Prague - Private equity fund Hartenberg Holding, founded by current Finance Minister Andrej Babis together with entrepreneur Jozef Janov, has acquired private medical centre ISCARE I.V.F. through company FutureLife, Janov told CTK today, confirming information released by server motejlek.com.
Miliardář Andrej Babiš, předseda hnutí ANO a vlastník společností Agrofert a MAFRA. ČTK Doležal Michal
ISCARE I.V.F. focuses on reproductive medicine, the treatment of obesity and the digestive system, and plastic surgery.
The companies confirmed the information in a press release today.
The transaction is yet to be approved by the antitrust office UOHS.
According to the Prodata database, the majority owner of ISCARE I.V.F. was entrepreneur Tomas Tamir Winterstein at the end of 2011. Winterstein is also the chairman of the company's board of directors.
ISCARE I.V.F. says on its website it has operated as a private medical centre since 1994. The firm generates an annual revenue of about Kc300m. It became part of Iscare Group in 2009.
FutureLife aims to create a holding of health care facilities in the Czech Republic and Slovakia in the future.
The health care holding will control companies with annual revenues reaching about Kc650m after the transaction is completed, server motejlek.com said.
"This transaction is another important piece in the puzzle of our health care project," Janov said in a press release today
"ISCARE and its specialists exactly fit into our health care strategy and will create a platform for a further expansion in Prague and its vicinity," Janov said.
ISCARE I.V.F. is looking forward to the future cooperation with Hartenberg, according to Winterstein.
"We believe that an entry of a new long-term investor and strategic partner with previous experience in health care, together with sufficient capital, will not only strengthen the clinic's position, but will also contribute to its further development," Winterstein said.
"All the company's key managers and doctors will stay in their posts," he added.
The media reported at the end of this May that Hartenberg had bought companies Reprofit International and GynCentrum through the firm FutureLife. Reprofit International and GynCentrum operate clinics focusing on gynaecology and reproductive medicine.
The fund also acquired stakes in Slovak pharmaceutical companies Imunoglukan and Pleuran.
The Hartenberg fund, established by former Penta group's investment director Janov and ANO movement chairman Babis last year, has a capital of about Kc5bn.
According to Janov, the fund focuses mainly on investment opportunities in the Czech Republic, Poland, Austria and Slovakia.
It targets above all long-term investments with a time horizon of five and more years.