Krokus buys Polish healthcare business

Krokus PE, a Polish private equity outfit, has acquired a 44% stake in POLMED, a Polish healthcare provider.

The deal was financed through Krokus’ Nova Polonia Natexis II Private Equity Fund, a €100m expansion and buyout vehicle.

POLMED’s operations are concentrated in northern Poland, but co-operates with sub-contracting clinics in other parts of the country.

Witold Radwanski, president and managing partner of Krokus PE, said: “The healthcare sector in Poland is large and growing, while increasing health awareness among Poles is inducing changes on this market. We believe that POLMED’s strategic objective of creating a nationwide chain of medical centers with a comprehensive scope of services will be accomplished efficiently in the midterm perspective.”

Krokus launched its fund in June 2007 and focuses on the Polish lower and mid-market, investing between €3m and €10m per company. POLMED is the fund’s fifth investment.