Oresa to exit all but one investment

The investment firm wants to focus all resources on Medicover, its largest holding.

The management of Oresa Ventures, an investment company traded on the O-List of the OM Stockholm Exchange, has decided to concentrate on a single investment and turn itself into an operating healthcare business.

Oresa will assume the name of the investment in question, Medicover, and offer a range of healthcare services through a network of clinics, specialist centres and hospitals in Poland, Romania, Hungary and Estonia.

Oresa’s remaining investment portfolio will be managed by an independent company which will be run by the same individuals currently responsible for the investments in questions. “The company expects significant value to be realised from these investment in the coming years”, Oresa said in a statement. There are no plans to make new investments.

The firm said that based on preliminary numbers, Medicover’s earnings increased by 77 per cent in 2000. The company is currently Poland’s leading corporate healthcare provider.

No changes will be made in the legal structure of the Oresa. Fredrik Rågmark will continue to serve as managing director, and Jonas af Jochnick as chairman. Joe Ryan remains as financial director and Paul Lenz, currently responsible for the operations of Medicover N.V., will hold the position of business development and medical director.