Medicover invests PLN 35 m within two years

APA - Austria Presse Agentur
08-06-2005, 13:04

Warsaw (Puls Biznesu) – Medicover, the Swedish medical services company, has acquired Euro Lab laboratory in Wroclaw, western Poland. This is its third diagnostic company in the group. The company will spend at least PLN 35 m (EUR 8.6 m) to develop in Poland in the upcoming two years. ‘Medicover Holding, our Swedish owner, will spend PLN 25 m for us.

Warsaw (Puls Biznesu) – Medicover, the Swedish medical services company, has acquired Euro Lab laboratory in Wroclaw, western Poland. This is its third diagnostic company in the group. The company will spend at least PLN 35 m (EUR 8.6 m) to develop in Poland in the upcoming two years. ‘Medicover Holding, our Swedish owner, will spend PLN 25 m for us. The rest will be raised by us. We want to acquire private laboratories and hospital laboratories’, Agnieszka Szpara, Medicover CEO said.

In its three companies, Medicover has today five laboratories with sales of PLN 16.5 m last year, or 10 percent of the company’s sales in Poland. They will be consolidated in one entity – Synevo. ‘The market in Poland is worth about EUR 400 m. Today, only several percent of these sales are generated by private entities. We hope to achieve double-digit growth of the services’, Wojciech Budacz, Synevo Poland managing director said.

Medicover has also decided to build a hospital in Poland. ‘We are talking to local authorities to acquire a hospital. This year, we will choose the location. Depending on the model, it will be an investment of PLN 30-50 m. We are able to finance the project by ourselves but the hospital will be managed by a specialised partner’, Medicover CEO said. In Poland, Medicover has 13 own medical centres, 12 outlets in companies and 300 co-operating fimrs. Poland is Medicover’s biggest market in this region. In 2004, the Polish unit of the company generated 60 percent of EUR 43 m of sales in four countries of Eastern and Central Europe.

(PLN 1 = EUR 0.246)Poland/Enterprises/Healthcare

 

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Podpis: APA - Austria Presse Agentur

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