Medicover Strengthens Diagnostic Operations in Ukraine

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Oct 18, 2018, 09:02 ET

STOCKHOLM, October 18, 2018 /PRNewswire/ --

Medicover has signed an agreement to acquire the Ukrainian laboratory operations of Invitro. The operations consist of a total of 61 blood drawing points (BDP's) and one laboratory, focused on eastern and central Ukraine. The business is expected to be consolidated in the beginning of 2019. The transaction is subject to customary regulatory approvals.

End of September 2018, Medicover had a total of 229 BDP's in Ukraine and will through the acquisition increase distribution reach in Ukraine. Synergies will be achieved through combining the laboratory facilities and other support functions. The purchase price amount to EUR 6 million, implying a low single digit EBITDA multiple after full impact of synergies.

"The acquisition of Invitro's Ukrainian operations extends our geographical coverage for customers and also shows our long-term commitment to providing the Ukrainian population with health services. We will improve access to our wide offering of quality diagnostic tests following the acquisition", says Fredrik Rågmark, CEO Medicover.

Medicover is a leading international healthcare and diagnostic services company and was founded in 1995. Medicover operates a large number of ambulatory clinics, hospitals, specialty-care facilities and laboratories and the largest markets are Poland and Germany. In 2017, Medicover had revenues around €580 million and 15,900 employees. For more information, go to http://www.medicover.com

PDF: http://mb.cision.com/Main/15662/2647547/928311.pdf

SOURCE Medicover