces the closing of its €1.75 billion refinancing launched on June 24th comprising a €1.55 billion Term Loan B and a €200 million revolving credit facility. The new Term Loan B was successfully priced at E+350bps / 99.0 OID, anchored by both new and existing lenders.
This refinancing will enhance the group's financial flexibility, extending senior debt maturities from 2031 to 2033 and simplify its capital structure by refinancing the €100 million Euro PP notes maturing in 2028 and 2029. It also pre-emptively preserves the continuity and stability of its financing arrangements, with a change of control provision structured to accommodate the contemplated distribution of RHC's 52.79% shareholding in Ramay Santé to RHC shareholders by way of an in-specie distribution1. Such refinancing will provide Ramsay Santé and all its stakeholders with a long-term financing framework and strengthen the group's capacity to pursue its long-term ambitions.
This transaction was arranged by BNP Paribas and Crédit Agricole CIB acting as Global Coordinators and Joint Active Bookrunners, together with Natixis CIB acting as Joint Active Bookrunner.
Ramsay Santé to hold a Capital Markets Day on 17th September 2026
Ramsay Santé will host a Capital Markets Day on 17th September 2026 in Paris, at which senior management will present to investors and research analysts the group's next strategic roadmap, operational priorities and medium-term financial ambitions. This event will give the opportunity to showcase the group's renewed ambition to pursue profitable growth while continuing to deliver excellent patient care, supported by a new and broader shareholding and driven by the talent and commitment of all its employees and medical partners.
The Capital Markets Day may be attended in person and will be broadcast live; registration details will follow and presentation materials will be made available at www.ramsaysante.eu.
Application for listing as CDIs tradeable on the ASX
Ramsay Santé intends to apply for a foreign exempt listing on the ASX, and to put in place arrangements so that RHC shareholders may hold their interest in Ramsay Santé through CDIs, which would be tradeable on the ASX, subject to all applicable approvals. A CDI would provide the equivalent economic exposure and voting entitlement as an ordinary listed share in Ramsay Santé.
Key dates and next steps of the proposed distribution
Indicative timetable is as follows:
- Capital Markets Day: 17th September 2026
- Publication of demerger booklet relating to the transaction: October 2026
- RHC's shareholders meeting to vote on the transaction: November 2026
- Completion of the transaction: December 2026
Pascal Roché, Chief Executive Officer of Ramsay Santé, says:
"The refinancing of our Senior Debt Facility is more than a financial milestone; it is the foundation for our next phase of development. With a stronger financing structure and a clear strategic direction, Ramsay Santé is entering a new chapter with confidence. At our Capital Markets Day on 17 September, we will present our 2030 strategy: a roadmap to accelerate sustainable and profitable growth, deliver operational excellence and create long-term value. We believe Ramsay Santé is uniquely positioned to shape the future of healthcare in Europe through integrated care, medical excellence and outstanding patient outcomes."
Ramsay Santé appoints its ECM Financial Advisors for the proposed distribution
Ramsay Santé has appointed BNP Paribas and UBS as ECM Financial Advisors, together with Natixis as Co-ECM Financial Advisor, in connection with the proposed distribution and its contemplated free-float expansion.
About Ramsay Santé
Ramsay Santé is the European leader in private hospitalisation and primary care. With 40,000 employees and 10,000 practitioners, the group welcomes 13 million patients each year in 492 facilities across five countries (France, Sweden, Norway, Denmark and Italy).
As a mission-driven company, Ramsay Santé covers the entire care pathways in medicine, surgery, obstetrics, medical and rehabilitation care, mental health and primary care centres, with constant innovation to improve everyone's health and ensure equitable access to secure and qualitative care.
Facebook: https://www.facebook.com/RamsaySante
Instagram: https://www.instagram.com/ramsaysante
LinkedIn: https://www.linkedin.com/company/ramsaysante
YouTube: https://www.youtube.com/c/RamsaySante
ISIN and Euronext Paris code: FR0000044471
Website: www.ramsaysante.fr
| Investor / Analyst Relations Clément Lafaix Tel. +33 1 87 86 21 52 clement.lafaix@ramsaysante.fr | Press Relations Brigitte Cachon Tel. +33 1 87 86 22 11 brigitte.cachon@ramsaysante.fr |
Disclaimer
This press release is intended for informational purposes only and does not purport to be full or complete. This press release is not intended to pre-empt the key disclosures that will be made in the demerger scheme booklet to be distributed by RHC (Demerger Booklet). Any decision made by RHC shareholders in connection with the proposed distribution should be made only on the basis of the Demerger Booklet. This press release is not relevant to and should not be relied upon in connection with voting on the proposed demerger. This press release is not intended to and does not constitute or form part of any offer or invitation to purchase, otherwise acquire, subscribe for, sell, otherwise dispose of or issue, or any solicitation of any offer to sell, otherwise dispose of, issue, purchase, otherwise acquire or subscribe for, any security. No offer of shares will be made as part of the proposed distribution or in connection with the CDIs' listing. This press release is not intended for distribution in jurisdictions that require prior regulatory review and authorization to distribute a press release of this nature.
1 Distribution expected to be implemented in December 2026, subject to the satisfaction of customary conditions including RHC Board and shareholders, Australian court and regulatory approvals.
