Mihai Sfintescu: Entrepreneurs have begun to understand they need a financial investor

“The first three quarters of 2008 were very difficult, as expectations of entrepreneurs had surged, and the market was blocked. Now, many have begun reducing prices, and entrepreneurs now realize they need a financial investor,” Mihai Sfintescu, the fund’s Investment Manager, told Business Standard.

The fund owns some 49 percent of CMU, in which it invested €12 million. A further €8 mln will be invested in 2009, according to Sergiu Negut, CMU’s Chief Executive Officer. CMU yesterday inaugurated the first hospital dedicated entirely to women, a private maternity located in Baneasa, the Queen Marie Obstetrics and Gynecology Hospital, in which the company invested €5.5 mln. The healthcare provider expects to reach the breakeven point for this investment in four years.