Entrea Capital advised City Clinic on €5m capital increase

Entrea Capital advised City Clinic on €5m capital increase

Entrea Capital advised City Clinic on €5m capital increase

Client: City Clinic
Status: Private
Sector: Healthcare services
Revenue: €17.1m
Web: www.cityclinic.bg
Seller: Empower PE
Status: Private
Sector: Private Equity
Revenue: n.a.
Web:

 

Client: CITY Clinic

  • City Clinic aims to become the leading provider of highest quality, world-standard healthcare services in Bulgaria and the region
  • The facility consists of a modern general hospital in Sofia with a focus on heart and vascular care and a clinic in Varna

 

Investor: Empower PE

  • Private equity provider was Empower, a Bulgaria focused co-investment fund backed by the EIF through the JEREMIE program

 

Situation Overview & Solution

  • City Clinic currently has unmatched team of internationally renown physicians, state-of-the art technology and patient ambience
  • City Clinic was looking for financing to expand its existing operations with the construction of a modern cancer hospital in Sofia
  • The total estimated project cost was €18m, to be financed by a combination of a capital increase and new debt
  • City Clinic hired Entrea Capital to advise it on an exclusive basis on the raising of both equity and debt financing
  • City Clinic successfully closed the envisaged equity tranche of € 5m with Empower Capital and a private co-investor

 

Entrea Capital’s Role and Value Added

Entrea Capital provided the following value-added services to City Clinic:

  • Originated the approach various investors and pitched the idea of providing growth financing to City Clinic
  • Compiled and drafted a detailed investment presentation and financial model providing overview of the client’s business and growth opportunities
  • Served as main point of contact for the client and the investor streamlining the whole communication process and alleviating client’s management team allowing them to focus on the day-to-day running of the business
  • Managed and led the due diligence process coordinating teams of independent specialists providing financial, legal and tax  due diligence services
  • Led the negotiations process achieving tangible savings for the client
  • Led the negotiations process and provided expert advice during the drafting of the transaction documents