STOCKHOLM, Jan. 18, 2022 /PRNewswire/ -- The earlier
announced acquisition of NIPD Genetics, a leading innovative
biotechnology company based in Cyprus, active in the field of designing,
developing, producing, and providing in vitro genetic testing
solutions, is completed. Medicover has increased its ownership from
18.9 per cent and now owns 87.2 per cent of the voting rights. The
business will be consolidated as of mid of January 2022.
Purchase price for the 68.3 per cent of acquired shares amounts
to EUR 44.4 million with no debt
assumed, implying an enterprise value of EUR
65.0 million. The acquisition was funded with current
committed debt facilities and the transaction value implies a high
single-digit EBITDA multiple, excluding synergies. Revenue for 2020
amounted to EUR 16.2 million.
For further information, please contact:
Hanna Bjellquist, Head of
Investor Relations
+46 703 033 272
hanna.bjellquist@medicover.com
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,laboratories and blood-drawing
points and the largest markets are Poland and Germany. In 2020, Medicover had revenue of
EUR 998 million and more than 32,000
employees. For more information, go to www.medicover.com
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https://mb.cision.com/Main/15662/3484295/1521941.pdf
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Acquisition of NIPD
Genetics is completed
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