EMC in race for three sanatorium providers

2010-03-10

EMC Instytut Medyczny, the listed healthcare group, has submitted indicative bids for all three state-owned sanatorium medicine providers whose privatisation got underway early last month. The three companies are: Sanatorium Swieradow-Czerniawa, Sanatorium Cieplice, and Sanatorium Szczawno-Jedlina, all in the Dolnoslaskie voivodship. Their auctions attracted seven, six, and eleven bidders, respectively, a level of interest that deputy treasury minister Joanna Schmid described as high. The ministry plans to complete their privatisation in the third quarter of the year. Investors whose indicative offers are found to meet formal criteria will be invited to conduct due diligence reviews, and then to submit binding bids.
Most of the other potential investors are from outside the healthcare sector. One exception is Polskie Centrum Zdrowia (PCZ), a healthcare management group based in Wroclaw, which is in the race for Cieplice and Szczawno-Jedlina.
The Treasury is offering to sell around 90% of shares in each of the three companies. All provide healthcare, rehabilitation, convalescence and leisure services. The main criteria in selecting the winning bid will be price and development strategy (including investment programme).
The Treasury is thus pressing ahead with its plan to sell ten sanatorium facilities this year. It has already privatised two.