Romanian healthcare operator MedLife takes full control of stem cell bank

MedLife, which is the largest private operator in the local health care system, has acquired another 40% stake in the Timisoara-based Stem Cells Bank. The company previously bought a 60% stake in Stem Cells Bank in March 2016. The stem cell bank was inaugurated in 2010 in Timisoara. Besides that, MedLife recently took over another 3% in the Arad-based Genesys Medical Clinic group. The company currently owns a stake of 58% in the company, which includes a large hospital, maternity, and laboratory. MedLife recorded a net profit of almost EUR 1 million in the first quarter of the year, up 15.5% year-on-year. Its turnover amounted to EUR 32 million during this period. The company is listed on the Bucharest Stock Exchange and has a market value of EUR 160.7 million. editor@romania-insider.com