Penta looks to incorporate health insurance companies Dôvera a Apollo

The investment group Penta has successfully concluded negotiations with the majority shareholder of the health insurance company APOLLO zdravotná poisťovňa, a.s. (Apollo).

The goal of these negotiations was to gain a majority shareholding in Apollo in which Penta was a 49 per cent shareholder. Penta's ultimate goal as an owner of the health insurance company DÔVERA was to incorporate both companies by the end of 2009, and therefore create a strong counterbalance to services provided by Všeobecná zdravotná poisťovňa, a.s. Negotiations are under the condition to transfer shares and the financial settlement that is to take effect on Monday, 17th August.

"We are sure that this incorporation will bring new services of a higher quality to insured people. Dôvera and Apollo will unite under one insurance company, with 1.5 million clients, which will save an inconsiderable amount of money on transition expenses and will work more effectively," Jaroslav Haščák, partner of Penta investment group said.

The incorporation itself has to first gain the approval of the antitrust office of the Slovak Republic and the Health Care Surveillance Authority.

"We believe in gaining all the necessary approvals because there are two state health insurance companies being incorporated, so the concentration on the market will be much higher," concluded Jaroslav Haščák.

About Penta

Penta is a Central European investment group established in 1994. It operates mainly in healthcare, financial services, manufacturing, retail, media and real estate development. Its portfolio companies provide jobs to more than 41,000 people and reported assets of EUR 9 billion in 2017. Penta operates in more than 10 European countries and has offices in Prague, Bratislava and Warsaw.

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