Medicover has decided to exit the Hungarian market and disposes of its insurance operations in Hungary. Since 2013, Medicover has only operated its health insurance business in Hungary having no clinics or health provision activities. Medicover will also terminate its brand licensing used with Hungarian partner clinics providing services to members.
The health insurance business will be transferred to another Hungarian health insurer and a transfer process has already been initiated in collaboration with the relevant authorities. The transition is expected to take approximately six months and is anticipated to be completed by mid-2025.
The disposed business is low margin with revenues of approximately €50 million in 2024. The disposal of the business will not have any material impact on net profits.
Medicover currently has approximately 290,000 Hungarian insurance members and employs approximately 40 staff members in Hungary, all of whom will be included in the transfer to the new insurance carrier.
For further information, please contact:
Hanna Bjellquist, Head of Investor Relations
+46 703 033 272
hanna.bjellquist@medicover.com
Medicover is a leading international healthcare and diagnostic services company and was founded in 1995. Medicover operates a large number of ambulatory clinics, hospitals, specialty-care facilities, laboratories and blood-drawing points and the largest markets are Poland, Germany, Romania and India. In 2023, Medicover had revenue of €1,746 million and more than 45,000 employees. For more information, go to www.medicover.com
