Medical services provider MedLife acquires 80% stake in Timișoara network of clinics

Private medical services provider MedLife has acquired an 80% stake in the shares of Medici’s, a network of clinics in Timișoara, in western Romania.

Medici’s, which has a network of four clinics, is currently building a multidisciplinary hospital in Timișoara.

Under the deal, MedLife is taking over the four Medici’s clinics, the Laborix lab, and the Medici’s Hospital. The transaction is pending the approval of the Competition Council.

Once the transaction is completed, MedLife will own in Timișoara five clinics, two labs, one hospital, and one stem cell lab.

With a total surface of 5,500 sqm, the Medici’s hospital will be made up of two twin towers. The construction of the first building was finalized, and the interior fittings works are currently underway. It will include operating rooms, an intensive care unit, pre-and post-surgery care rooms, and a pharmacy. The first building is scheduled to open in December 2022, while the second is due to be finalized in 2024.

Medici’s has a portfolio of 40,000 subscribers, four clinics, 40 offices for consultations, a medical imaging lab, and a test lab. It works with 200 doctors, either as permanent staff or collaborators.

The company invested more than EUR 15 million in 25 years. Last year, it reported a turnover of RON 20.3 million (more than EUR 4 million), up 40% compared to 2020.

Once the acquisition is finalized, the current management team will keep its attributions.

“The area shows significant potential and through the partnership with MedLife we will become an access gate for millions of people who want complex and quality medical services,” Dr Adrian Bădescu, the founder and CEO of Medici’s, said.

“In MedLife’s long-term strategy, hospitals are a central point, and we aim to contribute significantly to their development. We have, on the one hand, an aged population and complex pathologies, and, on the other, we see a change in the mentality of patients, who opt for integrated medical services, personalized and highly complex. With the opening of Medici’s Hospital, we will have a network of 16 hospitals nationally,” Dorin Preda, executive director of MedLife Group, said, quoted by Startupcafe.ro.

(Photo: Andrei Stanescu/ Dreamstime)