Medicap Holding, based in Tartu, consisting of the Quattromed medical laboratories in Estonia and Finland, and Sorpo of Lithuania, has been snapped up by German laboratory group Synlab for a reported 10 million euros.
The sellers were investment company BaltCap and a number of individual shareholders, who, according to Äripäev, received a total of ten million euros.
“The transaction is a testament to what Medicap companies have achieved so far,” Rainar Aamisepp, CEO of Medicap said in a BaltCap press release on Wednesday, adding that sale will able the company to further expand in the Baltics and Scandinavia.
Medicap has more than 200 employees in total, 150 in Estonia, with a turnover of 8.8 million euros last year. It earned a profit of 518,000 euros.