By Anna Koper
WARSAW (Reuters) -Abris Capital Partners investment fund is mulling a sale of private healthcare provider Scanmed Group, with Polish cardiovascular care company American Heart of Poland being the most likely buyer, sources familiar with the process told Reuters.
The Polish private healthcare sector is attracting investors as Poles' expenditures on health are growing rapidly. In 2022, expenditures on private healthcare grew by over 10% to almost 52 billion zlotys ($12.94 billion).
"Abris is preparing to put Scanmed on sale with American Heart of Poland being the most obvious buyer," one source told Reuters on condition of anonymity.
Another source confirmed the information, adding the company could be valued even at 350 million euros ($380.63 million). A third person said Abris expects a very high valuation without giving a specific figure.
Abris bought Scanmed in 2020 from Life Healthcare Group Holdings with the company valued at 340 million zlotys.
If the deal goes through, it will be another example of a merger in the Polish private healthcare sector after Italy's Gruppo San Donato agreed to buy a majority stake in American Heart of Poland, valuing the company at more than 500 million euros($544.35 million).
Abris declined to comment, while American Heart of Poland described itself as "an entity actively consolidating the medical care market in Poland".
"As part of our strategic options, we consider organic growth opportunities as well as mergers and acquisitions. We are currently analysing all development opportunities that may increase the group's potential," it said in an e-mailed statement.
Scanmed runs medical and cardiology centres as well as three multi-specialist hospitals in almost 40 locations across Poland.
The group had a net loss of 13.9 million zlotys on revenue of 615.6 million zlotys in the 15 months ended on December 2022, compared to a net loss of 12.3 million zlotys and 410.5 million zlotys in revenue in the 12 months ended in September 2021.
($1 = 4.0199 zlotys)
($1 = 0.9195 euros)
(Reportin by Anna Koper; Editing by Bill Berkrot and Cynthia Osterman)