Macquarie Group Limited (ASX:MQG) has emerged in the final stages of the $500m-plus contest for the nation's day hospital provider, Cura Day Hospitals Group Pty Ltd. (Cura Group). The financial powerhouse is understood to be partnering with Medibank, which is one of three shortlisted bidders in the race. The others are international private equity firms Partners Group Global Income Fund (ASX:PGG) and Intermediate Capital Group plc (LSE:ICP).

It is understood Macquarie is attracted to the opportunity due to the infrastructure-like qualities that day hospital operators such as Cura Group possess. Queensland Investment Corporation, another infrastructure investor, had earlier waded into the space with its majority interest in Nexus Day Hospitals, a significant industry player in Australia that bought Healius day surgery division Montserrat Day Hospitals for about $140 million last year. As reported by DataRoom on November 5, investment bank Citi shortlisted three parties for the Cura Group sale process, with Ramsay Health Care, Pacific Equity Partners and Morgan Stanley Infrastructure Partners out of the contest.

Binding offers are due early next month.