Magellan has been part of the Italian banking group Banca FARMAFACTORING – Market Health

As a result of the successful tender offer for shares of Magellan SA, announced by Banca FARMAFACTORING (BFF), the company was part of the Italian banking group BFF. Both companies are counting on the synergies and further, strong growth in the hospital market and local government.

At the beginning of January, the Italian investor announced a tender offer to subscribe for all shares of Magellan. Finally, in early June, he concentrated more than 97 percent. action.

– Trade with the new banking group in the Polish market – Banca FARMAFACTORING (BFF) – is a consequence of the choice of strategic option for the Magellan and I’m proud that we could have such a transaction to realize – said the President of Magellan SA Krzysztof Kawalec during conference in PAP. In his opinion before Magellan opens up new, but “also a very interesting and dynamic chapter.”

– The company reminds our Magellan – said Massimiliano Belingheri, CEO of Banca FARMAFACTORING. During the presentation he argued that as a result of cooperation between the two companies scale of the synergy can be very beneficial economically and organizationally. Synergies in the structure and the availability of financing, including lowering the cost of financing through the use of liquidity and banking license BFF will increase the scale of the business.

Similar areas and the effects of the two companies will instead align the product offer and better coordinated expansion in new foreign markets.
Massimiliano Belingheri pointed out that the two companies were built by small teams of employees, and then successfully develop active on domestic and foreign markets, gaining a leading position in attractive niche market.

The CEO of Banca is FARMAFACTORING convinced that “the Polish economic development and increasing investment in the public sector will provide a positive backdrop for investment in Magellan.” Christopher Kawalec expressed the hope that partners with Banca FARMAFACTORING will support the development of the company as the former owners.

– We believe that allow Magellan to grow faster and work better. We will board and the whole team actively support – said Belingheri.
Magellan will be responsible for business development of the Group BFF in Central and Eastern Europe.

The Magellan Group provides customized financial services that enable optimal and efficient financial management of entities operating in the medical market and the local government units . For more than 18 years of activity it has provided 9.1 billion zł funding. Actively cooperates with more than 500 players in the medical market.

Group BFF is an independent Italian bank specializing in the area of ​​receivables management and factoring receivables on the market of medical care and the local government sector in Southern Europe (Italy, Spain, Portugal) . In 2015, the Group BFF managed receivables with a total value of 6.286 million and profit before tax of € 96.3 million. BFF Bank was founded in 1985 in Milan, and now has offices in Rome, Madrid and Barcelona.