Affidea, the leading specialist in diagnostics investigations, clinical laboratories and cancer treatment services in Europe, has announced the signing of an agreement to acquire Hiperdia Diagnostics Centres, a leading provider of high performance medical imaging services in Romania.
Hiperdia was founded in 1997 and offers high performance medical imaging, laboratory and clinical consultations in 23 medical centres operating in 12 counties in Romania. Affidea, headquartered in Hungary and registered in the Netherlands, also acquired Sanmed medical centres in 2015.
Dimitris Moulavasilis, Affidea Group CEO, said: “Having Hiperdia join the Affidea network is proof of our commitment to extend long-term medical services of excellence for the benefit of patients in Romania. We have great respect for the quality of care and operational excellence within Hiperdia. These are the values that bring us together, and I am confident that with this addition, Hiperdia will strengthen our leading position in the European high performance medical imaging services landscape.”
Dr. Octavian Lebovic, CEO of Hiperdia said: “Since its inception, the 20 years ago, Hiperdia’s main objective was to provide high-performance quality medical imaging services to provide doctors and our patients accurate and complete diagnosis. Selecting a new partner for Hiperdia was a decision I analysed carefully, and I believe Affidea is the best choice. This transaction is a guarantee that everything we have done so far in Romania is appreciated and validated at the highest level, by one of the largest healthcare providers in Europe.”
In this transaction, which still requires approval from regulators, the Affidea Gorup was advised by Rizoiu & Poenaru, Clifford Chance and Skadden, Arps, Slate, Meagher & Flom (UK) LLP, and Deloitte. Bondoc & Associates and Weil, Gotshal & Manges assisted Hiperdia in the deal.
Interview with Lucian Poenaru of Rizoiu & Poenaru:
- Please tell me about your involvement in the deal?
Rizoiu & Poenaru advised Affidea on issues related to Romanian law. We acted as the commercial counsel for the purchaser dealing with corporate, M&A, medical, operational and general business law matters of the transaction. We were also involved in drafting and negotiating the SPA and relevant documentation as it regards the contract law aspects of the deal.
- Why is this a good deal for all involved?
This transaction is mostly beneficial to the recipient of the medical services covered by the parties to the deal. Thus we reckon that the deal should be read as a landmark to such medical services for diagnostics investigations, clinical laboratories and cancer treatment services. Due to its composite nature and importance in scope, the transaction was also good for the counsels involved, as it regrouped law matters of different complexity and nature, and referred to various laws applicable to the deal.
- What challenges arose? How did you navigate them?
Because the transaction is still subject to further approval by the Competition Council, we cannot provide details on the deal at this point.