Care Vision Europe specializes in vision-correcting laser surgery.
Eye surgery clinic Care Vision Ltd. has sold its German and Dutch operations, Care Vision Europe, to Spanish eye surgery chain Clinica Baviera SA (IBEX: D9Z) for €22 million, including €7.5 million in cash. Clinica Baviera will also take over Care Vision's debt of €4.5 million and an earn-out payment of up to €10 million on the basis of the company's results over the next few years. Care Vision chairman and CEO Gur Munzer owns the company.
Bank Hapoalim (TASE: POLI; LSE:80OA) unit Poalim Capital Markets - Investment Bank Ltd. handled the deal.
Clinica Baviera has around 40 branches throughout Europe.
Published by Globes [online], Israel business news - www.globes-online.com - on June 24, 2008
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