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Med Life S.A. - M

MedLife is expanding its stake in SAMA Craiova and PDR Brasov

Release Date: 1/21/2019 1:57:24 PM

IRIS Code: 14815

 

MedLife is expanding its stake in SAMA Craiova and PDR Brasov

 

 

Bucharest, January 21, 2019: MedLife, the leader of the private medical services market in Romania, announces the acquisition of a new 35% stake in the SAMA group of companies in Craiova, one of the most important medical services providers in Southwestern Romania. In this way, MedLife will be the shareholder with 90% of the shares of the Oltenia group of companies (from 55% share initially).

 

The SAMA Group consists of three multidisciplinary clinics, including a day inpatient unit, a kinetotherapy center, two occupational health centers, six laboratories and several sampling points. SAMA units are present in Craiova, Ramnicu Valcea, Slatina, Balcesti and Calafat.

 

MedLife also acquired another 3% of PDR Brasov group, one of the most important private medical services providers in Romania, thus the company holding 83% of the shareholding (from 80% share initially).

 

MedLife entered the market in Brasov in 2010, with the acquisition of PDR Brasov group of companies. At present, the group brings together a multidisciplinary hospital (MedLife Brasov Hospital), a maternity (MedLife Eva Brasov Maternity), three hyperclinics (MedLife PDR Vulturului Hyperclinic, MedLife PDR Turnului Hyperclinic and MedLife Brasov Hyperclinic), a pediatric center, six medical centers (Fagaras, Sf. Gheorghe, Codlea, Bran, Poiana Brasov, Sacele), four laboratories (in Brasov and Sf. Gheorghe) and a pharmacy owned by PharmaLife Med. Under MedLife's management, PDR group has reached the top 10 largest private healthcare providers in Romania.

 

The additional shares in SAMA and PDR groups were obtained based on an exchange with MedLife shares, in line with the decision taken by the Board of Directors of the Company, empowered by the Extraordinary General Meeting of Shareholders (EGMS) on October 8, 2018. This transaction is aimed at group alignment, but also compliance with the acquisition strategy, which recognizes and encourages the contribution of the founders of the subsidiaries to the integrated activity of the MedLife group.

 

"The decision to acquire new shares in SAMA and PDR groups is in line with EGMS decision from October 8, 2018 and represents a consolidation process in business development. In the 4 years since we have been present on the market in Craiova and 9 years on the market in Brasov, we have continued to invest, we have increased the quality of services and the complexity of the medical act, both cities becoming important business centers for MedLife. In 2019, we will continue the business plan announced to investors and shareholders, continuing to strengthen our position at national level, both through acquisitions and greenfield projects, "said Mihai Marcu, President and CEO of MedLife.

 

Since 2010 to date, MedLife has completed 20 acquisitions, becoming the operator with the greatest expertise in this segment. Currently, the ompany assesses the possibility of expanding beyond the borders.

 

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 spot regulated market, managed by the Bucharest Stock Exchange, under the Premium Category, trading 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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