Hungary's Euromedic acquired for 800M euros by Bertarelli health fund
The Hungarian diagnostics and dialysis company EuroMedic has been acquired for the investment fund Ares Life Sciences by Merrill Lynch for some 800.0 million euros ($1.24 billion). The fund was set up earlier this year by Ernesto Bertarelli the former head of the Swiss biotechnology group Serono, once known as Ares Serono.
The purchase is being seen by European health sector analysts as a move back into health care by Mr Bertarelli who, together with his sister, earned around 6.9 billion euros from the sale of his company to Germany's Merck KGaA (Marketletters passim).
Euromedic has over 159 centers in 14 countries and a workforce of nearly 4,000. Its sales are projected to grow to 284.0 million euros this year, from 140.0 million euros in 2007.
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