Austrian private equity fund buys into Romanian cancer treatment network

Private equity fund Accession Mezzanine Capital III, managed by Austrian group Mezzanine Management, recently bought a stake in Romanian company Amethyst Radiotherapy, which operates several clinics for cancer treatment in Romania and abroad. The investment was EUR 4 million and was part of a share capital increase that Amethyst Radiotherapy made, in April 2015, to support business development in several countries in Europe, Romania included, the company announced. The private equity fund also granted the company a EUR 21 million loan in 2014, so its total investment in the company now amounts to EUR 25 million. Amethyst didn’t disclose the exact stake the fund acquired. “We are happy that our strategic partner Accession Mezzanine Capital III trusts this initiative and its future development perspectives. We started in 2012 with the first center we opened in Romania, and we are proud that we can replicate the concept in other markets,” said Eliaz Omer, general manager of Amethyst group. Amethyst Radiotherapy currently operates two radiotherapy centers for cancer treatment in Romania, in Bucharest and Cluj-Napoca, and plans to open another one in Timisoara. The company also has centers in Poland and France and plans to expand its network by opening new units in Germany, France and Bulgaria. In the next five years, the company plans to reach a total of 20 radiotherapy centers with total investments amounting to EUR 100 million. One of Amethyst’s founders is Ludovic Robert, founding shareholder of A&D Pharma group, one of the biggest pharmaceutical distribution and retail companies in Romania, and of the Anima private healthcare clinics. His partner is Avner Goldenberg, who owns several dialysis clinics in Romania and other countries in the region. Romanian law firm Tuca Zbarcea & Asociatii advised Amethyst on getting the financing from Accession Mezzanine Capital III. Amethyst Radiotherapy invests EUR 10 mln in medical center in Romania Andrei Chirileasa, andrei@romania-insider.com