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PNSA Advises Medicover on the Acquisition of Majority Stake in Pelican Hospital

PNSA Advises Medicover on the Acquisition of Majority Stake in Pelican Hospital

Romania
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PNSA has advised Medicover on the acquisition of a majority stake in Pelican Hospital in Romania. 

The acquisition involves an 80% stake of the hospital and clinical business of Pelican. The remaining minority shareholders are the founding surgeons who will remain active in the business.

Pelican is, according to PNSA, "a fully equipped hospital with 130 beds, 5 operating theaters, imaging diagnostics and supporting activities. Established in 1992 by leading surgeons, it is the foremost healthcare provider in the north-western part of Romania. The company is currently underway expanding a further 4,000 square-meter new-build adjacent facility, adding some 100 beds and a research facility. This will also include the area of highly specialized care such as interventional cardiology or 3D laparoscopic surgery since there are no other similar private providers."

According to a Medicover press release, “the acquisition will turn Medicover into the leading private provider in the region, with a total catchment area population of some one million.”

Fredrik Ragmark, the CEO Medicover said: “The acquisition of Pelican will significantly increase our footprint in the north-western part of Romania and the transaction is accretive and will create synergies both on the clinic, hospital and laboratory side. We will through the acquisition create a new platform for further growth.”

Ovidiu Gogu Cacuci, one of the founders of Pelican Hospital, added: “We are delighted to join Medicover, who’s belief in long term development of health services in Romania fits with our mission. We will together be able to further develop our infrastructure and services for the population in our region.”

The PNSA team was led by Partner Silviu Stoica and included Managing Associate Vlad Ambrozie, Senior Associate Cristina Marcu, and Associates Camelia Constantin, Codrin Luta, Ioana Dumitru, Luana Dragomirescu, Elena Eftene, and Ioana Avram.

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Țuca Zbârcea & Asociații is a full-service independent law firm, employing cross-disciplinary teams of lawyers, insolvency practitioners, tax consultants, IP counsellors, economists and staff members. It also operates a secondary law office in Cluj-Napoca (Romania), and has a ‘best-friend’ agreement with a leading law firm in the Republic of Moldova. In addition, thanks to the firm’s dedicated Foreign Desks, the team provides the full range of services to international investors seeking to gain a foothold or expand their existing operations in Romania. Since 2019, the firm and its tax arm are collaborating with Andersen Global in Romania.

Țuca Zbârcea & Asociaţii is providing legal services in every aspect of business, covering all major areas of practice: corporate and M&A; litigation and international arbitration; corporate tax; public procurement; TMT; employment; insurance; banking and finance; capital markets; competition; healthcare and pharmaceutical; energy and natural resources; environmental; intellectual property; real estate; regulatory legal services.

Țuca Zbârcea & Asociaţii is a First-Tier law firm in all international legal directories and a multiple award-winning law firm both locally and internationally. It received the CEE Deal of the Year Award (DOTY Awards 2021) and the Law Firm of the Year Award: Romania (IFLR Europe Awards 2021). 

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