PZU insurer buys healthcare assets of PKN Orlen
May 15, 2014
Poland's top insurer PZU bought two chains of outpatient clinics Orlen Medica and Prof-Med from fuel group PKN Orlen, for a total of PLN 47.8 million, the two firms said in back-to-back press releases.
"The transaction is an element of Orlen's strategy to focus on core activity and allot the capital for the concern's development in more promising areas," Orlen said in its statement.
"The process of the concern's asset revision is being continued and further disinvestments allowing further optimization of Orlen's structure are not ruled out," the company said.
Despite a relatively small scale of the transaction, the investment is crucial to the insurer, which intends to invest in the medical sector. Orlen Medica in Plock generates some PLN 25 million revenues, while Prof-Med generates PLN 5 million.