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Warburg close to selling Euromedic

Warburg Pincus, the US private equity firm, is close to selling Euromedic International, according to Financial News.

Euromedic, based in Hungary, is the largest private provider of diagnostic imaging and dialysis services in central and Eastern Europe. It has offices in 15 European countries, and was bought by Warburg in July 2005.

The potential deal could be worth up to €900m, it is reported. European banking groups ING and Unicredit worked on a recent refinancing of Euromedic, worth €365m.

Investment bank Rothschild conducted a strategic review of Euromedic in January, and sources suggest that a sale is the most likely outcome.

Healthcare businesses are believed to be resistant to wider economic downturn as they are not dependant on consumer spending.

Warburg Pincus

Euromedic International