Polish Enterprise Fund VII (PEF VII), a fund managed by Enterprise Investors (EI), is to invest a further EUR 10.5 million in the development of radiotherapy centers in Poland, thereby increasing its investment in this medical segment to EUR 25 million. The funds will primarily be used for the construction of a modern radiotherapy center for cancer patients in Tomaszów Mazowiecki. The facility is being built as a joint project with Tomaszów Health Center, a hospital owned by the local authority. The center will treat its first patients in the fourth quarter of 2014.

The remaining funds will be used to finance the operations of a state-of-the-art radiotherapy center that opened in January 2014 at the University Centre for Ophthalmology and Oncology (part of Independent Public Clinical Hospital No. 5 of the Silesian Medical University in Katowice). This center, which is equipped with three modern linear accelerators and a range of diagnostic equipment, treats patients despite not having a contract with the National Health Fund and therefore not receiving payment for these services. Enterprise Investors has nonetheless undertaken to finance the center’s activities this year.

At the same time, Enterprise Investors and Nu-Med Group (www.nu-med.pl), in which EI was a minority shareholder, merged their radiotherapy enterprises. The combined entity will operate under the name Nu-Med Group SA and will manage three radiotherapy centers – in Elbląg (formerly Nu-Med Center), Katowice and Tomaszów. Polish Enterprise Fund VII will hold 68% of shares, while the majority shareholders of Nu-Med Group will own the remaining 32%. Nu-Med Group will be led by Henryk Niewadzioł, founder and CEO of Nu-Med Group.

"Our investment decisions are rooted in our conviction that the Polish radiotherapy market requires considerable investment in order for this crucial form of cancer therapy to approach European standards," said Michał Kędzia, Vice President at Enterprise Investors responsible for the firm’s investment in radiotherapy centers. "We are also pleased that we can fully integrate our activities in the field of radiotherapy with Nu-Med Group, which runs the exemplary radiotherapy center in Elbląg," he added.

"We believe that the upcoming reform of cancer care in Poland will unlock funding for oncological treatment and will lead to money for treatment going to treatment centers located as close as possible to where the patients live, in line with international trends," said Henryk Niewadzioł, CEO of Nu-Med Group. He concluded: "The three centers we currently run in no way exhaust our ambitions and capacity."

Enterprise Investors is the oldest and one of the largest private equity and venture capital firms in Poland and in Central and Eastern Europe. Active since 1990, EI has raised eight funds with total capital exceeding €2 billion. These funds have invested €1.6 billion in 132 companies across a range of sectors and exited 104 companies with total gross proceeds of €2.1 billion.

For further information please contact:

Enterprise Investors:
Michał Kędzia, Vice President
Anna Czywczyńska, PR Consultant
tel.: +48 22 458 8500

Nu-Med Grupa SA
Henryk Niewadzioł, CEO
tel.: +48 55 235 8937