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Med Life S.A. - M

Communique Q3 2019 financial results

Release Date: 11/14/2019 9:50:43 AM

IRIS Code: ABAA9

 

 

MedLife Medical System announces an increase by 20% in the first 9 months of this year, as compared to prior year

There are premises for MedLife to be the first medical provider in the region to exceed 200 million euros at the end of this year

 

November 14, 2019, Bucharest: MedLife, the leader of the private medical services market in Romania, ends the first 9 months of 2019 with pro-forma Sales of 696 million RON, increasing by 20% compared to the same period last year. According to company representatives, clinics and hospitals had the highest dynamics, these segments recording an increase of 30%, respectively 20% over the same period last year, followed by laboratories and the corporate division, with 13% and 9%. The group has registered significant sales growth also in the pharma division, of 10%, and in the stomatology division, of 36%, where together with Dent Estet Group holds leading position at national level.

“The first 9 months of this year were very dynamic, recording results in line with the initial estimates and significantly above the market growth rate. In addition, we have developed an intense acquisition program, already announcing 5 acquisitions since the beginning of this year and preparing for other important transactions, which we hope to announce by the end of this year. Thus we consolidate our position and extend our national borders a lot, at the moment MedLife being the medical provider with the largest network of own medical units at national level, 95% of the Romanian residents can arrive in 60 minutes by car to a MedLife medical unit. We are pleased to confirm to our investors and shareholders that we have fulfilled the promise of becoming an alternative private medical system for diagnosis and treatment with a national medical infrastructure”, said Mihai Marcu, President and CEO of MedLife Group.

In the period to come, MedLife Medical System aims to open new own units, while developing new business lines: “We plan to open new MedLife units, thus facilitating access to medical services of an even larger number of Romanians. We also invest in large-scale projects both on the medical technology side, and on the digital and online side, and we believe that we have reached the stage where we need to take the experience of Romanians with the medical system to a new level. The complexity and amplitude of the medical act has increased greatly in MedLife and this is shown by the number of over 25,000 Romanians who visit us every day” continued Mihai Marcu.

 

For the last part of this year, MedLife representatives intend to maintain the accelerated pace of development of the company, with the premise that by the end of 2019, as long as the started projects will be completed, MedLife Medical System will become the first group of medical services in Romania to exceed Sales of 200 million euros.

 

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, 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 130 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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