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RTPR Allen & Overy advises REGINA MARIA on completing the acquisition of Ponderas

Date: 06/09/2016
RTPR Allen & Overy has advised the private healthcare services provider REGINA MARIA on the acquisition of Ponderas Hospital, the only Center of Excellence in Bariatric and Metabolic Surgery with a double accreditation from Eastern Europe – European and American. The transaction was closed in less than two months from the signing of the sale purchase agreement.

“PONDERAS started as a very ambitious project that we followed and valued from the very beginning. We noticed our mutual values, the permanent concern for the quality of the medical act, the care for the patient, the performance of the medical teams. For us, PONDERAS becomes the biggest hospital of the network which will allow us to build even more on the quality and medical excellence. We have been assisted throughout this transaction by the RTPR Allen & Overy team, whose professional advice we trusted during the last few years. It is refreshing to have by your side lawyers who know and understand your needs in the context of a project. I would like to thank them for the involvement they showed once again, helping us successfully close a key deal for us”, said Fady Chreih, CEO of REGINA MARIA healthcare network.

The RTPR Allen & Overy team that advised REGINA MARIA healthcare network included Costin Taracila (Managing Partner), Roxana Ionescu (Senior Associate) and Andrei Mihul (Associate).

Roxana Ionescu declared: “The closing of the deal in such a short period after the signing is due to the continuous effort of the parties to fulfil the conditions precedent, but also to the professionalism of the Competition Council who issued the authorisation decision after analysing the economic concentration in only one month after the notification was submitted. This confirms the positive trend declared by the authority to shorten the term for analysing concentrations. We would like to thank once again Regina Maria and Mid Europa Partners for putting their trust in us throughout this extremely important transaction.”

RTPR Allen & Overy continues to advise Regina Maria on its day-to-day activity, as well as on its acquisition projects. RTPR Allen & Overy assisted Advent International on the acquisition of Centrul Medical Unirea in 2010, followed by the acquisition of Euroclinic Hospitals and of the stem cells bank Stem Health. In August 2015, RTPR Allen & Overy advised Advent International on the sale of Regina Maria group to the current shareholder Mid Europa Partners.

At European level Allen & Overy won “Europe Law Firm of the Year” award granted by Chambers & Partners, and Dealogic M&A Analytics ranked Allen & Overy as the top legal adviser for European private equity buyouts in 2015 by both by deal value and deal volume.

Selected transactions in the healthcare sector in which RTPR Allen & Overy have been involved are set out below:
• REGINA MARIA healthcare network on the lease of a space for a new private hospital in Cluj-Napoca.
• REGINA MARIA healthcare network on the lease of an approximately 1,500 sqm surface within the Charles de Gaulle Plaza building.
• Advent International Corporation on the sale of Centrul Medical Unirea (the healthcare services provider “Regina Maria”) to Mid Europa Partners.
• a syndicate of banks made up of Banca Comercială Română, as coordinator, BRD-Groupe Société Générale, ING Bank N.V Amsterdam – Bucharest Branch, and Raiffeisen Bank on a credit facility in amount of up to EUR56m granted to Med Life and other group entities.
• ING Bank N.V. on certain amendments to the security package related to a EUR325m facilities agreement granted to Euromedic Intermediate Group B.V.
• Advent International on the acquisition of Stem Health.
• A&D Pharma Holdings N.V. and Sensiblu with respect to their sale of shares in Anima Medical Services.

Note to the editors:
1. Allen & Overy is an international legal practice with approximately 5,200 staff, including some 530 partners, working in 44 major cities worldwide.
2. RTPR was incorporated in 2004 and has been working in association with Allen & Overy since 2008. RTPR Allen & Overy has a team of 41 lawyers, including 5 partners: Costin Tărăcilă, Victor Pădurari, Alexandru Retevoescu, Mihai Ristici, Valentin Berea and also Prof Dr Lucian Mihai, Of counsel.
3. In this press release, “Allen & Overy” means Allen & Overy LLP and/or its affiliated undertakings.
4. In this press release, “RTPR Allen & Overy” means Radu Tărăcilă Pădurari Retevoescu SCA in association with Allen & Overy LLP.
5. Allen & Overy has been operating in the CEE region since 1991, when its first office opened in Warsaw. Since then, it has expanded its operations to include Prague, Budapest, Bucharest, Bratislava and Moscow, all of which are renowned in the market for top quality legal advice combined with local commercial understanding, as well as for their integrity and their pro-active approach to matters. Additionally, Allen & Overy signed an exclusive association with the leading full-service Romanian law firm Radu Tărăcilă Pădurari Retevoescu SCA (RTPR), effective from July 2008, expanding the number of CEE offices in which we are able to provide local law advice to six.

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