Radiusmed shareholder says he will focus on niche services

Octavian Netcu, one of the new euro millionaires of the healthcare services market, who sold 70% in a new group of firms developed around Radiusmed medical equipment distributor, says he will focus on niche services such as distribution of heart surgery equipment during the following period to balance revenues, which are now mainly derived from the distribution of large devices. The deal Netcu was involved in was complex, entailing, besides the sale of a stake, an equity swap, so that Netcu, 41, became the youngest shareholder in the buyer of Radiusmed, Gada English group with turnover worth above 70m euros. He currently holds 5.37% in Gada, together with another four Italian businesspeople. Radiusmed group was valued at around 9m euros, six times 2008 EBITDA. According to ZF estimates, Netcu should get 2.7m euros, corresponding to 30% in the company, with the rest of 40% being swapped for Gada shares. The Romanian businessman keeps the rest of stock. The payment will be made in late 2011, though, depending on the company’s financial results that year, and the sum may be higher.