MedLife buys Arad-based Genesys Medical Clinic in EUR 3 mln deal

Private medical operator MedLife has taken over 55 percent of Genesys Medical Clinic in Arad, one of the biggest private medical care operators in Western Romania, in a deal worth EUR 3 million. The Arad-based group will be called MedLife-Genesys, following the takeover. Genesys Medical Clinic posted a turnover of EUR 2 million last year and hopes to double its turnover this year. Its existing units total 4,000 sqm. MedLife plans to open 15 new units this year- hospitals, clinics and pharmacies, as well as continue the local acquisitions, according to Mihail Marcu, president of MedLife. The company acquired a clinic in Brasov mid-last year, for EUR 3 million. It expects a 40 percent increase in its turnover this year, compared to the EUR 26.2 million last year. MedLife was opened in 1996 and runs five hyperclinics in Bucharest and across the country, five laboratories, 28 general medical centers, six specialist centers and collaborates with 100 medical clinics in Romania. It also owns life Memorial Hospital, which was opened following an investment of EUR 17 million. editor@romania-insider.com