Fund that bought into MedLife is negotiating three other deals

Investment fund Societe Generale Asset Management (SGAM) Eastern Europe, held by financial giant Societe Generale, which last year took over 36% in medical services operator MedLife for around 20 million euros, is currently negotiating three other deals, both in the medical sector, and in other crisis-resistant sectors.
“We see opportunities in Romania, this is a leading market for us. This year will definitely see economic decline. I estimate it will be close to 1%. Over the next decade, however, I don’t know whether necessarily in 2011, Romania will see economic growth above other countries in the region. It will perform better,” Leo Gherghina, SGAM partner, told ZF in an interview. He only mentioned the medical sector as an area of interest, without specifying the other sectors he was targeting.
The takeover of MedLife last year was followed a few months later by the acquisition of Centrul Medical Unirea (Unirea Medical Centre) by another investment fund, Advent International, which made the private medical sector very attractive for investors. The market, put at 373 million euros in 2009, will continue to grow and to attract investments, being one of the few sectors currently on the rise.