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Med Life S.A. - M

Communique - Ghencea Medical Center acquisition

Release Date: 2/21/2018 8:34:25 AM

IRIS Code: C00A6

 

MedLife announces the first acquisition for 2018: Ghencea Medical Center

 

 

Bucharest, 21st February 2018: MedLife, the leader of the private medical services market in Romania, announces the acquisition of the major share package (90%) of the company Ghencea Medical Center Bucharest, reaching a total of 18 acquisitions.

 

Ghencea Medical Center, with 10 years on the market, last year registered a turnover of 8.7 million lei, and for the current year aims at a 20% growth. The medical services provider has two clinics, in Bucharest and Magurele, with 135 employees, medical and support staff, providing the patients with a wide range of investigations for laboratory and imaging, specialized treatment in medical recovery and alternative medicine.

 

At the same time, Ghencea Medical Center is one of the relevant medical services providers under contract with The Bucharest Health Insurance House (CASMB), covering over 25 specialties, out of which family medicine, paediatrics, rheumatology, gastroenterology, neurology, cardiology, psychiatry, urology, dermatology and ENT.

 

“We continue the expansion and development of the company and we announce the first acquisition for 2018, a medical services provider, active mainly in Bucharest, with a well formed business structure, with outstanding results and a high growth and development potential. According to our policy for the acquired companies, the current shareholders will join us and they will carry on ensuring the management of the company, MedLife having the widest experience regarding good cooperation with medical entrepreneurs. At the same time, this transaction is a first step in developing the medium cost network of the company, functioning under the brands Anima and Sfanta Maria, by means of acquisitions” declared Mihai Marcu, MedLife President and CEO.

 

“The partnership with MedLife represents a major development opportunity for our business, on the one hand we will benefit from know-how in the medical and management areas, and on the other hand, we will offer our patients better medical assistance, both by diversifying the services offered and by the territorial coverage. Furthermore, due to this partnership, we will manage to close the circle of the services offered, thus the patients consulted by our family or specialty doctors can get hospitalized for surgery or for birth in the MedLife hospitals. This is probably the most important benefit we can provide to our patients, payers and subscribers, at the same time”, declared Dr. Gabriela Kubinschi, General Manager, Ghencea Medical Center.

 

For 2017 MedLife reported a pro-forma consolidated turnover of 638 million lei, with a 27% growth compared to 2016 and an adjusted pro-forma EBITDA of 82.3 million lei.  For the current year the company aims over 20% growth.

About MedLife:

MedLife is the largest private medical operator in Romania. The company operates the largest network of clinics, one of the major networks of medical laboratories, multi and monodisciplinary hospitals and it has the largest client base for Health Prevention Packages at national level. Also, sales-wise, it is one of the major private healthcare companies in Central and Eastern Europe.

The stock issued by MedLife SA is accepted for trading on the on spot regulated market, managed by the Bucharest Stock Exchange, under the Premium Category, ticker symbol “M”.

The MedLife Group has a successful background regarding both organic and also acquisition growth. Since 2009 the company has opened or bought over 83 medical units. Its strong and experienced management team has been able to create and manage these growth opportunities, acquiring valuable experiences and knowledge, allowing it to find the best way for carrying on the expansion process successfully.

 

 



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