The acquisition of Neomedic completed
The earlier announced acquisition of Neomedic, a leading neonatology and obstetrics hospital group in southern Poland, is completed.
Neomedic operates three hospitals with surrounding outpatient and primary care clinics. In addition, Neomedic operates ambulatory centres focused on obstetrics. The first hospital of Neomedic was established in 2001 in Kraków and it has since then shown strong organic growth. In 2018, 7,600 babies were born in its hospitals.
Neomedic was acquired for 70.5 MEUR and reported revenue of 27.1 MEUR for 2018. Its profitability will contribute positively to Medicover and the transaction value implies a high single digit EBITDA multiple, including synergies, which are expected to be realised within 12 months. The acquisition will be funded with current committed debt facilities and is expected to be accretive in 2019.The acquisition will be consolidated from mid-May.
For further information, please contact:
Hanna Bjellquist, Head of Investor Relations
This information is information that Medicover AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, at 18.20 CEST on 10 May 2019.
Medicover is a leading international healthcare and diagnostic services company and was founded in 1995. Medicover operates a large number of ambulatory clinics, hospitals, specialty-care facilities and laboratories and the largest markets are Poland and Germany. In 2018, Medicover had revenue around €672 million and 20,970 employees. For more information, go to www.medicover.com