STOCKHOLM, Dec. 19, 2019 /PRNewswire/ -- Medicover AB (publ)
has increased its ownership in Medicover Hospitals (MaxCure) in
India from 49.2% to 53.1% via a
mixture of primary shares and secondary shares acquired. Medicover
holds also additional convertible loans that if converted would
take ownership to approximately 57%. This investment brings the
total carrying value of the ownership in Medicover Hospitals to
EUR 57 million for its stake.
Medicover is now the majority owner in Medicover Hospitals and the
business will be consolidated as from 1
December 2019.
Medicover Hospitals consist of 11 specialised hospitals and two
oncology centres under construction to be commissioned in 2020 in
three states, Andhra Pradesh, Maharashtra and Telangana. Medicover
Hospitals had revenue of EUR 49.9
million for the first nine months 2019.
"I'm excited about the consolidation with Medicover and
look forward to expand the business further. We strive to become a
significant healthcare provider in India," says Dr. Anil Krishna, Managing
Director Medicover Hospitals.
"This is a significant milestone in our development in
India where we now have 11
hospitals and 16 fertility centres. We are excited to welcome such
a great team into the group and look forward to driving further
growth in coming years", says John
Stubbington, COO Healthcare Services Medicover.
For further information, please contact:
Hanna Bjellquist
Head of Investor Relations
+46-703033272
hanna.bjellquist@medicover.com
This information is information that Medicover AB is obliged to
make public pursuant to the EU Market Abuse Regulation and the
Securities Markets Act. The information was submitted for
publication, through the agency of the contact person set out
above, at 08.00 CET on 19 December
2019.
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 and laboratories and the largest markets are
Poland and Germany. In 2018, Medicover had revenue around
€672 million and 20,970 employees. For more information, go to
www.medicover.com
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Increased ownership
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