Romanian medical services provider plans to enter Hungarian market

MedLife, the biggest private medical services operator in Romania, is in advanced negotiations for taking over a Hungarian company operating in the medical services sector as well, Ziarul Financiar daily informed, quoting MedLife’s CEO and largest individual investor Mihai Marcu. The takeover involves EUR 5 million investments. Hungary is a less developed market than Romania, Marcu explained, confirming advanced discussions with a medical company in the neighbouring country possibly leading to a deal sometime during the first quarter of this year. “We do not intend to invest outside the country more than EUR 4-5 million in a first stage,” he added in a discussion with ZF, explaining that the move is positively viewed by investors. MedLife, a blue chip on Romania’s stock exchange, has a capitalization of RON 607 million (EUR 90 mln). Since the beginning of the year, its shares have risen by 2.2% against the 2.5% decline of the main index, BET, part of which it is. MedLife reported RON 579 million (EUR 86 million) consolidated revenues for the first nine months of last year, 26% higher than in the same period of 2017, and RON 12.7 million (EUR 1.9 mln) net profit in the same period (+33%). Romanian healthcare group MedLife aims to pass the EUR 200 mln turnover threshold this year editor@romania-insider.com (photo source: MedLife)