Eureko sells Euroclinic Hospital and Medical Centers in Romania

Eureko announces that it signed an agreement to sell Euroclinic Hospital and Euroclinic Medical Centers in Romania to Centrul Medical Unirea (CMU). After the transaction, Eureko Asigurari health insurance clients will have access to the medical facilities of the new group. Closing of the deal is expected before year end 2010. Finalisation of the transaction is subject to approval by the regulatory authorities.

Euroclinic operates a hospital and three medical centers through which it provides high-end medical services. Euroclinic has 350 employees and realised just under 8 million euros revenue in 2009.

CMU is a top-class Romanian healthcare services provider which operates 18 clinics, an imaging center and in-patient facilities for surgery and maternity. Its ambitious development plans are backed by Advent International, one of the world’s largest private equity groups.

Thomas van Rijckevorsel, member of Eureko’s Executive Board and responsible for international operations, notes: “After a strategic review of our Romanian non-insurance activities, we decided to sell our healthcare service providers to a buyer willing to advance a mutually-beneficial long-term partnership with our insurance activities in Romania. Eureko, through Eureko Asigurari, remains committed to its health insurance activities in Romania, and will actively continue to further develop its leadership position in this market.”