09.08.2011
WOLF THEISS ADVISES ON EUR 32 MILLION INVESTMENT FOR THE ACQUISITION OF MEDICOVER HOSPITAL IN WARSAW

Vienna, 4 August 2011 – WOLF THEISS advised Erste Group in connection with a EUR 32 million investment loan for the acquisition of the Medicover Hospital in Warsaw.

A team of members of Wolf Theiss' Projects Group, led by Senior Associate Wolfram Huber and Partner Andreas Schmid, advised on the structuring and financing of the acquisition of the shares in Medicover Property & Development Sp z o.o., owner of the Medicover Hospital in Warsaw, by the Luxembourg-based Celox Group. The Medicover Hospital is a very important asset in Medicover’s portfolio of healthcare operations in Poland. The investment loan has been granted for a period of 10 years.

Commenting on the deal, Andreas Schmid noted: "This marks another first-to-market deal for Wolf Theiss' Projects Practice. We pride ourselves on our involvement in cutting edge work, and the Medicover Hospital in Warsaw is the perfect example of such a landmark transaction." Wolfram Huber adds: "It was a substantial and trend-setting deal, not only for the Polish market but also for the CEE healthcare sector in general, as it represents one of the largest private medical facility investments in CEE." Wolf Theiss was supported by Beiten Burkhardt with regard to all Polish law aspects.

Medicover is the leading private healthcare organisation in Central and Eastern Europe. It serves 6,000 companies and 500,000 people in Poland, Romania, Hungary, the Czech Republic, the Slovak Republic, Germany, Ukraine and Estonia. According to the ‘’Private healthcare market in Central and Eastern Europe’’ report published by PMR Publications, the private healthcare market in the region is estimated to be worth EUR 24 billion in 2011, growing on average by 20% per annum.

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