Penta to become sole owner of health insurer Dôvera

The investment group Penta will become the sole owner of Slovakia's second largest health insurer Dôvera which covers about 28% of the market, the company announced on Monday. Penta, via its daughter firm HICEE, apparently plans to buy the rest of the 50 percent stake in the insurer from Cypriot company Prefto Holding Limited. In recent months this company has been under criticism from both Slovak media and a number of MPs for its non-transparent ownership structure and alleged links to a businessman close to the ruling party Smer. "This move to become sole owner is a clear sign of Penta's trust in the health-care sector, and is also evidence of its determination to be active and invest in this sector in the long term", said Dôvera's PR specialist Matej Štepianský. The transaction has to be approved by the Antimonopoly Office and the Healthcare Supervisory Office. Slovakia has three health insurance companies managing the mandatory contributions paid by all residents in this country. The largest one is state owned and has a market share of 63% while the other two have private owners.