As has been confirmed by both the parties involved in the deal, Ramsay Health Care Ltd., the largest private hospital operator across Australia, is all set to purchase a majority stake in French Groupe Proclif. The deal will cost the former 87 Million Euros (A$142 Million).

Proclif is the operator of hospitals in the greater Paris area. The group boasts control of about 1,000 beds and day places, in addition to a turnover of nearly 133 Million Euros.

With the current purchase, Ramsay's stake in the group will now be 57%, and Credit Agricole's personal insurance subsidiary holds the remaining 43% of the stake.

"The French acute care market has a number of attractive characteristics for Ramsay. The French system is a popular and stable system with important social security funding for both public and private operators providing patients with free choice", said Ramsay Managing Director Chris Rex.

The purchase will pull in funds from Ramsay's existing senior lenders, subject to approval.

The deal is expected to reach a closure by March, and is still subject to regulatory approvals.