Central & Eastern Europe-focused private equity firm Mid Europa Partners has backed laboratory testing company Alpha Medical’s acquisition of privately-backed Euromedic’s laboratories in the Czech Republic
Euromedic is jointly owned by ARES Life Sciences & Montagu Private Equity.
Matthew Strassberg, senior partner of Mid Europa who leads the firm’s healthcare investments, said, “The acquisition of Euromedic Labs is an important step in our strategy to consolidate the Central European laboratory market. Since our initial investment in Diagnostyka in Poland, Mid Europa’s laboratory portfolio has expanded from one company performing 20 million tests annually to a three-country platform offering unparalleled levels of patient service and a combined test volume of over 90 million per annum”.
In 2011, Euromedic sold its dialysis care division International Dialysis Centres for €485m.
Most recently Mid Europa exited Serbian pay TV and broadband provider SBB/Telemach to fellow private equity firm KKR. The firm is reported to be only months from a first closing for its €1bn-targeting fourth fund.
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