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• The Competition Council has approved Agista's acquisition of a minority stake of over 30% in the shares of the Centrokinetic medical network.

• The investment plan for the network includes expanding to over 10 clinics nationwide within the next 4 years

• Centrokinetic is one of the most highly regarded orthopedic and medical rehabilitation clinics in Bucharest

Bucharest, October 5, 2023 – Growth equity investment fund Agista, part of the Impetum Group, has completed the acquisition of a minority stake of over 30% in the Centrokinetic medical network. The transaction was recently approved by the Romanian Competition Council. 

"The completion of the transaction marks the first step toward what is already shaping up to be a successful partnership in the medical industry. Centrokinetic is the right fit for us at Agista; the industry is specific with tremendous growth potential, and its founder, Dr. Bogdan Andrei, shares a similar vision. He especially aims to take his business to the next level. Agista's team has demonstrated their expertise in navigating this stage, showing their readiness to identify the most suitable market opportunities in building a robust portfolio", said Nick Kovacs, CEO of Agista.

The Centrokinetic medical network specializes in orthopedics, neurology and medical rehabilitation, currently operating 3 clinics, all in Bucharest. However, the Centrokinetic team is preparing for the launch of 2 additional clinics by the end of the year, marking the expansion of the Centrokinetic network beyond the capital city.

"Agista's investment in Centrokinetic meets the criteria that a growth fund like Agista seeks. It's a leading company in a fragmented market, providing top-quality services with healthy financial results and a management team eager to grow. As part of this transaction, Agista's objectives include consolidating the medical network nationally, aiming to expand to over 10 locations nationwide in the next 4 years. We also aim to identify personalized solutions for the network development, business networking and group synergies", said Dragoș Dărăbuț, Senior Investment Manager at Agista, who specializes in the medical sector investments.

"We took this step with great enthusiasm and high hopes because we saw in Agista a lot of determination, extensive know-how and significant development opportunities for us. At our core, we are doctors – and we love to help as many people as possible receive the right treatments for their conditions. On one hand, the partnership with Agista helps us further focus on what we do best – assisting patients in need of specialized medical recovery. On the other hand, we will now do this with the conviction that we have a strong team behind us, helping us grow as a business, seize growth opportunities as they arise and make the best decisions for the future of Centrokinetic", said Bogdan Andrei, Medical Director and Founder of Centrokinetic.

Established in 2016 by orthopedic doctor Andrei Bogdan, the Centrokinetic network of medical clinics surpassed a turnover of 4.5 million euros last year, with an EBITDA of 600,000 euros.

Agista's investment in Centrokinetic comes at a crucial moment in the network's development, offering a wide range of medical recovery services for adults and children. Centrokinetic boasts a team of over 110 specialized doctors and therapists focusing on orthopedic and neurological conditions.

AGISTA joins Centrokinetic as a strategic development partner, bringing substantial expertise in scaling businesses. With the ability to provide concrete solutions for streamlining internal processes and unlocking growth opportunities, AGISTA stands as a valuable asset in this partnership.

The Agista – Centrokinetic transaction couldn't have materialized without the support of Agista's partners – the M&A team at Filip & Company law firm, led by Alexandru Bîrsan, and the audit, accounting, tax and business consultancy firm Mazars, led by Adrian Mihalcea – as well as Centrokinetic's partners – the Romanian law firm RTPR, led by Alina Stăvaru and the advisory firm Clairfield International, led by Florin Bolchiș, managing partner for the Romanian office.

Agista, a growth equity investment fund currently undergoing authorization by the Financial Supervisory Authority, is a brand launched by Impetum Group. Agista supports Romanian SMEs whose products and services are or become essential to society, offering capital and expertise. As a minority shareholder, Agista invests 2 to 5 million euros, acting as an anchor investor with a strategic role, represented in the companies' boards. This partnership fosters rapid and healthy development, providing customized solutions, guidance and networking, positioning companies for regional excellence.

Agista invests across various sectors, focusing primarily on IT&C, healthcare, recycling, and agritech industries. Since its launch, Agista has invested in companies such as Eplus Smart Energy, Dendrio Solutions, GRX (recently rebranded as FORT), Top Tech and Bittnet Group.

Centrokinetic is a network of integrative orthopedics and medical recovery clinics dedicated to osteo-articular conditions, with full diagnostic and treatment capabilities, from medical consultation, open MRI specialized on the locomotor apparatus, ultra-modern physiotherapy rooms and the latest generation equipment for physiotherapy procedures. The team of Centrokinetic physiotherapists brings together more than 110 professionals trained to lead the recovery programs developed by the clinic's doctors in a personalized way, for each patient of the clinic. Further details about the clinic can be accessed at www.centrokinetic.ro.