Distressed debt investors are circling General Healthcare Group, the FT says, in expectation that the UK’s largest private hospital operator by revenue will be forced to restructure its heavily indebted financial set-up. The special situations arm of KKR is one of the funds that has bought some of the hospital company’s debts, the newspaper says, citing people familiar with the matter. KKR declined to comment. GHG operates 70 hospitals and treatment centres across the country and employs 15,000 people. But the company was straddled with £1.9bn of gross debt in the 2006 acquisition by Netcare, the South African healthcare group; Apax Partners, the private equity investor; and two property investors.
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