MedLife enters wellness market by taking over Sweat Concept One gyms
MedLife, the leader of the private medical services market in Romania, announced that it completed the acquisition of the majority stake in the Sweat Concept One company that operates the Sweat Concept gyms.
The transaction is one of MedLife Group's most important acquisitions in the first semester and marks the group's entry into the wellness services market.
Previously, the gym chain was owned by Radu Grosu, with 53% of the business and Marius Laurenţiu Matei (47%).
Sweat Concept One, which operates four gyms in Bucharest, ended 2021 with RON 2.54 mln in revenues, more than three times higher than in 2020. The company lost money for the third year in a row.
MedLife officials announced plans to accelerate nationwide the expansion of the Sweat Concept gym network.
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