3i heads to Romania for CMU deal
Publish date: 05-02-2007Centrul Medical Unirea, a provider of integrated medical services in Romania, has sold a majority stake to 3i and 3TS, in what the venture firms are describing as the largest transaction to involve a Romanian healthcare provider.
CMU is based in Bucharest, Romania, operating eight clinics for primary care in Bucharest, a surgery clinic, women’s’ clinic and maternity services.
Dr Wargha Enayati, Managing Director and Founder of CMU, said 'We are very happy to have attracted the largest investment in Romanian private healthcare so far, from one of the world leaders in venture capital and private equity. 3i Plc and its Central European advisor, 3TS Capital Partners have substantial expertise in helping private healthcare companies like ours to reach their full potential. Such investment will support our 35,000 subscribers, and we are confident to meet further needs of our customers, while remaining faithful to our values of personal relationships with our patients. Improved funding is key for maintaining our competitive edge, but more important is the focus on the heartfelt service which brought us to where we are today.'
'3TS targets investments in fast growing companies in Central and Eastern Europe. We view CMU’s quality of services and solid reputation with its customers as their most important assets. 3i has considerable international experience at partnering with healthcare companies and now is able to bring that expertise to Romania. The current investment is a major step in our commitment to participate in the growth opportunities of Central Europe and of Romania in particular,' added Daniel Lynch, the 3TS managing director responsible for the CMU investment. 'We are impressed with the depth and quality of the management team at CMU and believe that 3TS has the people, skills and market experience to assist in CMU’s development in the near future.'
3TS Capital Partners is a private equity house focusing on Central and Eastern Europe. 3TS act as the adviser to the €66m TCEE Funds and to the €100m 3TS Central European Fund II, primarily targeting growth capital investments in the new European Union member accession countries. Investors in the Funds include 3i, Sitra, EBRD and KfW among others. The firm has offices in Warsaw, Budapest, Prague, Bucharest and Vienna.
Latest News:
- Insurance market stagnated in 2013 while GDP chare dropped to 1.3%
- The Romanian Leasing Market as of December 31, 2013
- Millennium Bank reports best results since its launch, helped by stronger banking income and cost cuts
- BCR cheapens First Home loans and lowers interest loans for loans in lei
- Millennium Bank's new Salary account clients receive up to 600 lei bonus and their utility bills' payment
- GarantiBank and Seamless introduce SEQR in Romania: the newest mobile payment solution
- Bancpost telecom services, now provided exclusively by Romtelecom and COSMOTE Romania
- Millennium Bank cards offer discounts in Domo stores
- BCR Supervisory Board reshuffles Management Board
- NBR decide to lower the monetary policy rate to 4.25 percent per annum
- Common appointments in Romtelecom and COSMOTE Romania
- Up to 5.5% annual interest rate for Millennium Bank's promotional three-month lei deposit
- Eurozone in recovery mode but gap between North and South still widening
- UniCredit Tiriac Bank and RBS Romania announce the successful completion of the retail clients' migration
- Millennium Bank grants First House loans in lei