Exit for Dr. Eve Biton: Maof Group acquires 50% of Sharan at a valuation of 110 million shekels
Maof Group is acquiring a 50% stake in home medical services provider Sharan at a valuation of 110 million shekels. This deal marks Maof's entry into the healthcare market.
A major deal in the medical services sector. Calcalist has learned that the Maof Group is acquiring 50% of the medical services company Sharan at a valuation of 110 million shekels.
Sharan provides home medical services and was founded by Dr. Eve Biton, who will continue to serve as the company's chairman, while his son Itamar Biton will continue to serve as CEO. Eve and his wife Ayelet Biton will continue to hold 50% of the company's shares. Sharan, founded 20 years ago, is one of the largest companies providing home medical services and employs 700 people.
Maof was founded in 1999 and currently consists of nine companies. The group's annual revenue stands at 800 million shekels, operating through more than 70 branches with over 11,000 employees. The controlling shareholders are founders Yaniv Nadler (40%) and Amit Reshef (40%), together with Leumi Partners (20%). The group's CEO is Asaf Saran.
Entering the medical services field is a first for Maof, which intends to expand Sharan's operations using its own operational experience. The home medical market is estimated at 1.6 billion shekels and is growing at a fast pace due to increased life expectancy and the rising demand for home-based care.
Asaf Saran, CEO of Maof Group, stated:
"The investment in Sharan is another strategic move in realizing the growth vision of the Maof Group. We identify significant potential in community and home health services and see this field as an opportunity to build one of the group's growth engines in the coming years. The partnership with the Biton family will allow us to combine our capabilities, expand operations, and deepen our presence in the market."
Itamar Biton, CEO of Sharan Home Medicine, added:
"The partnership with the Maof Group is a significant step in the development of Sharan. We bring many years of experience in providing high-quality medical services, and the Maof Group brings management, growth, and operational capabilities that are among the leading ones in Israel."
