Economy

Budapest – One of Hungary’s largest private healthcare providers, Doktor24, has secured its financial footing after a tumultuous period marked by the unexpected withdrawal of international investors, the company’s founders announced Monday. The firm has completed a leveraged buyout, regaining full Hungarian ownership after a period of significant foreign investment.

The crisis began in late 2023 when V4C, a Polish investment fund backed by the Polish state development bank, abruptly decided to exit the Hungarian market, according to Doktor24 co-founder János Kóka. The decision followed a period of political tension between Hungary and Poland. V4C had previously invested €10 million in Doktor24 with plans to support the company through a potential initial public offering.

“They simply said, regardless of how well we were doing, they were leaving,” Kóka said. “We went home and realized we didn’t have a few billion forints lying around.”

The withdrawal of V4C was followed by the exit of another international partner, Union Biztosító, a move Kóka and co-founder Róbert Lancz characterized as planned and strategic. Doktor24 subsequently purchased the stakes held by both V4C and Union Biztosító, completing the buyout with the assistance of Futó csoport, a financial investment firm.

“We didn’t aim for Bill Watson and his team to sell their stake to another foreign investor,” Lancz said, referring to the managing partner of V4C. “We built Doktor24, we know where we want to capture it, and we wanted to buy it back.”

The company reported revenues of 17-18 billion forints in 2024 and expects to exceed 20 billion forints in 2025. Despite the financial challenges, Doktor24 has continued to grow, focusing on profitability and streamlining operations. The firm has eliminated underperforming business lines and focused on core services.

“We’ve become much more profit-oriented, our structure is healthier, and our organic growth has remained,” Lancz stated. “We’ve gone from being a two-billion forint company in 2019 to exceeding twenty billion forints in 2026.”

Doktor24 has invested approximately ten billion forints in development, acquisitions, and the construction of a new hospital in Budapest. Despite these investments, the company has not distributed any profits to its owners over the past two decades, reinvesting all earnings back into the business.

The company is also committed to providing publicly funded healthcare services, even at a loss. Doktor24 performs nearly ten thousand prosthetic and sports surgery procedures annually under the national health insurance scheme (NEAK), incurring losses of almost two billion forints over the past five years. Kóka defended this practice as a significant corporate social responsibility initiative, ensuring access to high-quality care regardless of funding source.

Looking ahead, Doktor24 aims to become a nationwide platform offering comprehensive healthcare services, including preventative care, diagnostics, and inpatient treatment. The company is exploring potential acquisitions in the Western Balkans and Transylvania, and is preparing for a potential initial public offering.

“We are starting the preparations for a stock exchange listing, because we believe that the healthcare sector is sorely missing from the Hungarian stock exchange,” Kóka said. “It would be an interesting story with a high level of public ownership.”

The Toyota Yaris Cross, a new compact SUV, is now available in Brazil, aiming to craft hybrid technology more accessible to consumers. Priced starting at R$161,390 (approximately $32,000 USD), the Yaris Cross undercuts the cost of Toyota’s existing hybrid offerings, the Corolla and Corolla Cross, by as much as R$47,500 (roughly $9,400 USD), according to reports from Brazilian automotive news sources.

Toyota has long been recognized for the quality and reliability of its vehicles, and is a pioneer in hybrid technology. However, its hybrid models have traditionally carried a premium price tag. A Toyota Corolla hybrid in Brazil currently starts at R$191,890, while the Corolla Cross hybrid begins at R$219,890. The Yaris Cross seeks to address this affordability barrier.

The Yaris Cross is offered in two main versions: XRE and XRX, priced at R$161,390 and R$178,990 respectively for models with a traditional flex-fuel engine. A hybrid flex-fuel option is available for an additional R$11,000 for each trim level. The hybrid version achieves fuel economy of up to 17.9 kilometers per liter of gasoline in city driving.

Despite the lower price point, Toyota emphasizes the enduring value proposition of its vehicles, citing low depreciation rates as a key benefit for buyers considering resale value. The Yaris Cross’s design echoes that of the larger Corolla Cross and the RAV4, featuring similar headlight and front fascia styling. The XRX trim includes 18-inch alloy wheels, while the XRE comes with 17-inch wheels. Both models feature LED headlights and taillights, and chrome accents.

The vehicle measures 4.31 meters in length with a 2.62-meter wheelbase, only slightly smaller than the Corolla Cross. Cargo space is 391 liters in conventional models and 400 liters in hybrid versions.

Inside, Toyota has addressed criticisms leveled at the initial Brazilian launch of the Corolla Cross, which included complaints about cost-cutting measures. The Yaris Cross XRE includes an electronic parking brake, premium seat upholstery, and a generally well-constructed cabin. Safety features include six airbags and Toyota’s ADAS safety suite, featuring adaptive cruise control. The interior features a 7-inch digital instrument cluster and a 10-inch touchscreen infotainment system with wireless Android Auto and Apple CarPlay.

The XRX trim adds a panoramic sunroof, electric tailgate, auto-dimming rearview mirror, and additional interior lighting. The Yaris Cross utilizes a 1.5-liter aspirated engine producing 122 horsepower and 15.3 kgfm of torque in conventional models. Hybrid versions combine this engine with two electric motors, delivering a combined output of 111 horsepower and approximately 15.3 kgfm of torque. While not designed for high performance, Toyota states the hybrid powertrain provides sufficient power for daily driving, with the electric motor offering responsive acceleration in urban environments.

Positive attributes of the Yaris Cross include its comprehensive safety features, well-equipped interior, and fuel efficiency. Potential drawbacks include limited rear passenger space, a relatively high price for its class, and modest performance from the hybrid powertrain.

Toyota of Downtown LA, a dealer in Los Angeles, California, offers a range of Toyota vehicles, including the Corolla, but does not currently list the Yaris Cross in its inventory. Toyota of Glendale as well lists the Corolla for sale, and Toyota of Hollywood showcases new Toyota models, including the Corolla sedan and hatchback.