Medical express

History

2023: Union Apart buys out Medexpress

The German insurance group Allianz sold its St. Petersburg subsidiary Medexpress. It was bought by Union Apart LLC. On the deal in early November 2023, the president of the CAO "Medexpress" Alexander Ivanov. At the same time, he did not become the financial terms of the contract.

The perimeter of the transaction also included two medical clinics "My Clinic," one of which is located in St. Petersburg, the other in Kingisepp, Leningrad Region. The buyer promises to maintain the specialization of Medexpress in VHI (voluntary medical insurance). Ekaterina Serova, director of ratings for insurance and investment companies of the Expert RA agency, notes that Medexpress specializes in VHI and has extensive experience and competencies in this segment.

Allianz sold its St. Petersburg subsidiary Medexpress

According to Ivanov, the conclusion of the transaction became possible in connection with the departure of Allianz from the Russian market. It took almost a year to agree on the details of the government commission to control the implementation of foreign investments in the Russian Federation. The asset was transferred to Union Apart LLC in the fall of 2023.

In the coming year, we will focus on the development of new products of preventive medicine aimed at early detection and control of diseases, prevention and early diagnosis, as well as the creation of individual insurance programs for top management, "Ivanov said in a conversation with RBC Petersburg.

According to Artem Tuzov, director of the Corporate Finance Department of IVA Partners, taking into account the fact that the insurance business was sold together with the My Clinic medical centers, the deal, even taking into account discounts at 50% of the market price, which are required to be non-residents when selling business in Russia, could amount to 1.5-2.5 billion rubles. The expert notes that the main margin of such a business is achieved through synergy with its own network of clinics.^[1]

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