Societe Generale Asset Management’s Eastern Europe Fund, a EUR156m private equity fund, has completed the acquisition of a 36.25 per cent stake in MedLife, a Romanian provider of healthcare services.
The transaction value is estimated at over EUR20m.
MedLife is currently the largest operator of private medical services in the Romanian market.
Currently, MedLife is operating four hyper clinics in Bucharest and other Romanian cities, five laboratories, 28 medical centres and a collaborative partnership, MedNet, with approximately 100 medical clinics throughout the country.
In addition, MedLife has the largest private hospital in Romania, the Life Memorial Hospital.
The fund purchased its interest from the Marcu family, who founded and developed the business, and IFC, a member of the World Bank Group. Both remain shareholders of MedLife post transaction.
SGAM Eastern Europe Fund targets significant stakes in mid-sized companies in the new EU member and candidate country states of Central and Eastern Europe through expansion and buy-out capital investments. The Eastern Europe team, operating from offices in Warsaw, Bucharest, as well as from SGAM’s headquarters in Paris, is led by eight partners with extensive experience in private equity in the region.
