25 Aug 2023 - Healthcare

Gruppo San Donato To Expand European Presence Through The Acquisition Of A Majority Stake In American Heart Of Poland

PRESS RELEASE

Milan, Italy - 25 August 2023


The agreement, carried out in partnership with GKSD S.r.l., reinforces the position of the healthcare group on a European level.


·       AMERICAN HEART OF POLAND, the largest independent provider of comprehensive cardiovascular care in Europe, one of the three largest private healthcare providers in Poland;

·       Thanks to this agreement, Gruppo San Donato, Italy’s largest private healthcare group, reinforces its position as the leading European healthcare group;

·       The synergy between the two groups will help to share the respective strengths in terms of business model expansion, R&D and healthcare education;

·       The deal will create a leader in cardiovascular disease treatment in Europe.


Gruppo San Donato (“GSD”), in partnership with GKSD S.r.l. (“GKSD”), hereby announces the execution of an agreement for the acquisition of a majority stake in AMERICAN HEART OF POLAND (“AHoP”), the largest independent provider of comprehensive cardiovascular care in Europe, one of the three largest private healthcare providers in Poland with the largest medical rehabilitation / spa complex.

Thanks to this agreement, Gruppo San Donato, Italy’s largest private healthcare group, reinforces its position as the leading European healthcare group in line with its strategic path to support the consolidation of the healthcare sector in Europe.

 

The transaction will create a leader in cardiovascular disease treatment in Europe and will lead to advancement of quality healthcare, healthcare research and education in the continent.

 

The combination will be highly synergic thanks to complementary areas of strength of the 2 groups (e.g. business model expansion in Poland leveraging on GSD experience, enhanced top medical talent sourcing, collaborative R&D, access to advanced healthcare education and training, know-how and best practise exchange, creation of a joint international procurement group) and will pave the way for further consolidation both in Poland and in Europe.

 

Gruppo San Donato is Italy’s largest private healthcare group and the leading European healthcare group specialising in acute care, medical education and research. With 56 medical sites, world leading teaching and research hospitals, university (Vita Salute San Raffaele University with 22 masters’ programmes and PhD level education) as well as medical research ranking top 10 globally (by medical research citations), Gruppo San Donato is the pioneer of gene and cell therapy globally. GSD treats over 5.4 million patients in a year undertaking over 14 million procedures and employing over 27,000 medical professionals.

 

GKSD manages a diverse portfolio of operating companies in Italy, that generates added value for its stakeholders by leveraging on its unique know-how. GKSD focuses on a number of sectors including real-estate, engineering, energy, procurement and healthcare advisory services.

 

AHoP, thanks to its management, has become the leading private healthcare provider in Poland, offering superior medical and rehabilitation care to public sector, delivering over 2.5x organic revenue growth over the last 3 years, which reached c. EUR 250 million today. The company is planning to accelerate a dynamic market consolidation in order to further boost the group’s growth and the management strategy assumes further doubling the group operations with investments exceeding PLN 1 billion (circa Eur 225 million) to deliver public patients world-class medical care.

 

AHoP is recognised for achieving the highest standards of quality through a skilled base of medical experts. With 77 sites (20 cardiology wards, 2 vascular surgery wards, 4 rehab, 22 outpatient clinics, diagnostics and lab points) and supported by over 3,780 quality staff including 1,200 Doctors, the group remains focused on supporting the Public Health system in Poland. AHoP specialises in aging society diseases with complexity of treatments from high-end complex operations though rehabilitation programme and outpatient & diagnostic care. The group operates in rural areas to cover 78% of population of Poland. AHoP is a partner and provider to the Ministry of Health and National Healthcare Fund with core focus on cardiovascular diseases covering more than 12% of acute cases all over Poland.


GSD and GKSD were supported by BNP Paribas (Sole Financial Advisor), LEK Consulting, Deloitte, GKSD Advisory, while Rymarz Zdort Maruta provided legal advice.


AHoP’s shareholders were supported by PWC (Corporate Finance and Transaction Services) and Clifford Chance, while Dentons provided legal advice to the management.


The transaction is subject to clearance of the Office of Competition and Consumer Protection in Poland.


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Mr. Paolo Rotelli, President – Vita-Salute San Raffaele University and Vice President of Gruppo San Donato said: The development of quality healthcare, advancement in medical research and quality education that is supported by the advancement and innovation in technology remain the key focus for Gruppo San Donato. Poland is an important economy and GSD is looking forward to expanding and improving quality of care in the country’.


Mr. Kamel Ghribi, Chairman of GKSD S.r.l. said: The entry of the Group in Poland will also allow for greater collaboration in other sectors including energy and infrastructure which are also a key focus for GKSD S.r.l., and the partnership between GSD and GKSD is proving increasingly effective in the Group's international expansion”.


Mr. Adam Szlachta, CEO of AHoP Group said: “Over the last few years we replaced all major medical equipment and invested in two new general hospitals to bring our asset base to world-class level. We are very proud that GSD appreciated the level of medical care and will support us in further organic and M&A growth. GSD is a great partner for further investment program, brings incredible know-how to further enhance medical standards in Poland in close partnership with NFZ. I am fully convinced that the GSD and AHoP partnership will translate in providing Polish citizens with best-in-class medical services.”  


Professor Pawel Buszman, Founder of AHoP, said: As a founder of the AHoP, which was established in 2000, I am very glad that our medical company joins the renowned international hospital network led by Gruppo San Donato. It is also important, that its further development will be supported by prominent GKSD S.r.l. During last 23 years, we have established high quality and comprehensive cardiovascular services for Polish citizens spread around the country, endorsed by state-of-the art scientific research. As a part of the global corporation, our experienced staff will support further expansion of modern medicine worldwide.”

 

Mr. Zbigniew Czyż, Founder of AHoP added: “I am so proud of the management team and would like to thank all employees and partners of AHoP for creating such an incredible healthcare provider. We saved so many lives and I am sure that future of the group’s patients is even brighter.”

 

Rafal Sosna, one of the key shareholders commented: AHoP through professionalisation and innovation has become one of the key participants in the Polish healthcare market. I am certain that the partnership with GKSD will only accelerate the pace of the company's development and I am confidently looking into the future of AHoP”.


ITALIAN VERSION

GRUPPO SAN DONATO SI ESPANDE A LIVELLO EUROPEO: ACQUISITA LA MAGGIORANZA DI AMERICAN HEART OF POLAND