Central Europe-based investor MidEuropa has sold Regina Maria Group, Romania’s leading private healthcare network, to Mehiläinen, Finland’s largest private healthcare provider. The deal, which also includes MediGroup in Serbia, represents the largest healthcare services transaction in Central Europe to date.
Completion remains subject to customary regulatory approvals and is expected later this year.
MidEuropa’s investment in Regina Maria was driven by a strategic focus on market consolidation and selective international expansion.
Under its ownership, the group scaled significantly, with revenues and EBITDA increasing approximately tenfold. The firm committed over €300m to expand the platform from around 50 to more than 400 facilities, facilitating the construction of new hospitals and advancements in diagnostic capabilities, robotic surgery, and radiotherapy.
Investments in digital innovation also enabled over 1 million telemedicine consultations over the past three years.
Today, Regina Maria delivers more than 6.5 million patient consultations annually, serving over 3 million unique patients, including 880,000 with employer-funded subscriptions.
The transaction follows MidEuropa’s recent successful IPO of Diagnostyka on the Warsaw Stock Exchange, which raised over €400m and valued the business at more than €1bn at listing.
The firm has a proven track record in healthcare investments, having previously exited assets such as Poland’s Lux Med (sold to Bupa), Slovakia and Czech Republic’s Alpha Medical (sold to Unilabs), Turkey’s Kent Hospital (sold to Acıbadem), and Walmark, a leading Central European vitamins and supplements producer (sold to Stada).
MidEuropa’s current healthcare portfolio includes Optegra, a pan-European ophthalmology platform, and FAMAR, a global pharmaceutical contract development and manufacturing organisation.
The MidEuropa deal team comprised Eugeniu Prodan, Bogdan Bunea, Valentina Giambasu, and Ivo Cavrak (legal). Advisers included Rothschild & Co (financial), A&O Shearman, RTPR, and Karanovic & Partners (legal), PricewaterhouseCoopers (financial and tax), and LEK (commercial).
