Value4Capital makes 2x gross return on MedLife IPO

The exit saw Value4Capital sell down its entire 36.25% shareholding in MedLife as part of the company's IPO on the Bucharest Stock Exchange, which valued the stake at RON 189m (€42m). The International Finance Corporation sold a 7.75% shareholding as part of the listing.

With an introductory share price of RON 26, MedLife's market cap is around RON 522.4m.

MedLife's IPO is the largest for a private company ever to happen on the Romanian exchange, according to a statement by the Bucharest Stock Exchange. A total of 8.8 million shares were placed in free float as part of the offering.

Raiffeisen Bank was the lead global coordinator and lead joint bookrunner of the flotation, while Wood & Company Financial Services acted as co-global coordinator and joint bookrunner.

Previous funding
In November 2009, Value4Capital acquired a 36.25% shareholding in MedLife for a €20m investment through its V4C Eastern Europe Fund. The deal saw the GP acquire its stake from MedLife's founding Marcu family and the International Finance Corporation.

Company
Founded in 1996, MedLife is a provider of private healthcare services in Romania.

The company operates private clinics, medical laboratories, and general and specialist hospitals, employing a staff of 3,000.

People
Value4Capital - Bill Watson (managing partner).

Advisers
Vendor - East West Partners (corporate finance); Nestor Nestor Diculescu Kingston Petersen (legal).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Exits
• Healthcare
• CEE
• Romania
• IPO