Merger on private health care market: CMU joins hands with Euroclinic

Private health care operator Centrul Medical Unirea (CMU), majority owned by investment fund Advent International will merge with Euroclinic Hospital and Medical Centers, the two companies have announced. Advent International has taken over the majority share package in Euroclinic from Dutch group Eureko. The two private health care operators will together run a network of 23 polyclinics and three hospitals across Romania. The new entity will run two maternity hospitals, Regina Maria and Euroclinic, both in Bucharest. “There is a strong compatibility between CMU and Euroclinic. Euroclinic was the first private hospital in Romania and it has been in many cases in the avant-garde when dealing with complex cases,” said Wargha Enayati, general manager of CMU and founder of the business. Eureko clients who have bought health insurance packages from the company will continue to benefit from medical services from the enhanced private health care operator. CMU shareholders, Wargha Enayati and private equity company 3i, sold an 80 percent stake in the company to investment fund Advent in March this year. Founder Wargha Enayati kept a 20 percent share package and the general manager position. CMU posted a turnover of EUR 10 million in the first half of the year. The company has recently opened a new clinic in Sun Plaza shopping center and plans new openings for 2011. The Euroclinic hospital was set up in 2005. The company opened three medical centers and a medical laboratory in Bucharest between 2008 and 2010. The operator posted revenues of EUR 7.7 million in 2009 and was expecting EUR 10 million in turnover for this year, according to previous announcements. Corina Saceanu (corina@romania-insider.com)