Mid Europa Partners Acquires Dr N. Med. Teresa Fryda Laboratorium Medyczne Sp. Z.o.o. and Consolidates The Polish Laboratory Market
13.12.2011
Mid Europa Partners (“Mid Europa”), the largest private equity firm focused on Central and Eastern Europe, announced today that it has acquired Dr n. med. Teresa Fryda Laboratorium Medyczne Sp. z o.o. (“Fryda” or the “Company”), through a jointly controlled entity, Polska Grupa Laboratoriów Medycznych Sp. z o.o.
This transaction marks a further step towards the consolidation of the Polish laboratory market, which was initiated in January 2011 through the acquisition of a strategic stake in Diagnostyka Sp. z o.o. (“Diagnostyka”), the Polish market leader.
Fryda is one of the leading players in the Polish laboratory diagnostics market, offering services to hospitals, private clinics and individuals. In 2010, the Company performed ca. 10 million tests in more than 30 laboratories across Poland.
Paweł Padusiński, Director at Mid Europa Partners, commented: “We are pleased to announce another investment in the Polish private healthcare services. The acquisition of Fryda is a major step towards our goal of consolidating the Polish laboratory sector. We believe that the strong market positions of Diagnostyka and Fryda, together with our experience and the financial resources of Mid Europa, will allow the Group to fully take advantage of the Polish market’s high growth potential.”
Teresa Fryda, founder and CEO of the Company, said: “We are looking forward to partnering with Mid Europa, as they share our strategic plans for the Company and our vision of the Polish laboratory market. We believe that working alongside such an experienced investor will allow us to significantly increase the Company’s value.”
Jakub Swadźba, co-founder of Diagnostyka, added: “We strongly believe that our cooperation with Fryda will contribute to the further development of modern laboratory services in Poland. It will enable both companies to complement their offering, to share their long-standing professional experience and to collaborate on the implementation of innovative projects.”
The transaction was executed by Paweł Padusiński and Jan Krzewiński from Mid Europa. Mid Europa was advised in this transaction by PwC and Weil Gotshal & Manges.
For further information please contact:
Mid Europa Partners:
Matthew Strassberg
+44 20 7886 3628
Paweł Padusiński
+48 22 540 7120
Citigate:
David Westover/Agnès Riousse
+44 (0) 20 7638 9571
Notes to the editors:
ABOUT MID EUROPA PARTNERS
Mid Europa Partners is a leading independent private equity firm focused on Central and Eastern Europe. Operating from London, Budapest and Warsaw, Mid Europa Partners advises and manages funds with asset value of approximately €3.2 billion. The Mid Europa Partners team has been investing in Central and Eastern Europe since 1999.