PineBridge Investments has acquired a 50 per cent stake in Promedica24 from its three founders.
Promedica24 is a provider of household services and care for the elderly, medical recruitment, and rehabilitation services in Poland and Germany.
The company is headquartered in Poland and has approximately 2,000 employees.
“We are delighted to announce our investment in Promedica24. The strong market drivers and growth potential present an excellent opportunity for the company to continue its fast growth and further strengthen its position in the market. With PineBridge’s industry experience, financial resources and our focus on creating long-term value, we look forward to working closely with Promedica24 to continue its rapid growth and further strengthen its position in a fragmented market,” says Artur Haze, director of PineBridge Investments (Central Europe).
Rafal Rzezniczak, chief executive of Promedica24, says: “The ongoing commitment of existing shareholders, coupled with the new investment by a leading private equity investor, underlines Promedica24’s commitment to quality service and our future prospects. The combined strengths of Promedica24 and PineBridge Investments will allow the company to implement innovative solutions in terms of quality and accessibility of its services as well as facilitate the development of pioneering solutions for the provision of cross-border services.”
PineBridge Investments was advised by Baker & McKenzie and Ernst & Young in this transaction. Promedica24 was advised by Weil, Gotshal & Manges and CAG.
