MedLife opens first private orthopedics hospital in Bucharest with EUR 8.5 mln

Romanian private healthcare operator MedLife has opened its first orthopedics hospital in Bucharest, following an investment of EUR 8.5 million. On some 2,000 sqm and three floors, the new hospital in the Eastern part of Bucharest (on Ferdinand boulevard) is in a building formerly occupied by telecom operator Romtelecom. Romtelecom has kept a shop at the ground floor of the building. The new investment brings the number of MedLife hospitals to six, giving a total of 540 beds and 22 operating theaters. The company expects a turnover of EUR 2 million from the new hospital in the first year of activity and some 1,000 patients per month. MedLife has an investment plan worth EUR 52 million until 2015. Besides the existing six hospitals, the company runs nine hyperclinics, eight labs, six pharmacies and three maternity hospitals. MedLife was created in 1996 by the Marcu family, who still hold a controlling stake in the company. Minority shareholders are the International Finance Corporation (IFC), with 12.7 percent of the shares and SGAM Eastern Europe investment fund, with 36.25 percent. MedLife recently received a EUR 40 million financing package from the International Finance Corporation (IFC), Erste Group and its subsidiary BCR, to fuel the planned investments up until 2015. Corina Saceanu, corina@romania-insider.com (photo source: MedLife)