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The EBRD has sold its equity stake in the private Hungarian health management company Hospinvest to existing shareholders of the company.
The EBRD invested €4 million in Hospinvest in 2007 to support the company in its plans to bid for the management of public hospitals and hospital pharmacies in the country.
At that time Hungary started implementing a comprehensive reform of its health care sector, particularly restructuring public hospital capacity and management as well as providing a greater role for the private sector in healthcare. The reform measures, however, were rejected in a referendum in March 2008.
This decision had serious consequences for the ability of Hospinvest to expand its business. The company reacted to the changed circumstances with a restructuring this year that was aimed at consolidating its existing operations. The EBRD’s sale follows this change in the company strategy.