ZF English

Fund that bought into MedLife is negotiating three other deals

06.06.2010, 22:12 11

Investment fund Societe Generale Asset Management (SGAM) EasternEurope, held by financial giant Societe Generale, which last yeartook over 36% in medical services operator MedLife for around 20million euros, is currently negotiating three other deals, both inthe medical sector, and in other crisis-resistant sectors.
"We see opportunities in Romania, this is a leading market for us.This year will definitely see economic decline. I estimate it willbe close to 1%. Over the next decade, however, I don't know whethernecessarily in 2011, Romania will see economic growth above othercountries in the region. It will perform better," Leo Gherghina,SGAM partner, told ZF in an interview. He only mentioned themedical sector as an area of interest, without specifying the othersectors he was targeting.
The takeover of MedLife last year was followed a few months laterby the acquisition of Centrul Medical Unirea (Unirea MedicalCentre) by another investment fund, Advent International, whichmade the private medical sector very attractive for investors. Themarket, put at 373 million euros in 2009, will continue to grow andto attract investments, being one of the few sectors currently onthe rise.

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