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Mergers and Acquisitions News

EMC Instytut Medyczny will merge with Penta Hospitals?

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EMC Instytut Medyczny wants to merge with Penta Hospitals Poland, the company announced in a communiqué. The company expects that the merger will bring benefits in the form of capital strengthening, improvement of the competitive position on the market and synergy effects.

Possible merge within Penta

EMC Medical Institute and Penta Hospitals Poland belong to the same capital group – the owner of both entities is CareUp BV, i.e. an entity belonging to the private equity fund Penta Investments. CareUp holds 100% of shares in Penta Hospitals Poland. In EMC, on the other hand, it is the majority shareholder with a 70.6% stake.

In September 2018. EMC announced that it would review policy options that could strengthen its financial situation. The aim is to further develop, reduce debt and raise additional funding. Among the options considered were the issuance of shares, obtaining debt financing and changing the structure of the group (including the merger). The company has now announced that, despite the plans to merge with Penta Hospitals, the review of other strategic options is continuing. It is possible to implement several solutions. Should the merger negotiations be successfully completed, the transaction will still have to be approved by the General Meeting of Shareholders.

EMC Medical Institute operates a network of 10 hospitals and over a dozen outpatient clinics. According to the PMR report, the company’s hospitals have more than 1,600 beds in total. Penta Hospitals owns the Prywatna Lecznica Certus, which was taken over by Penta in 2017. Certus operates a hospital in Poznan and a chain of outpatient clinics in the Wielkopolskie voivodeship.

Changes in the Management Board of EMC Instytut Medyczny

EMC also reported that Tomasz Terlecki resigned from the position of a member of the Company’s Management Board. Terlecki has been associated with EMC since 2018 and was its Chief Financial Officer. The resignation shall take effect immediately, on 14 August. The reasons for the resignation were not stated. Let us remind you that since June Karol Piasecki has become the new President of EMC. We have written about it here.

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