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Pharmacy Chain 36.6 buys medical center
Pharmacy Chain 36.6 said it had acquired the Moscow-based European Medical Center. According to the chain's press office, the Center works in four areas, medicine, surgery, dentistry and laboratory studies.
It permanently employs over 50 doctors. EMC provides medical services to legal entities and individuals, embassy officials and employees of large Russian and international companies. In 2006, EMC sales are expected to reach $20bn, while the EBITDA margin is likely to be around 20 percent.
Pharmacy Chain 36.6 did not disclose financial details of the transaction. According to its Director Artyom Bektemirov, the company proposes to set up a few more clinics in Moscow using the chain's retail technology, brand and EMC expertise. The acquisition is part of the retail diversification strategy pursued by the company.