Denal buys 51% of the surrogacy and medical tourism group from...

Denal buys 51% of the surrogacy and medical tourism group from...
Denal buys 51% of the surrogacy and medical tourism group from...
The Danel Nursing and Medical Services Group acquires 51% of the Manor Medical Group, which specializes in surrogacy services, egg donation and medical tourism. The owners of Manor Medical, Liora Manor and Ami Manor, will receive NIS 40.2 million for their shares and will remain partners in the company.

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The consideration in the transaction is not final and is conditional on Manor’s results in 2021 and 2022. After the adjustments, the value of the company, which according to the current consideration is NIS 80 million, may range from NIS 65 million to NIS 140 million.

Ilan Israeli, CEO of the Danel Group Photography: Moment Photography Productions

Manor Medical deals with three main areas of activity. As part of the surrogacy field, it provides accompaniment of Israeli doctors to couples seeking to perform a surrogacy procedure abroad. In the field of egg donation, it provides egg donation services, and a medical procedure accompanied by an Israeli team of doctors in Ukraine. The company has agreements with leading hospitals in Israel, as well as agreements with most of the major insurance companies in Russia.

In 2019, Denal, a company without a controlling interest and managed by Ilan Israeli, acquired Dr. Levinger Medical Centers for about NIS 74 million. Denal is traded at a market value of NIS 2.3 billion and operates through five subsidiaries. The company was founded in 1974. And was issued in 1992. It operates 34 branches in the field of nursing and 24 branches in the human resources.

The Danel Group was represented in the transaction by attorneys Miki Barnea, Ilan Blumenfeld and Moshe Minster from the Barnea firm, Jafa Landa. Manor Medical was represented by investment banker Eyal Schwartz of Schwartz Investment House and attorneys Ran Hai and Assaf Nahum of Herzog Fox Ne’eman.

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