New attempt to privatise Kamien Pomorski sanatorium medicine provider

2010-09-08

The Ministry of the Treasury announced a new auction for Uzdrowisko Kamien Pomorski, a state-owned sanatorium medicine provider in the Zachodniopomorskie voivodship. It is the fourth attempt to privatise the company in just over a year, and comes less than a month after the ministry terminated the third auction due to lack of investor interest.
The deadline for the submission of bids has been set for 30 September. The Treasury is offering to sell nearly 90% of shares in the company. The indicative price for the stake is a little over PLN 7.74m (€2m).
Uzdrowisko Kamien Pomorski provides healthcare, rehabilitation, prevention and recreation services. In 2009 generated revenues of just over PLN 14.3m (€3.6m) and a net profit of just under PLN 0.02m (€0.005m). NFZ contracts account for about 90% of revenues and private patients contribute approx. 10%. At the end of last year it employed 156 people.
The third auction, in April, attracted two bids, from Instytut Zdrowia Czlowieka, a company based in Warsaw that operates a rehabilitation and sanatorium centre in Muszyna (Malopolskie voivodship), and a property fund. Both were invited for late-stage talks, but neither proceeded to submit a binding bid.