Client:
Mid Europa Partners
Our role:
We delivered financial, tax, HR and IT vendor due diligence services for Mid Europa Partners. We also assessed the business impact of Regina Maria’s digital transformation efforts.
Country:
Romania
Setting the scene
Mid Europa Partners, a leading private equity investor in Central and Eastern Europe, sought to divest its healthcare assets in the region, including Regina Maria in Romania and MediGroup in Serbia. Regina Maria had become one of the most prominent private healthcare providers in Romania after a decade of strategic growth and digital transformation under Mid Europa’s ownership.
The transaction aimed to find a strategic partner able to continue Regina Maria’s development. Mehiläinen Group, an organisation with a 115-year legacy, emerged as the ideal buyer. The deal was the most significant healthcare M&A transactions in Romania and the region in recent years. It highlighted the sector’s resilience and attractiveness to investors.
We were engaged early in the process to provide vendor due diligence services and navigate the complexities of a cross-border transaction involving multiple jurisdictions.
"This transaction was a landmark moment for the healthcare sector in Romania and the region. It was a privilege to support Mid Europa Partners once again and contribute to the continued evolution of Regina Maria under a new strategic partner."
Cornelia Bumbăcea, Partner, Deals, PwC RomaniaHow we helped
Our multidisciplinary team delivered a full suite of vendor due diligence services for both Regina Maria and MediGroup. Our work included:
- Financial due diligence to enable transparency and accuracy of financial data.
- Tax due diligence to identify and mitigate potential risks.
- HR and IT due diligence to assess operational readiness and integration potential.
- Evaluation of the digital transformation efforts of Regina Maria and their impact on business performance.
One of the key challenges was coordinating due diligence across Romania and Serbia while meeting the buyer’s expectations. Our team leveraged our network, deep local expertise and seamless collaboration across service lines.
Our previous work with Regina Maria during its acquisition by Mid Europa in 2015 helped us on this project. This historical knowledge, our sector experience and agile approach provided insights for a smooth transaction process.
“In an uncertain economic context, the healthcare sector remains a priority for investors due to its growth potential. Through a constant development and expansion strategy, Regina Maria has become one of the most important healthcare providers in Romania.”
Ruxandra Târlescu, TLP Leader, PwC RomaniaImpact and potential
Our involvement helped Mid Europa Partners successfully complete one of the largest healthcare deals in Romania. It also reinforced investor confidence in the sector. After the acquisition by Mehiläinen Group, Regina Maria is expected to grow and innovate faster and bring benefits for patients and the broader healthcare ecosystem.
The project also demonstrated the value of integrated due diligence services in complex, cross-border deals. It reaffirmed our role as a trusted advisor in strategic healthcare transactions and highlighted the strength of our multidisciplinary teams.
"The partnership between Regina Maria and a brand with a 115-year tradition has already contributed to the growth of the M&A market and is certain to further accelerate the development of the healthcare services sector in Romania."
Dinu Bumbacea, Partner, Advisory Leader, PwC RomaniaContact us
