Innova Capital sells Neomedic in €70.5m deal

The deal brings to an end a seven-year holding period for the vendor.

Following the deal, Neomedic plans to strengthen its offering in Kraków and the Małopolska region and pursue additional expansion and investment opportunities in other locations as well.

Medicover, a healthcare and diagnostic specialist founded in 1995, already has a presence in Poland, where it operates one of the largest private hospitals in the country, the Medicover Hospital in Wilanów. Medicover recorded EBITDA of €59.8m from revenues of €671.6m in 2018.

Previous funding
Innova Capital acquired a 67.3% stake in the company in 2012 via its Innova/5 fund, which held a final closing on $388m in November 2009.

Company
Established in 2001 and headquartered in Kraków, Neomedic is a hospital group specialising in neonatology, obstetrics and gynaecology. It operates two large clinics based in Kraków and Nowy Sącz and one smaller private hospital located in Krakow, as well as several primary care medical centres and ambulatory centres. The company generated revenues of €28m in 2018.

People
Innova Capital - Leszek Muzyczyszyn (senior partner).
Medicover - Fredrik Rågmark (CEO). 
Neomedic - Tomasz Wiśniewski (CEO).

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• Topics
• Exits
• CEE
• Healthcare
• Innova Capital
• Poland
• Trade sale