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Swedish Medicover raises EUR 120 mln in Germany for expansion in Poland and Romania
Swedish healthcare provider Medicover, active in Romania for more than two decades with the division of clinics, hospitals and medical laboratories, has raised EUR 120 million to finance its expansion in Romania and Poland.
The company announced that it raised EUR 120 mln from the German market, where successfully carried out its first Schuldschein issue (a German private placement debt instrument), with maturities of 5 and 7 years, at fixed and floating rates.
The issue was oversubscribed and allowed the company to raise more than the initially planned EUR 100 mln.
The Swedish will use the money to develop its network of clinics and hospitals in Romania and Poland.
"This agreement significantly strengthens the position of the Medicover group and allows us to develop our acquisition programs on the Polish and Romanian markets. Lately, we have expanded a lot on the Polish dental market, where we have expanded the network with 15 new clinics. We intend to continue expanding our network in Romania, where we have already added 11 new clinics, and to launch a similar program in Poland,” said John Stubbington, COO Healthcare Services at Medicover.
Medicover is a leading international healthcare and diagnostic services provider. Its largest operations are in Germany, Poland, Romania, and Ukraine.