Romanian private clinic network MedLife sees 28% higher revenues, seeks new takeover targets

MedLife, the leader of the private medical services market in Romania, reported a RON 224.9 million (EUR 47.3 mln) pro-forma consolidated turnover in Q1, 27.6% higher than in the same period last year. However, the consolidated net profit declined by 46% compared to the same period of 2018, to RON 2.37 million (EUR 0.5 mln).

The company will continue its expansion into the country and abroad, currently discussing the takeover of “several medium-sized companies in the country and Hungary.”

“We are very pleased with the results, particularly by the decline in the indebtedness, which encourages us to turn to shareholders and ask for larger financing packages needed to resume acquisitions in Romania, Hungary, and neighboring countries, where we see significant growth potential. After the successful transaction in Hungary, we think it is a good time to prospect and test the neighboring markets more deeply,” said Mihai Marcu, president and CEO of MedLife Group.

“We are currently discussing with two or three operators from Romania and another two or three from Hungary and, given the specificity of this type of transactions, we hope that we will be able to return with good news to our shareholders on some medium-sized transactions in the second half of the year or early next year,” he added.

(Photo source: MedLife)