SAT HEALTH’S new outpatient care arm, HAELAN, to acquire the medical business of Verum

SAT HEALTH’S new outpatient care arm, HAELAN, to acquire the medical business of Verum

SAT Health the leading Bulgarian healthcare data analytics group, acting through its medical arm Haelan Care (“Haelan”), is to acquire the medical business of Verum AD (“Verum”), a leading operator of outpatient healthcare centers. This transaction, made possible with the continued support of the private equity fund INVENIO Partners (“ is another stepping-stone for Haelan on its journey to becoming the largest provider of outpatient healthcare services in Bulgaria.

Verum operates medical centers in three regional centers in Bulgaria, including Sofia, where its two medical centers Polyclinics Bulgaria and 11st Pediatric Consulting Clinic have become synonymous with excellent outpatient healthcare delivery. The group employs a team of 300 people, including more than 200 doctors, and delivers approximately 250,000 patient visits annually. The group is also a digital healthcare leader, having invested heavily to create a proprietary comprehensive and mobile-native software solution that represents the backbone of the whole organization.
The transaction is expected to close during Q2 of 2024, pending confirmatory due diligence and a number of post-signing completion obligations. The parties have agreed to not disclose further financial information at this stage.

“We are thrilled about the upcoming acquisition of Verum, and excited at the opportunity to integrate the expertise of Verum into the Haelan family. This partnership illustrates well our commitment to contributing to the strengthening of the Bulgarian healthcare sector, ultimately serving the best interests of our patients. Our focus on delivering high-quality outpatient healthcare services remains unwavering. Together we will continue making a positive impact on the health and well-being of all of our said Alexander Alexiev, CEO of SAT Health.

Doctor Branimir Raduilov, founder and CEO of Verum, added “The integration of our medical centers into Haelan will represent an exciting chapter for our organization. We share a common vision for providing exceptional healthcare services and making a real difference in the lives of our patients. The entire team at Verum and I are enthusiastic about the possibilities that lie ahead.”

This will be the fourth acquisition, and the largest, by Haelan since the company received a €3,000,000 investment from INVENIO Partners in October 2022. Earlier this year Haelan completed the acquisition of Home Medic, a medical center that also offers at-home medical check-ups, while further acquiring Pia Mater, a provider of at-home care for the elderly, and Blocks Medical Center, a leading medical center located at Business Park Sofia, now all operating under the Haelan brand. The group aims to have 20 medical centers throughout Bulgaria by 2026, delivering high quality healthcare to patients via physical infrastructure, home visits, and through telemedicine, and supported by an industry-leading digital platform.

Slavcho Parushev, Partner at INVENIO Partners, said: SAT Health’s transformation from a pure data analytics company into a leading diversified provider of integrated healthcare services is what we as investors have been pushing for since day one. The acquisition of Verum will officially cement Haelan as the leader in the delivery of outpatient healthcare in Bulgaria. We continue supporting the group’s vision to provide comprehensive services that include not only nationwide physical presence in all
major cities, but also telemedicine and a wide array of at home and office medical care. INVENIO Partners is proud to support the growth and expansion of a company on a mission to provide the Bulgarian population with world-class health services.”.”

SAT Health was advised on legal matters by law firm Ilieva Voutcheva & Co., while KPMG Bulgaria provided financial and tax analysis.

About SAT Health
SAT Health is a dynamic and innovative company that offers products and services in the healthcare sector. Established in 2017, the company brings together people with proven expertise and long-term professional experience and aims to optimize processes in the healthcare sector through a wide range of expert analyses, innovative technological solutions, and partnerships. SAT’s newly established medical arm Haelan Care serves c. 50,000 patients visits annually across its medical and social care units with a team of over 80 doctors, nurses, and social assistants.

About INVENIO Partners
Invenio Partners manages a private equity and growth equity fund focused on investments in Southeast Europe. The fund has experience in promoting and helping companies realize their full potential and enhance their performance by providing growth capital, strategic guidance, and operating support to strong management teams. Invenio Partners discovers companies with a solid track record and potential for a leadership position in their respective industry with competitive business models and an experienced management team. The fund is supported by the European Investment Fund as its anchor investor, while also bringing onboard multiple reputable investors, among which two of the leading pension fund managers in Bulgaria.

About Verum AD
Verum provides healthcare with a strong emphasis on preventive care as a service. It operates under the brand of Polyclinics Bulgaria and 1st Pediatric Consulting Clinic, two of the most well-known medical centers in Sofia. The medical center brings together primary and specialized care for both children and adults, diagnostic imaging and laboratory services, an on-site pharmacy, as well as day care facilities, all under one roof. Verum has well-established medical centers in two other big cities – Pernik and Pleven.

The investment hereof is made possible, inter alia, through (i) financial backing of the European Union under the Equity Facility for Growth established under Regulation (EU) No 1287/2013 of the European Parliament and the Council establishing a Programme for the Competitiveness of Enterprises and small and medium enterprises (the COSME programme), (2014-2020); as well as (ii) the support of InvestBG equity instrument with the financial backing of the Government of Bulgaria (the InvestBG programme).