NMC sells the Eugene Group for 430 million euros

NMC Healthcare has entered into an agreement to sell the Eugene Group to the European Fresenius Helios Group.

According to Arabnet, the total value of the deal is 430 million euros ($ 524 million), and is expected to take place during the first half of 2021.

The sale of the Eugene Group, which consists of the Warmia and Boston IVF companies, is an advanced and positive step for the group as it shows, the level of interest in the sale, the quality of the assets and the growing strength of the company's core business. NMC Healthcare, according to a statement issued by the company today.

and in August 2020, NMC Healthcare approved a three-year business plan, which included a renewed focus on driving growth in core markets in the Middle East.

NMC Healthcare is committed to looking for exits on commercial terms from international activities that are not essential to its vision. While this deal is considered an important strategic achievement towards the resumption of the work plan.

With up to 40 clinics and locations across Europe and Latin America, La Warmia is a global leader in fertility and IVF services, with more than 25,000 Annually operation. It is worth noting that NMC acquired Loarmia in 2015, which contributed to the widespread growth of the company, after it opened clinics in a number of countries, including Brazil, Argentina, Sweden, Italy and Denmark.

The Boston IVF Company, with up to 25 clinics and sites, is a leading nationwide company in the United States of America, and performs more than 10,000 procedures annually. . NMC acquired Boston IVF in 2018 and has grown significantly across the United States over the past two years. On a combined scale, Warmia and Boston IVF generated nearly € 160 million in revenue in 2019.

Michael Davis, CEO of NMC Healthcare, said: The sale was very competitive, and this is a testament to the strength of the Eugene Group through Warmia and Boston IVF as we are pleased. Sale to a well-established international healthcare company such as Fresenius Helios.

and continued: Earlier this year, we made a strategic decision to focus our resources on our core assets in the Middle East and this was the main driver behind the decision to sell the Geogen Group.