Lux-Med and EMC vying for state sanatorium provider

2010-02-18

Two major private healthcare providers: Lux-Med and EMC Instytut Medyczny, have submitted initial offers in the privatisation of Zespol Uzdrowisk Klodzkich (ZUK), a sanatorium medicine provider with 14 hospital and sanatorium sites in the Dolnoslaskie voivodship. The auction has attracted a total of seven bids, a level of interest that deputy treasury minister Joanna Schmid described as “high”.
The Treasury Ministry is currently reviewing the offers for formal compliance and is yet to announce a timetable for direct negotiations. It is offering to sell 85% of shares in the company. The remaining 15% shares could be taken up by employees. The main criteria in selecting the winning bid will be price and proposed development plan (including capital increases and an investment programme).
ZUK is the largest sanatorium provider in Southwestern Poland. It specialises in the treatment of cardiological, gastrointestinal, locomotor-system, respiratory, gynaecological and endocrinological conditions. National Health Fund (NFZ) contracts represent a substantial proportion of its revenues. The company aims to expand its sanatorium operation as well as to move into spa and wellness.
The other bidders are from outside the healthcare sector.
This year to date, the Treasury has privatised two sanatorium providers and initiated the privatisation of a further six. The plan is to sell ten providers by the end of 2010.