Romanian healthcare chain MedLife continues takeovers

MedLife, the biggest Romanian medical services provider, has taken over a majority stake in the Onco Team Diagnostic laboratory in Bucharest.

This is the first pathological anatomy laboratory in the company's portfolio.

"The laboratory is equipped with state-of-the-art technology, in line with MedLife standards, and the team is made up of super-specialized physicians on their niche. This is the first step in the expansion and development project, approved by the shareholders a few months ago," said Mihai Marcu, president and CEO of MedLife Group.

Onco Team Diagnostic has been operating for 6 years. Last year, the laboratory had a turnover of RON 5.2 million (EUR 1.1 mln) and a profit of EUR 10,000.

MedLife reported a turnover of RON 468 mln (EUR 100 mln) in the first half of this year, up 25.4% compared to the same period last year. Its operating profit increased by 65% to RON 28.1 mln (EUR 5.9 mln). The company has financed its expansion from loans, which reached RON 697 mln (EUR 146 mln) at the end of June.

(Photo source: the company)