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A&O, BDK, Van Campen Liem, Sidley Austin, and ZSP Advise on Mid Europa Acquisition of Majority Stake in Medigroup

A&O, BDK, Van Campen Liem, Sidley Austin, and ZSP Advise on Mid Europa Acquisition of Majority Stake in Medigroup

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Allen & Overy, BDK Advokati, and Van Campen Liem have advised Blue Sea Capital on the sale of a 55% stake in Serbia's MediGroup healthcare provider to Mid Europa, which was represented by Sidley Austin and Zavisin Semiz & Partneri. 

Blue Sea Capital will retain a 45% stake in the company. The transaction is subject to customary competition clearance and is expected to close in second quarter of 2018.

According to a Blue Sea Capital press release, "MediGroup is the leading private healthcare provider in Serbia with 13 facilities across key cities, providing inpatient, outpatient, lab, IVF, ophthalmology and cosmetology services."

Matthew Strassberg, Co-Managing Partner of Mid Europa, who founded and leads its healthcare sector practice, commented: “MediGroup represents an ideal entry platform into the burgeoning private healthcare market in Serbia. We expect to leverage our decade-long experience of nurturing the growth of healthcare providers such as LuxMed in Poland and Regina Maria in Romania to accelerate the development of MediGroup."

"Our partnership with Blue Sea Capital will ensure that MediGroup continues to have access to their local expertise and execution capabilities while benefiting from our significant sector experience and resources as well as the know-how of Regina Maria’s management team.” Csanad Daniel, Principal of Mid Europa, who led the execution of the transaction, added. “With its leading brand and high-quality facilities, MediGroup is poised to capitalize on the significant growth opportunities in the Serbian healthcare market. We are enthusiastic to work together with our partner Blue Sea Capital and MediGroup’s management during the next phase of the Company’s development, supporting it through capital investments for organic and acquisitive growth.”

Sasa Galic, Managing Partner of Blue Sea Capital stated: “I am proud of what the Blue Sea Capital team together with the management has achieved since MediGroup’s launch in 2013."

Vuk Vukovic, Partner of Blue Sea Capital commented: “Through its distinctive approach to the provision of healthcare services and its willingness to invest strongly, MediGroup has become a country leader. The partnership with Mid Europa creates a great opportunity to take MediGroup’s development to another level.”

The transaction was executed by Csanad Daniel, Murat Buyumez, and Can Karapence from Mid Europa, and by Vuk Vukovic, Mirko Milojevic and Marko Jojic from Blue Sea Capital. 

The Allen & Overy team consisted of Consultant Hugh Owen, working with Senior Associates Anna Osinska and Maciej Szykut in Warsaw. Tax advice was provided by Partner Lydia Challen in London. Luxembourg advice was provided by Associate Matthieu de Donder and Partner Peter Myners. London-based Partner Gordon Milne and Bratislava-based Counsel Attila Csongrady assisted on certain finance related matters.

The Van Campen Liem team providing Dutch and Luxembourg counsel consisted of Partners Andrew de Vries, Marcello Distaso, and Aldo Shuurman, Counsel Coen Sip, and Associate Ekaterina Lebedeva.

The BDK Advokati team was led by Senior Partner Vladimir Dasic, assisted by Junior Associates Jelena Zelenbaba and Milica Skaro.

The Sidley Austin team advising Mid Europa was led by Partner Mark Thompson and included Partners Sava Savov and James Crooks, Senior Associate Michelle Tong, and Associates Priya Rupal and  Martin Michalski. Partner Oliver Currall and Associate Jason Pegnall provided tax advice as well.

The ZSP team was led by Partner Natasa Zavisin, supported by Associate Nikola Sugaris.