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% stake to British group Gada, with over 70 million euros in turnover.

In the wake of this deal, Netcu becomes a Gada shareholder with a 5.37% stake, which makes him the fifth-biggest shareholder after Italian businesspeople, 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% of the deal, with the share exchange accounting for 40%, and he will be keeping 30%.

The takeover of the three companies developed by Netcu is the first of its kind on the medical equipment distribution market.