Medicover: Exposure to growing private healthcare markets
We initiate coverage on Medicover. Medicover has over twenty years of history of providing healthcare and diagnostic services to patients in Central and Eastern Europe (CEE) and has built a leading position in several of these fast-growing private healthcare markets. Despite a strong performance for the share in 2019, we believe the Medicover growth story still is underestimated by the market, and that the stock is currently trading at a discount to its peers.