MedLife announces the first acquisition of 2021, Medica Sibiu:
"Through this acquisition we are consolidating the largest network of medical units at national level and we reach consolidated pro-forma Sales of 252 million euros"
• Through this transaction, MedLife strengthens its position at national level, complementing its services offered in the center of the country.
• With the acquisition of Medica Sibiu, MedLife reaches 31 acquisitions, being the group with the largest know-how regarding the integration of companies run by Romanian entrepreneurs in which the management is kept.
• MedLife will continue its national M&A program and, as opportunities arise, the company will try regional markets as well.
• As a Romanian company, listed on the local stock exchange, MedLife wants to develop Romanian capital, aiming to consolidate its position at regional level.
Bucharest, March 15, 2021: MedLife Medical System announces the acquisition of the majority stake of 60% in Medica Sibiu, one of the important providers of private medical services in Sibiu County. With this acquisition, MedLife is consolidating its largest network of private medical units with national coverage.
Medica Sibiu has been operating on the private medical services market since 2001 and consists of a large outpatient unit, a medical analysis laboratory and an occupational health center. In addition, Medica Sibiu is one of the providers under contract with Sibiu County Health Insurance House (CJAS), covering a wide range of laboratory tests and medical consultations, for specialties such as endocrinology, internal medicine, neurology, psychiatry, clinical psychology. According to the company's representatives, in 2020, Medica Sibiu registered a turnover of 3.7 million RON.
"Even if the pandemic adjusted the development plans of the last year, but also those of the current year, as we announced, we continue the expansion and development plan, we keep ongoing the M&A program. We have three - four advanced discussions in Romania and one - two abroad. As a Romanian company, listed on the Bucharest Stock Exchange, we want to develop Romanian capital, take it across the border and consolidate our position at regional level ", said Mihai Marcu, President and CEO of MedLife Group.
“We are glad that we will team up with the leader in medical services in Romania, that we will join a group with an extremely complex medical structure and an exceptional know-how at business level. Since our inception, we have constantly diversified and improved our portfolio of services to support our patients. We are a dynamic team that has gained solid experience over the years, and we are ready to face the new challenges of development and expansion", said Daniela Aldea, General Manager of Medica.
Through the acquisition of Medica Sibiu, MedLife group reaches a portfolio of 31 acquired companies, the last announced being CED Pharma group. At the same time, through this acquisition, group`s consolidated pro-forma Sales reaches 252 million euros.
About MedLife Medical System:
MedLife Medical System started 26 years ago, has developed healthily and has become the largest provider of private medical services in Romania. Romanian entrepreneurs, who founded this company, invested and got involved to change the Romanian health system, believed in innovation and dared to aim as high as possible, to offer Romanian patients qualitative services, professionalism, care and respect for their needs.
The company operates the largest network of clinics, one of the largest networks of medical laboratories, general and specialized hospitals and has the largest corporate clients base for Health Prevention Packages in the country. It is also one of the largest private healthcare providers in Central and Eastern Europe in terms of sales.
MedLife Group has a history of success in terms of both organic growth and by acquisitions. Strong and experienced management team, composed 100% of Romanians, was able to create and manage these growth opportunities, gaining valuable knowledge and experience, which allows to find the best way to successfully continue the expansion.
Being a Romanian company with a tradition, MedLife chose to be listed on the Romanian Stock Exchange, being a model for listings on the local capital market. It has opened up new horizons, and through the corporate governance it has implemented, has inspired other local companies to embark on this path and help develop the Romanian capital and economy. The shares issued by MedLife SA are admitted to trading on the regulated spot market administered by the Bucharest Stock Exchange, Premium Category, with the trading symbol ″ M ″.
During the pandemic, MedLife managed to play a key role in society and gain a detached leadership status in pandemic monitoring through active involvement in research activities.
The company continues to invest in projects in technology and infrastructure, with impact on the local community. It creates jobs and develops an ecosystem that contributes to the development and maintenance of a healthy Romania.