Private healthcare is one of the fastest-growing service markets in Ukraine, and clinics change hands, attract investors and raise financing accordingly. Valuing a medical business is more nuanced than most industries: alongside real estate and equipment, a large share of value sits in intangibles — licences, treatment methodologies, reputation, the patient base and contracts with recognised doctors.
When a clinic valuation is needed
Acquisition or disposal; investment and partner entry or exit; bank financing; lease structuring; insurance; business planning; management decisions; litigation.
What drives the value of a medical center
Tangible assets — premises, medical equipment, vehicles, land; intangible assets — trademarks, software, patents, medical technologies and know-how, unique treatment methodologies, and employment contracts with highly qualified medical staff; and the financial position — cash flows, cost structure, profitability and the absence of overdue mandatory payments.
Valuation methodology
For an operating clinic the income approach is the baseline — discounted cash flow, since the capacity of the medical practice to generate income defines the value. The asset-based approach applies through net asset accumulation, with equipment, real estate and intangibles restated to market value. The market approach is used where comparable clinic sale transactions exist.
Information required
Financial statements for the previous 3–5 years, the fixed asset register, branch data, the medical practice licence, the service structure and price list, income and expense breakdowns, an overview of key competitors, and the business plan where available.
Track record
The Kanzas company has valued 20 medical centers for a range of purposes — from sale transactions to financing — and has performed asset revaluations for 30 more healthcare facilities. Signature work includes full-scope pre-sale preparation of a Ukrainian medical center, including due diligence: from asset inventory and financial model analysis to the valuation of the clinic's intangibles. Our team includes appraisers holding international valuation certificates.
Questions and answers
Can a clinic operating from leased premises be valued? Yes — value derives from the cash flows of the medical practice, equipment, licences and intangibles; the lease is factored in as an operating condition.
How are reputation and the patient base valued? As intangible assets within the business: their contribution shows in the stability of patient flow and pricing power, captured in the income approach.
Write to us by email or messenger to discuss your clinic — we will respond with a scope and fee proposal the same business day.
