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Sale of Grupa Neomedic by Innova Capital

Advisor to Innova Capital and Mizo on the sale of Neomedic to Medicover

Date: May 2019
Country: Poland
Industry: Healthcare
Target: Grupa Neomedic
Buyer: Medicover
Sellers (Client): Innova Capital & MIZO
VCP’s role/competence: sell-side M&A advisor

  • VCP acted as exclusive sell-side M&A advisor to Innova Capital and MIZO on the €70m divestment of Grupa Neomedic
  • Grupa Neomedic operates three hospitals – two in Krakow and one in Nowy Sącz – with surrounding outpatient and primary care clinics
  • The facilities provide highly specialized hospital care in the area of neonatology, obstetrics and gynecology. In 2018, Grupa Neomedic reported revenue of ca. PLN 120m (ca. EUR 28m) and ca. 7 600 babies were born in its hospitals
  • The sale process was organized as limited auction and only pre-selected strategic investors being able to benefit from potential synergies were approached
  • In a relatively short timeframe, Medicover was selected as exclusive investor, with whom negotiations were conducted in the form of bilateral talks
  • VCP supported the sellers in the entire transaction process through provision of deal tactics, coordination of all work streams in the transaction process and other ad-hoc corporate finance assignments
  • The transaction was signed in February 2019 and following the fulfillment of the agreed conditions precedents, it was completed in May 2019