Polish Treasury approves employee buyout of Famed

2010-08-24

The Ministry of the Treasury has sold 91% of shares in Famed Lodz, a major domestic maker of medical equipment, to a company owned by its employees, in a rare case of an employee buyout of a state-owned healthcare firm.
The buyer is Famed – Nowe Technologie, a 51/49 joint-venture between Famed employees and Aspel, a maker of cardiological equipment. It saw off competition from Specjal, a wholesaling group from Southern Poland that among other things is the owner of Cezal Rzeszow, a maker and distributor of medical equipment and supplies.
Famed Lodz’s core specialty are operating, treatment and diagnostic lamps. The company employs about 100 people. It supplies to Polish hospitals as well as to a range of foreign markets, including Southern Europe, Mexico and Arab countries. Exports account for about 50% of sales.