On an effervescent private medical services market, businessmanOctavian Netcu, who built a group of firms around medical equipmentdistributor Radiusmed sold a 70% stake to British group Gada, withover 70 million euros in turnover.
In the wake of this deal, Netcu becomes a Gada shareholder witha 5.37% stake, which makes him the fifth-biggest shareholder afterItalian businesspeople, but will also collect cash, with the amountbeing dependent on the group's financial results over the nextthree years.
The companies developed by the Romanian businessman, Radiusmed,Integrine, and Medical Management Services, have been put at 9million euros, i.e. six times the 2008 EBITDA, according to Netcu.The businessman explained for ZF that the cash accounts for 30% ofthe deal, with the share exchange accounting for 40%, and he willbe keeping 30%.
The takeover of the three companies developed by Netcu is thefirst of its kind on the medical equipment distribution market.
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