“The deal was sealed,” Borza told news agency MEDIAFAX.
Early June 2014, the owner of Polisano group, Ilie Vonica, committed suicide two weeks after his wife had been arrested, alongside other people, on charges of illegally receiving money from the national health insurance house over bogus cancer-drug prescriptions.
Vonica, a doctor who specialized as a gynecologist, began his healthcare business with his wife in 1993 after the anti-communist revolution, when private health care took off.
The Polisano group, founded in 1993, also includes medical centers, in vitro fertilization clinics, a private hospital in Sibiu, the Reteta pharmacy chain, drugmaker Polipharma Sibiu, a Toyota dealership, a Citröen auto repair shop, a travel agency, sports and leisure projects, constructions and real estate.
In 2011, Vonica sold the chain of dialysis centers to Diaverum group controlled by private equity investor Bridgepoint, in a deal estimated at around EUR25 million.
Polisano group, which employs some 2,000 people, registered total revenues of over EUR300 million in 2012.
Borza is the owner of the company Euro Insol, which was appointed judicial administrator of Romania’s insolvent power producer Hidroelectrica. The power company was placed under insolvency for the second time in late February 2014, after the Bucharest Appellate Court cancelled a previous court decision allowing the Hidroelectrica to complete a 12-month reorganization process started in June 2012. Following the decision, Euro Insol was reinstated as Hidroelectrica’s judicial administrator.