Medicover raises EUR 120 million with inaugural schuldschein loan

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Medicover has carried out its first Schuldschein issue (a German private placement debt instrument), with a total of EUR 120 million in Euro-denominated tranches with maturities of 5 and 7 years, at fixed and floating rates. The issue was oversubscribed and increased from the initially offered EUR 100 million.

With this transaction, Medicover was able to diversify its sources of financing and substantially expand the investor base, notably towards German, Asian and Polish institutional investors. Demand across all tranches was high, reflecting the company’s good financial position.

Medicover further strengthen liquidity and make use of attractive market conditions with margins of 1.2% and 1.5% for both the fixed and floating rate tranches, in 5 and 7 years, respectively.

“This agreement significantly strengthens our position as a group and enables us to further develop our acquisition programs in Poland and Romania. Its pleasing to see such significant organisations supporting our development and enabling us to step up our development agenda. In recent times we have expanded extensively in the polish dental market welcoming 15 clinics into our network and expanded the number of hospitals to over 20 within the group including  Pelican Hospital in Oradea and Neomedic hospitals in Poland. We intend  to expand our clinical network in Romania that has seen us add over 11 new clinics including Dr Luca, Iwoemed and Phoenix medical centres and commence similar deals in Poland”, says John Stubbington, COO Healthcare Services, Medicover.


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