Entrea Capital advised City Clinic, the fastest growing Bulgarian hospital group, on €21m investment and refinancing loan facility

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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

City Clinic had 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
Entrea Capital successfully raised the envisaged equity tranche of € 5.0m from Empower Capital and a private co-investor, the new debt tranche of €13.0m and refinancing of existing debt of €8.5m at better terms from a leading local commercial bank

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

Originated the approach of various banks and pitched the idea of providing growth financing to City Clinic as well as refinancing existing facility
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 financing institution streamlining the whole communication process and alleviating client’s management team allowing them to focus on the day-to-day running of the business
Evaluated different offer structures and performed comparative analysis of equity and debt terms to assist the client in taking the most optimal decision
Managed and led the due diligence process coordinating teams of independent specialists providing financial, legal and tax due diligence services