Medicover ups turnover in Romania, as hospital revenues increase

Medicover, one of the biggest private healthcare operators in Romania, owned by Swedish investors, saw a turnover of EUR 56.7 million last year, up 13% over 2014. The growth was mainly due to the higher revenues recorded by the hospital in Bucharest. The group includes a network of clinics, the Medicover hospital, and the Synevo medical test laboratories. The hospital’s turnover amounted to EUR 6.3 million, up over 26% compared to 2014. The group’s clinics network saw a turnover of EUR 15 million, up 13% compared to 2014. However, both the clinics and the hospital continued to record losses in 2015, albeit lower than in previous years, according to financial data from the Finance Ministry. The medical test lab network Synevo continues to be the group’s biggest business, with a turnover of EUR 35 million, up 13% year-on-year, and a net profit of EUR 2.86 million. The company’s shareholders reinvest their profit every year to develop the healthcare operator. “One of the main achievements (in 2015) was the expansion of our national network through the opening of the Medicover clinic in Timisoara, following an investment of about 600,000 euros,” said Adrian Peake, General Manager of Medicover Romania. “This year has already proven itself even more dynamic. We relocated and expanded our clinics in Ploiesti and Brasov, and we opened a brand new multidisciplinary unit in Galati, further expanding our national presence. We are confident that our network’s expansion will continue,” he added. Medicover invested almost EUR 1.5 million in the first half of 2016. The biggest players on the local private healthcare services market include Romanian groups Medlife, Regina Maria, Sanador, and Polisano. Medicover Romania opens new clinic in Brasov editor@romania-insider.com