Haеlan enters into a strategic partnership with the medical business of Verum AD

Haеlan, the new medical business of SAT Health, announced a strategic move to expand with the medical business of Verum AD

19 December 2023

Sofia, Bulgaria

Hаelan Care Medical Company (“Hаelan”), part of the group of SAT Health, a Bulgarian health data analysis company, will invest in the medical business of Verum AD (“Verum”), a leading provider of pre-hospital medical services. This transaction, carried out with the support of the private equity fund Invenio Partners (“Invenio”), is another step towards the realization of the company's goal of being the largest provider of pre-hospital health services in Bulgaria.

Verum manages medical centers in three regional cities in Bulgaria, including Sofia, where its two medical centers Polyclinics Bulgaria and the 1st Children's Consultative Clinic are an example of providing excellent health care. Verum has a team of more than 300 people, of which more than 200 doctors, and serves about 250,000 patients a year. The group is also a leader in digital healthcare through its investment in the creation of a comprehensive healthcare software solution that is now the foundation of the entire organization.

The deal is expected to be completed in the second quarter of 2024, once the conditions for signing are met. The parties have agreed not to disclose additional financial information at this stage.

“We are excited about the upcoming investment in Verum. The partnership between us is the epitome of our commitment to supporting the Bulgarian healthcare sector and serving our patients. Our focus on providing high quality pre-hospital health services remains unwavering and we look forward to integrating Verum's expertise into the Heilan family. Together we will continue striving to have a positive impact on the health and well-being of all our patients,” said Alexander Aleksiev, founder of SAT Health.

Dr. Branimir Raduilov, founder and CEO of Verum, added: “The integration of our medical centers with Heylan is an exciting stage for our organization. We believe we share a shared vision of delivering exceptional healthcare and improving the lives of our patients. The entire Verum team and I look forward to the launch of our partnership with Haylan and look forward enthusiastically to the opportunities that lie ahead.”

This will be the fourth and largest deal by Haylan since the €3,000,000 investment by Invenio Partners in October 2022. Earlier this year, Haylan completed the acquisition of Dom Medic, a medical center that also offers medical check-ups at home, and additionally acquired Pia Mater, a company providing home care for the elderly, and Medical Center Blocks, a leading medical center located in Business Park Sofia, with all three companies already operating under the Haylan brand. The group aims to own 20 medical centers throughout Bulgaria by 2026 and provide healthcare to its patients through medical centers, home visits and telemedicine, all united in an industry-leading digital platform.

Slavcho Parushev, Partner at Invenio Partners, said: “We as investors have been fighting from day one for the transformation of SAT Health from a data analytics company into a leading provider of integrated healthcare. The investment in Verum will officially establish Heylan as a leader in the provision of pre-hospital health care in Bulgaria. We continue to strongly support the group's vision of providing comprehensive services, including not only a national presence in all major cities, but also telemedicine, as well as a variety of health services in the home and office. We at Invenio Partners are proud to support the growth and expansion of a company whose goal is to provide world-class healthcare services to the Bulgarian population.”

Consultants in the transaction are the law firm Ilieva Vucheva & Co., and KPMG Bulgaria.

About SAT Health

SAT Health is a dynamic and innovative company offering products and services in the healthcare sector. Established in 2017, the company brings together people with proven and long-standing professional experience, and aims to optimize healthcare processes through a variety of expert analyses, innovative technology solutions and partnerships. SAT's newly founded medical business, Haylan Care, serves about 50,000 patients a year through its medical centers, social care with a team of over 80 doctors, nurses and social assistants.

More information can be found at www.sathealth.comand www.haelan.bg.

About Invenio Partners

Invenio Partners manages a private equity fund focused on investments in Southeast Europe. The fund has experience in encouraging and helping companies realize their full potential by providing growth capital, strategic leadership and operational support to strong management teams. Invenio Partners is looking for companies with a stable reputation and potential for a leadership position in the respective industry, which have well-developed business models and an experienced management team. The fund is supported by the European Investment Fund as the main investor, and at the same time attracts many respected investors, including two of the leading pension funds in Bulgaria.

www.invenio.partners

About Verum AD

Verum provides health care with a strong emphasis on preventive care as a service. The group operates under the brands Polyclinic Bulgaria and 1st Children's Consultative Clinic, two of the most famous medical centers in Sofia. Verum brings together under one roof general and specialized care for children and adults, diagnostic tests and laboratory services, an on-site pharmacy, as well as a day hospital. The group has well-established medical centers in other major cities - Pernik and Pleven.