ROMANIA - GED backs EUR 12m Diamedix buyout

The deal, structured as a share purchase and capital increase, sees GED acquire a majority stake in the business.

Bucharest-based Diamedix distributes laboratory equipment, largely to the private sector, within three business segments: human diagnostics; food & feed; and dental. The company forecasts sales for 2009 of EUR 8m, corresponding to an Ebitda of EUR 2m. The estimates are based on the previous three years' growth, with has been 20-40% on the back of wider sector growth for private medical services in Romania.

There are now plans to grow the company organically as well as through acquisitions as the business consolidates the sector; part of the latest investment is earmarked for this.

Diamedix is run by biochemist Cherelias Vasileios, who retains a significant minority stake in the company.

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