Mid Europa Partners (“Mid Europa”), the leading private equity investor in Central and South Eastern Europe, announced today that it has entered into an agreement to acquire a majority stake in MediGroup (“MediGroup” or the “Company”). The seller, Blue Sea Capital, will retain a 45% stake in the Company. The transaction is subject to customary competition clearance and is expected to close in Q2 2018.
MediGroup is the leading private healthcare provider in Serbia with 13 facilities across key cities, providing inpatient, outpatient, lab, IVF, ophthalmology and cosmetology services.
Matthew Strassberg, Co-Managing Partner of Mid Europa, who founded and leads Mid Europa’s healthcare sector practice, commented: “MediGroup represents an ideal entry platform into the burgeoning private healthcare market in Serbia. We expect to leverage our decade-long experience of nurturing the growth of healthcare providers such as LuxMed in Poland and Regina Maria in Romania to accelerate the development of MediGroup.
Our partnership with Blue Sea Capital will ensure that MediGroup continues to have access to their local expertise and execution capabilities while benefiting from our significant sector experience and resources as well as the know-how of Regina Maria’s management team.” Csanad Daniel, Principal of Mid Europa, who led the execution of the transaction added: “With its leading brand and high-quality facilities, MediGroup is poised to capitalize on the significant growth opportunities in the Serbian healthcare market. We are enthusiastic to work together with our partner Blue Sea Capital and MediGroup’s management during the next phase of the Company’s development, supporting it through capital investments for organic and acquisitive growth.” Sasa Galic, Managing Partner of Blue Sea Capital stated: “I am proud of what the Blue Sea Capital team together with the management has achieved since MediGroup’s launch in 2013.
Partnering with Mid Europa, the most prominent investor in Serbia with a unique track record in healthcare investments in Central and Eastern Europe, represents a logical next step along MediGroup’s development path.”
Vuk Vukovic, Partner of Blue Sea Capital commented: “Through its distinctive approach to the provision of healthcare services and its willingness to invest strongly, MediGroup has become a country leader. The partnership with Mid Europa creates a great opportunity to take MediGroup’s development to another level.”
The transaction was executed by Csanad Daniel, Murat Buyumez and Can Karapence from Mid Europa, and by Vuk Vukovic, Mirko Milojevic and Marko Jojic from Blue Sea Capital. Sidley Austin and ZSP acted as legal counsels and PwC and EY as transaction services advisors to Mid Europa. Blue Sea Capital was advised by Allen & Overy, BDK, KPMG and Van Campen Liem.
About Mid Europa Partners
Mid Europa Partners is a leading independent private equity firm focused on the growth markets of Central and South Eastern Europe. Operating from London, Budapest, Warsaw and Istanbul, Mid Europa Partners has raised and managed funds of approximately €4.6 billion. Mid Europa has a pan-regional approach, acquires market leading companies, principally in domestic-focused growth industries, and since inception in 1999, has completed 36 investments across 18 countries in the region. For additional information on Mid Europa Partners please visit: www.mideuropa.com
About Blue Sea Capital
Blue Sea Capital is an independent private equity company with offices in Belgrade and Zagreb, focused on small and medium enterprises in the region. Blue Sea Capital combines regional presence and the investment expertise of its team obtained in both international and local setting, and has so far invested in leading companies in its target sectors. For additional information please visit: www.blueseacap.com.