Mid Europa Partners has acquired Dr n med Teresa Fryda Laboratorium Medyczne through a jointly controlled entity, Polska Grupa Laboratoriów Medycznych. This transaction marks a further step towards the consolidation of the Polish laboratory market, which was initiated in January 2011 through the acquisition of a strategic stake in Diagnostyka (Diagnostyka), the Polish market leader.
Fryda is one of the leading players in the Polish laboratory diagnostics market, offering services to hospitals, private clinics and individuals. In 2010, the Company performed circa 10 million tests in more than 30 laboratories across Poland.
Paweł Padusiński, Director at Mid Europa Partners, says: “We are pleased to announce another investment in the Polish private healthcare services. The acquisition of Fryda is a major step towards our goal of consolidating the Polish laboratory sector. We believe that the strong market positions of Diagnostyka and Fryda, together with our experience and the financial resources of Mid Europa, will allow the Group to fully take advantage of the Polish market’s high growth potential.”
Teresa Fryda, founder and CEO of the Company, says: “We are looking forward to partnering with Mid Europa, as they share our strategic plans for the Company and our vision of the Polish laboratory market. We believe that working alongside such an experienced investor will allow us to significantly increase the Company’s value.”
Jakub Swadźba, co-founder of Diagnostyka, says: “We strongly believe that our cooperation with Fryda will contribute to the further development of modern laboratory services in Poland. It will enable both companies to complement their offering, to share their long-standing professional experience and to collaborate on the implementation of innovative projects.”
The transaction was executed by Paweł Padusiński and Jan Krzewiński from Mid Europa. Mid Europa was advised in this transaction by PwC and Weil Gotshal & Manges.
