Medical services market produces another euro millionaire

On an effervescent private medical services market, businessman Octavian Netcu, who built a group of firms around medical equipment distributor Radiusmed, sold a 70 percent stake to British group Gada, with over 70 million euros in turnover.

As a result of this deal, Netcu becomes a Gada shareholder with a 5.37 percent stake, which makes him the fifth-biggest shareholder after Italian business people, but will also collect cash, with the amount being dependent on the group’s financial results over the next three years.

The companies developed by the Romanian businessman, Radiusmed, Integrine, and Medical Management Services, have been put at 9 million euros, i.e. six times the 2008 EBITDA, according to Netcu. The businessman explained for ZF that the cash accounts for 30 percent of the deal, with the share exchange accounting for 40 percent, and that he will be keeping 30 percent. The takeover of the three companies developed by Netcu is the first of its kind on the medical equipment distribution market.

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