The seller of the stake is ASEF Holdco SARL, the investment vehicle of the Adriatic Structured Equity Fund (ASEF SCSp), managed by Provectus Capital Partners. ASEF Holdco will remain the majority shareholder of the Group following completion of the transaction. The agreement has been concluded subject to conditions precedent, including approval by the relevant competition authorities.
In line with its strategic ambitions, Triglav seeks opportunities to further develop its business, including through the potential creation of ecosystems in the Adria region. These bring together insurance services and the providers of those services, thereby enhancing the user experience. Triglav's investment in Arsano Medical Group, one of Croatia's leading private healthcare groups, represents a step in this direction, while the partnership with Provectus Capital Partners and the healthcare Group's management will focus on its continued growth. Arsano Medical Group currently comprises seven polyclinics and specialist hospitals across Croatia, employs more than 400 professionals and provides care to more than 80,000 patients annually.
"Over the past few years, Arsano Medical Group has demonstrated its ability to combine excellence in healthcare with entrepreneurial dynamism. We are pleased to become a co-owner of the Group and, together with our partners – the private equity firm Provectus Capital Partners and the management of Arsano Medical Group – to be able to support its continued growth and thereby help create new opportunities to strengthen high-quality private healthcare services for the benefit of both patients and policyholders. Together, we bring complementary expertise, experience and resources, providing a strong foundation for achieving these objectives and creating added value for all our stakeholders", commented Andrej Slapar, President of the Management Board of Zavarovalnica Triglav.
"Croatia's fragmented private healthcare market offered an opportunity to build a leading healthcare group through a disciplined buy-and-build strategy in partnership with outstanding founders, medical professionals and management. The progress achieved over the past five years has validated our investment thesis and established a strong foundation for continued growth. This transaction represents an important milestone in that journey, marking the beginning of a new phase in Arsano Medical Group's development. We are pleased to welcome Triglav as a shareholder whose expertise complements the capabilities developed within the Group and look forward to remaining the majority shareholder alongside Triglav as we continue supporting the Group's long-term growth", said Igor Čičak, Managing Partner, Provectus Capital Partners.
"Over the past five years, Arsano Medical Group has grown from a single polyclinic into Croatia’s leading private healthcare group while remaining focused on what matters most: delivering high-quality care to our patients. That progress has been made possible through the dedication of our medical professionals and employees, together with the support of Provectus as a long-term partner. We are pleased to welcome Triglav as a new shareholder. Its expertise in health insurance and healthcare management complements our clinical capabilities and creates new opportunities to continue investing in our people, facilities, technology and medical excellence. Together with Provectus, we look forward to building on the strong foundations established over the past five years and continuing to deliver outstanding care for our patients", added Boris Rivić, CEO of Arsano Medical Group.
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