Insights Deal Monitor Sell your business →
CEE M&A Monitor
Healthcare · Rehabilitation Czechia Merger — cleared, final 9 Sep 2026

EUC buys 19 rehabilitation clinics from investment fund Potysz health

On 9 September 2026 the Czech competition authority ÚOHS announced it had cleared the merger of EUC a.s. and PHF Rehabilitace s.r.o., both active in rehabilitation services; the first-instance decision has already become final. Through its subsidiaries EUC operates a network of 17 polyclinics and clinics in Czechia with a broad range of outpatient services, including rehabilitation and physiotherapy. PHF Rehabilitace provides outpatient rehabilitation, physiotherapy and follow-up care at 19 clinics under the OK Rehabilitace brand in Prague, Brno, Bohumín, Český Těšín, Havířov, Hodonín, Orlová, Ostrava, Rokycany, Ústí nad Labem and Zlín; the company had belonged to the investment fund Potysz health. The authority focused on Prague, Ústí nad Labem, Brno and Zlín, where both companies operate, and concluded that the combined share would not exceed 10% in any of those local markets and that strong competition remains.

Our take This is a fund selling a built-up platform to a strategic operator — the exit that most buy-and-build stories are supposed to end in, and the one many never reach. Potysz health assembled 19 clinics under a single brand; EUC is buying reach it would have spent years accumulating one lease at a time. For owners of individual clinics the sequence is the lesson: the first buyer in a consolidating sector is often a fund that needs volume, and the second is the strategic buyer that needs the finished network. Selling to the first usually means a lower headline price but a live role in what comes next; waiting for the second means competing with a platform that has already tidied up the market. The regulator's finding that no local share exceeds 10% also says something useful — Czech outpatient rehabilitation is still fragmented, so the consolidation has room to run.
Share: LinkedIn Facebook X
← All deals

Thinking about your own exit?

If any of these deals looks like your business, get a confidential read on your options — valuation, buyer demand, and timing. Reviewed personally.

Start confidentially →