New health giant to emerge - Blue Sea Capital investment fund takes over health center Dr. Ristic and special hospital Jevremova

When the regional "private equity" fund Blue Sea Capital in October last year took 100% ownership of the Health center Dr Ristic, it announced further consolidation of private healthcare market in Serbia. In May this year, a partnership with the Special Hospital for Gynecology Jevremova was signed and at the end of last month, more accurately June 21st it signed with Delta Generali insurance contract implying a 100% takeover of the Health Center Jedro.

By integrating these health facilities "under one roof" the first private health platform in the Serbian market, "MediGroup" which boasts half a million procedures and over 200 000 patient visits per year was formed.

- Investing capital in private health institutions in Serbia, the investment fund "Blue Sea Capital" has initiated the process of creating "MediGroup", the first of its kind in Serbia. Guided by a number of successful examples from neighboring countries, where there are long chains of private healthcare institutions in the composition of their networks provide a wide range of health services to the population of these countries, the Fund recognized an opportunity for an investment of this type in Serbia - Milena Gajovic Shrestha, director of the office of the" Blue Sea Capital in Belgrade said for eKapija.

In this fund, however, they do not want to reveal the value of these acquisitions since, as they say, contracts are not subject to public disclosure, which is a part of common practice everywhere in the world.

Network of associated private health institutions

Functioning of the first health platform in Serbia is based on building a network of one's own health centers u in Belgrade and several other cities of Serbia. Although having the same ownership structure, members of MediGroup are registered as separate hospitals. Network will consist of health centers in primary health protection which would provide top health service in secondry and tertiarry health protection if needed.

Darko Jelic, GM at MediGroup, says in his interwvie for eKapiju that the market of private health sector in Serbia has been traditionally undeveloped and featured by existence of majority of smaller institutions which did not cooperate or exchange expertise or resources.

- Setting up of MediGroup is a sign that private health care in Serbia is following the examples of good practice in the world. Mutual vision of MediGroup members is that "MediGroup" becomes significant national provider of high quality health service to the territory of Serbia, with a network of own health institution, recognizable by its availability and high quality of services.

The First health platform in Serbia aims at providing a wide range of medical service to citizens of Serbia, and since the essence of business is contained in increasing the quality of health services, providing contonuous professional education of the local staff and exchnage of practice with system like MediGroup is an area of potential cooperation between private and public health sector.

Expansion

- At this moment, members of MediGroup have more than 250 staff in total, more than 200 of them full-time doctors and medical staff - Milena Gajović Shrestha says, adding that current members are private health institutions with extensive work experience, recognizable brand and excellent reputation.

Blue Sea Capital fund believes in further platform expansion through the opening of new facilities, as well as through takeovers over the taking ones.

- MediGroup network of unified private medical institutions of Serbia has a vision to become a leading national health care services provider. Having in mind further expansion plans, the MediGroup management team together with the Blue Sea Capital fund is ready start the process of considering joining the group with private health institutions which recognize and share our values ​​ - Gajovic Shrestha said.

Ivana Bezarevic