Medicover buys Capio´s Polish laboratory business

6/23/2003 11:00 AM EST

Medicover buys Capio's Polish laboratory business

Medicover has agreed to buy Capio's Polish laboratory business, Nova
Medical Polska Sp. z o.o. for a nominal amount. Medicover has operated a
succesful laboratory operation in Romania for many years and is now
extending this activity in Poland. ,,Nova Medical Polska will form a
good base to start our expansion activities in the Polish laboratory
diagnostic market" says Fredrik Ragmark, Managing Director of Medicover.
,,We expect over the coming few years to use the synergies with our main
medical services business and our expertise from our Romanian operation
to develop a succesful and profitable laboratory diagnostic service in
Poland"

Nova Medical Polska is established in Gdansk and Warsaw and has annual
revenues of approximately PLN 7 million, with 68 employees. Nova Medical
Polska is a strong private laboratory medicine company in Poland and is
the only accredited laboratory of its kind in the Polish market.
Operations include clinical chemical and micro-biological and clinical
trials tests undertaken on behalf of pharmaceuticals companies in Poland
and other parts of Central and Eastern Europe. It has been part of Capio
Diagnostics and owned by Capio since 1996.

Medicover is a private health care organization with a fixed level
subscription fee with the provision of medical services. It has the
responsibility to finance, provide or arrange all medical services
ensuring the subscriber with a comprehensive medical safety net.

In general terms, Medicover's model most closely resembles a government-
funded system, but with one major difference. In the government system,
a tax is collected and hospitals, clinics, diagnostic and other
healthcare services are provided for the taxpayers. The same applies to
a hybrid like Medicover, but the coverage in this case is voluntary and
discretionary. The "tax payer" becomes a client and therefore has a
choice, assuring a responsive, accessible system. In addition, the
system improves performance by offering immunizations, early detection
measures, screenings and patient education. It is much easier and less
expensive to look after a client and treat a disease when it is
diagnosed in an early form.

Medicover operates in Central and Eastern Europe, had a turnover in 2002
of Euro 35 million, and looks after the health care needs of over
100,000 people. Medicover is listed on the Stockholm Stock Exchange.

Luxembourg 23 June 2003
Medicover Holding SA

For further information please contact

Fredrik Ragmark - Managing Director Medicover 00 32 2 357 5577
Joe Ryan - Finance Director Medicover 00 32 2 357 5577