Manor Evergreen Investment Fund signed an agreement on Monday to buy 50% of nursing-care provider Natan for NIS 200 million, after negotiations that were first reported in January. Of the total, NIS 20 million will be invested into the company, while NIS 180 million will go to spouses Tzvi (Tzvika) and Miriam (Miri) Natan, who will keep the other 50% stake. After 38 years in the business, the couple are cashing out a major portion of the company they built together, with Miriam as the sole registered owner.
Tzvi Natan will take over management of the company, replacing Itamar Harel, a former senior vice president at Bezeq. Harel was appointed in 2021, after Yael Alexandr, the company’s first chief executive other than the Natans. Natan’s annual revenue is estimated at NIS 700 million to NIS 800 million, with profit of about NIS 40 million. The company operates through 37 branches, including sites focused on mental health care, and employs 18,000 caregivers.
Founded in 1988, after the Natans identified growing demand for nursing services, Natan provides care for National Insurance and welfare authority clients. Its staff includes not only regular caregivers but also psychologists, psychotherapists, social workers, licensed nurses and occupational therapists. The business was launched the same year as Amall and Maavar.
The National Insurance tender, which worsened conditions for nursing companies, and related legal proceedings delayed the deal somewhat, though they had only a limited effect on the price. About 50% of the revenues of major nursing firms, including Amall, Danal and Natan, come from the National Insurance Institute. Manor, led by Avi Ortal, Yuval Zeira and Lilach Katz, all former Leumi Partners executives, aims to improve Natan’s operations and take it public as the third listed manpower and nursing-services company after Amall and Danal. Manor has raised NIS 1.5 billion over the past three years.
