Polish Enterprise Fund VII (PEF VII), a private equity fund managed by Enterprise Investors (EI), has acquired a significant minority stake in Nu-Med Group, which operates a radiotherapy center in Elbląg, northern Poland. This is the fund's second investment in medical services for oncology after its acquisition last year of the Center for Cancer Diagnostics and Therapy in Katowice, southern Poland. Enterprise Investors does not preclude consolidating these two entities in the future, within its strategy of building a group of specialist hospitals in the country. The value of the transaction and size of stake acquired were not disclosed.

The Elbląg-based Nu-Med center started full-scale radiotherapy operations in January 2013. The facility is owned by the Nu-Med Group and is located within the grounds of the voivodship hospital in Elbląg. The center is equipped with 3 linear accelerators and 25 hospital beds (with another 25 to be added within three months). Nu-Med has a contract in place with the Polish National Health Fund and offers medical treatment for oncology patients in northern Poland.

"Buying into Nu-Med is a strategically important move that allows us to create a consolidation platform and a potential market leader out of the companies we own as well as those we may acquire and develop in the future. We are already in negotiations regarding further openings of radiotherapy centers in various parts of Poland," said Michał Kędzia, vice president of Enterprise Investors responsible for the investment.

"Our strength lies in the fact that we have experienced oncology professionals and that by working with the specialized voivodship hospital we provide the full range of cancer treatments. By partnering with an experienced financial investor such as Enterprise Investors we will significantly improve our competitive position in the market of oncology services," commented Henryk Niewadzioł, Nu-Med's president and co-owner.

Enterprise Investors is one of the largest private equity and venture capital firms in Poland and Central and Eastern Europe. Active since 1990, the firm has raised eight funds with total capital of €2 billion. These funds have invested €1.6 billion in close to 130 companies across a range of sectors and exited close to 100 companies with total gross proceeds of €1.8 billion. The company has broad experience in investing in different segments of the Polish medical market. The EI-managed funds have invested a total of €105 million in companies from this sector thus far. Enterprise Investors has been developing the Center for Cancer Diagnostics and Therapy since September 2012.

For further information please contact:

Michał Kędzia
Vice President of Enterprise Investors
tel. (+48 22) 458 85 00

Iwona Drabot
PR Director of Enterprise Investors
tel. (+48 22) 458 85 00