Medicover: Improving lives from Warsaw to Mumbai - ABG
Healthcare services in Central and Eastern Europe and India 19% sales CAGR and 21% adj. EBITDAaL CAGR during '18-'26e Fair value range SEK 180-260 per share
ANNONS
Strong track record with a 20% sales CAGR between '06-'23
Medicover is an international provider of healthcare and diagnostic services, primarily in developing countries. The business is divided into two segments: Healthcare Services, 68% of sales in '23, and Diagnostic Services, with 32% of sales. Key markets include Poland (48% of sales), Germany (18%), Romania (12%) and India (11%). Benefiting from strong underlying growth, an established business model and selective M&A, Medicover has achieved a sales CAGR of 20% for '06-'23 and an EBITDA CAGR of 19% for '15-'23.
