Business & Finance
Medicover completes acquisition of Spitalul Pelican
13 September 2018 -

Medicover AB (STO:MCOVB), a healthcare and diagnostic services company, announced on Wednesday the completion of the acquisition of a majority stake of Spitalul Pelican, as all necessary approvals have been granted.

Financial details of this acquisition were not available. Spitalul Pelican reported revenues for 2017 of EUR15m, with an EBITDA of EUR3.7m.

Reportedly, the cash flow impact of the acquisition is projected at EUR23m, including the purchase price, debt, transfer of certain assets and investments into operations.

With the completion of the acquisition, Spitalul Pelican will be consolidated from mid-September 2018.

Medicover operates a large number of ambulatory clinics, hospitals, specialty-care facilities and laboratories and its largest markets are Poland and Germany.