Medica, the big BC Partner-backed French care home group, looks likely to float near the top of expectations at EUR19.5 per share, raising more like EUR350m than the predicted EUR250m from the flotation of 41% of the business, say analysts. The flotation is set for February 10.

The company forecasts sales of EUR480 sales in the calendar year 2009 and had an EBITDAR (EBITDA excluding rental expenses) of EUR94.6m in the nine months to September 2009 on sales of EUR356.7m. If the shares float at EUR19.5 then the group would be worth EUR854m.

Medica's prospectus gives a very detailed overview of the French and Italian care home market sectors (click here to get to the Medica site).
We will have further commentary next week.