Australia’s Ramsay Health to spin off Ramsay Sante stake after year‑long review

Feb 20 (Reuters) – Australia’s Ramsay Health Care said on Friday it plans to distribute its 52.79% stake in Ramsay Sante to its shareholders, effectively separating from its long-underperforming French-listed business.

The decision comes a year after the Sydney-based hospital operator hired Goldman Sachs to review strategic options for its stake in Ramsay Sante amid pressure to focus on its core operations.

Sante, a private healthcare operator in Europe with its services spread across France, Italy, Norway, among others, has been underperforming for some time.

Its shares have declined 44% in value since the end of 2023. It reported a loss of 54.1 million euros ($63.68 million) in the year to June 2025, bigger than the prior year’s loss of 53.9 million euros.

“Separating Ramsay Sante from Ramsay would simplify the group’s structure and position Ramsay to pursue a more focused and tailored strategy, supporting long-term value creation for Ramsay shareholders,” the Australian healthcare firm said.

Ramsay will distribute its stake in Ramsay Sante by allocating its shareholders their proportionate share of the French business through depository interests that will trade on the Australian Securities Exchange.

The company said the distribution is expected in the fourth quarter of 2026, subject to approvals.

($1 = 0.8495 euros)

(Reporting by Sameer Manekar in Bengaluru; Editing by Alan Barona and Maju Samuel)