Medicover AB (OM:MCOV B) completed the acquisition of a 68.3% stake in NIPD Genetics Limited from Ellinas Finance Public Company Limited and existing shareholders.
Medicover AB (publ) (OM:MCOV B) entered into an agreement to acquire a 68.3% stake in NIPD Genetics Limited from from Ellinas Finance Public Company Limited (CSE:ELF) and existing shareholders for 44.4 million on December 9, 2021. Under the terms, Medicover will acquire 68.3% stake in NIPD Genetics Limited for 44.4 million with no debt assumed, implying an enterprise value of 65 million. The acquisition will be funded with current committed debt facilities and consolidated when regulatory approval granted. For the year ended 2020, NIPD Genetics Limited reported revenues of 16.2 million and number of employees amount to 170. The transaction is subject to customary merger control approvals and closing is expected in Q1 2022.
Medicover AB (publ) (OM:MCOV B) completed the acquisition of a 68.3% stake in NIPD Genetics Limited from Ellinas Finance Public Company Limited (CSE:ELF) and existing shareholders on January 11, 2022. The business will be consolidated as of mid of January 2022.