STOCKHOLM, June 2, 2022
/PRNewswire/ -- Medicover has signed an agreement to acquire 100
per cent of the business of MeinDentist and enter the German dental
market. The acquisition is subject to customary merger control and
regulatory approvals and is expected to be consolidated from
Q4.
MeinDentist is a leading provider in the Berlin area consisting of 16 clinics, 15 in
Berlin and 1 in Potsdam with
147 dental chairs. Eight of the clinics are mature and the others
are in development phase. Revenue for 2021 amounted to EUR 31.4 million, whereof two thirds are public
pay and one third is private insurance and Fee-For-Service.
The acquisition is fully paid cash on hand and debt free. The
transaction price is not published but represents a higher single
digit trailing EBITDA multiple based upon the mature clinics
performance.
The German dental market is Europe's largest and is estimated at
EUR 28.8 billion, growing 3-4 per
cent per annum.
"This is a unique opportunity to acquire a leading provider in
the Berlin area and enter the
German dental market expanding the range of health services we
provide in Germany. MeinDentist
will work as a good foundation for continued expansion of dental
services in Germany. Our
experience of growing dental services in Poland combined with our strong history in
German health care provision gives us good prospects to develop
further", says Fredrik Rågmark, CEO Medicover.
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 2021, Medicover had revenue of
EUR 1,377 million and more than
38,000 employees. For more information, go to
www.medicover.com
This information was brought to you by Cision
http://news.cision.com
https://news.cision.com/medicover/r/medicover-acquire-meindentist-in-germany,c3578543
The following files are available for download:
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https://mb.cision.com/Main/15662/3578543/1587868.pdf
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Medicover acquire
MeinDentist in Germany
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