Leading Romanian healthcare provider stregthens with new acquisition in Oradea

MedLife (BSE ticker: M), the biggest Romanian provider of medical services, continues its expansion strategy in the country with a new acquisition - Medicris Oradea. This is the group’s fourth deal this month, after two acquisitions in central Romania (Targu Mures and Sfantu Gheorghe) and one in Timisoara.

On Friday, June 24, MedLife announced that it took over full control of the Medicris Oradea group, which is the largest center for occupational medicine and related services in the whole Bihor county.

"This new transaction means a natural expansion of the service portfolio for our patients and subscribers, Medicris Oradea being the largest provider of occupational medicine medical services in Bihor, plus several other related specialties.”

The company aims to expand and offer even more services. “With the integration of the new subscriber portfolio, we will be able to serve even more local companies, meeting them with complimentary services offered also through the hyperclinic and laboratory we have in Oradea or the dermatology and aesthetics center, DermaLife, opened earlier this year", Dorin Preda, Executive Director of MedLife Group stated.

The Medicris group has been active in Oradea’s private healthcare sector for more than 20 years and offers outpatient medical services by integrating 9 distinct medical specialties: occupational medicine, ophthalmology, internal medicine, ENT, psychology, and more. It currently has a portfolio of over 22,000 subscribers and patients.

The Medicris Oradea transaction was carried out by Genesys Arad, one of the first companies acquired by MedLife Group, according to the company’s spokesperson.

MedLife Group will continue to invest heavily in the growth of the network in Romania by carrying out new medium and large transactions in the coming period.

MedLife has the largest portfolio of acquisitions in the medical area in Romania. The group registered a consolidated turnover of RON 1.43 bln (EUR 288 mln) and a net profit of RON 113 mln (EUR 22.8 mln) in 2021.

The group’s shares, which are trading on the Bucharest Stock Exchange’s main market and are part of the blue-chip BET index, are up 27.5% in the last 12 months, in spite of a 15% correction since the beginning of this year. The company’s market capitalization is currently RON 2.66 bln (EUR 538 mln, as of June 27, 2022).