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MCI.BioVentures announces its first investment exit

23.12.2011 Download PDF

On 21 December 2011, MCI.BioVentures investing in biotechnology, new medications, dietary and therapy supplements, medical supplies and equipment and healthcare services, executed its first investment exit, selling all owned shares of MedCasco. The majority of MedCasco shares owned by MCI.BioVentures were acquired by an industry investor – Dent-a-Medical S.A., a company listed on NewConnect.

„We have accomplished the investment objectives by reaching the internal rate of return (IRR) of over 50%. Last year, we invested in a start-up and helped to increase the company’s value, so teaming up with a sector investor seemed the best solution for its further development. During this period, MedCasco developed cooperation with Insurance Companies offering health insurance policies. Since June 2011, Med Casco has worked with Dent-a-Medical Company in handling dental services in medical packages. Dent-a-Medical, as the buyer, will benefit from the synergy of the two business operations strengthening further development of Med Casco.” – said Grzegorz Gromada, MCI.BioVentures.

MED CASCO operates as TPA (Third Party Administrator), drawing up and implementing innovative health insurance sold through Insurance Companies and then handles complete delivery of the services. The company operates within a market niche with only four other major competitors (IPA, Coris, Mondial, Pol-Assistance). The sales strategy of MED CASCO involves drawing up, implementing and launching affinity sales projects through the sales networks of its corporate Partners in large volumes (bank, leasing company, car dealer, insurance company, tour operator) consisting in adding MED CASCO services to the basic package of the given Partner. MED CASCO develops products, among others, for InterRisk T.U. Vienna Insurance Group S.A. or T.U. Europa S.A.

By executing this transaction, MCI.BioVentures has entered the phase of exiting its current investments that will enable to raise returns and favor investors.

Part of payment for the shares of MedCasco will be made in cash and partly in the form of Dent-a-Medical shares. This form of payment gives MCI.BioVentures the possibility to indirectly participate in the further increase of MedCasco value, which should also influence the share price of Dent-a-Medical on NewConnect

23.12.2011 Download PDF