Polmed S.A

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Polmed Group (‘Polmed’ or the ‘Company’) established in 1999, is a diversified healthcare group offering services mainly in areas of outpatient care, imaging diagnostics, and rehabilitation operating in Poland with 31 facilities across 11 cities/towns, with over 700 medical professionals and total staff about 1,000. The Company growth has been largely driven by acquisitions.The proposed investment is an equity investment of up to €33m for a minority stake in Polmed for expanding its existing operations through organic growth and acquisitions in Poland (the ‘Project’). The proceeds of IFC’s proposed investment will be used to finance a potential acquisition of an existing company (the ‘Target’) in Poland which provides specialized services for oncology patients and potential expansion plans of Polmed.Polmed’s main business lines and subsidiaries/facilities include: Jantar Rehabilitation Hospital, a 360-bed rehabilitation hospital is located in Gdansk covering approximately 37,000 m2 area which is operational since 2012, acquired by Polmed in 2021 – open all year round. Jantar is specialized in systemic (orthopedic), cardiac and neurological rehabilitation. The hospital complex and land owned by Polmed. Jantar has a total of around 80 employees. Additionally, during the summer period, Jantar rents out several (~10) stand-alone holiday homes. Polmed Outpatient Clinics is offering primary care, specialist consultations and various outpatient treatments in 18 own and over 4,000 partners facilities across Poland. They have around 210 medical and administrative staff.  There is also a call center with 120 employees that provides service in making appointments for diagnostic centers and outpatient clinics which is located in Starogard Gdanski, Poland. Diagnostic Centers are offering imaging diagnostics using MRI, CT, and X-RAY specialist equipment in eleven facilities across Poland with around 100 employees. Nordmedic, offers a home-based rehabilitation services in four voivodships (Pomorskie, Podkarpackie,Slaskie and Mazowieckie), outpatient rehabilitation service (in Gydnia) and in-patient care and treatment facility in Poland (nursing home in Gardna Wielka). Nordmedic has a total of around 370 employees. Nordmedic was acquired by Polmed in January 2024. Typically, the outpatient and diagnostic facilities are relatively small in size and set-up in leased premises in/near residential areas.