Advent International, a leading global private equity firm, made its first foray onto the Ukrainian market after it acquired a controlling stake in ISIDA, what it described as a cutting-edge private healthcare provider.
The acquisition, announced on March 10 by both companies, comes three years after Advent opened an office in Ukraine.
Part of Advent’s Central and Eastern Europe $1.6 billion investment program, the investment will provide ISIDA with the expertise and financial resources required to expand its healthcare service network to clients in other regions of Ukraine.
Viktor Kozin, CEO and co-owner of ISIDA said at the press conference that $138 million is required to fulfill the company’s business development plans.
Citing an informed source, Ukrainian business daily Kommersant said that ISIDA was worth $50-60 million. If the valuation is accurate, it suggests that Advent could have paid tens of millions of dollars for the controlling stake in ISIDA.
Founded 18 years ago and based in Kyiv, ISIDA is unique in providing world class gynecological, maternity and pediatric care services as well as the latest infertility treatment options and genetic research all under one roof.
“Ukraine is a key emerging market in Central and Eastern Europe that has strong demand for high quality healthcare services,” said Tamas Nagy, managing director in Ukraine for Advent International.
“The investment in ISIDA is our first in Ukraine and one that holds great promise,” Nagy added.
Since its inception in 1984, Advent has raised $26 billion in private equity capital and, through its buyout programs, has completed over 250 transactions valued at approximately $50 billion in 35 countries.
