Mid Europa Partners takesover Regina Maria health network from Advent International

Mid Europa Partners, the biggest private equity firm focused on Central and East Europe and Turkey, announces the takeover of Regina Maria health network. The transaction is subject to antitrust approval and is expected to be completed in the last quarter of 2015 .

2015-08-06 17:06:27

According to Advent International release, the fund, one of the largest and most experienced global private equity investors, together with the Enayati family, the Founders of the business, has agreed to sell Regina Maria, the leading premium integrated private healthcare services operator in Romania, to Mid Europa Partners. The transaction is subject to approval by the regulatory authorities. The purchase price has not been disclosed.
Headquartered in Bucharest, Romania, Regina Maria offers a full range of integrated healthcare services, with a strong focus on hospital and ambulatory care, laboratory, imaging diagnostics and corporate subscriptions. The Company was founded in 1995 by Dr. Wargha Enayati, a cardiologist who pioneered the corporate subscriptions in the Romanian market.
Since acquiring the business in February 2010, Advent has worked alongside the management team to transform the Company and create a unique asset in healthcare services in the region. Significant investment in ambulatory and hospital capacity as well as in new services enabled Regina Maria to expand its offering and footprint in Bucharest and throughout the country. In addition, increasing its sales force and coverage model strengthened its leading position in corporate subscriptions.
Under Advent's ownership revenue has quadrupled and EBITDA has tripled, both organically and through the strategic acquisition of Euroclinic, the first private hospital in Bucharest. Today, with the addition of three new hospitals and a significantly increased service offering, Regina Maria has become one of the fastest growing brands in Romanian healthcare, known as the leader in quality care.
Emanuela Popa-Radu, Managing Director, Advent International, said: "Together with Regina Maria's management team, we have built this company into one of the leading private medical services groups in Romania. With enhanced offerings and increased capacity in Bucharest and across the country, the business has a strong and sustainable platform to continue its expansion and maximise its position in the Romanian healthcare sector."
Fady Chreih, CEO, Regina Maria, said: "We'd like to thank Advent for all their support over the past five years. Investment in Regina Maria has enabled it to grow and develop into a business that offers high quality services for all our patients and perform at the top level in the Romanian healthcare sector. We are now looking forward to the next phase of growth with Mid Europa."
Advent's advisors on the transaction were RTPR Allen & Overy, as legal adviser, PWC as financial adviser, LEK as commercial adviser and Rothschild as M&A adviser. The Enayati family's legal adviser was NNDKP.

About Regina Maria

Regina Maria-The Private Healthcare Network is one of the leading private healthcare providers in Romania, with over 3,000 full-time employees and collaborators, and 22 own locations in Bucharest and nationwide. The company offers medical services of the highest quality through an extensive network of facilities across the country serving over 1.2 million retail patients. In addition, it has a portfolio of approximately 300,000 corporate subscriptions. In figures, Regina Maria represents: 22 own locations, 4 hospitals, 2 maternity clinics, 5 medical campuses, 5 imaging centers, 11 accredited medical laboratories, a Central Stem Cells Bank and over 180 partner clinics throughout the country.
With about 300,000 of corporate subscriptions, REGINA MARIA is the main privat operator of premium health services in Romania, with a national presence of 22 locations in Bucharest and all over the country, 4 hospitals, 11 labs and 5 imagistic centers.