Romanian healthcare operator MedLife sees 27% increase in turnover in first nine months

MedLife, the biggest private healthcare operator in Romania, registered a consolidated turnover of RON 459 million (EUR 100.8 million) in the first nine months of this year, up 27% compared to the same period of 2016. The group’s operating profit also went up 2.5 times to RON 29.1 million (EUR 6.4 million) and the net profit went up to RON 9.56 million (EUR 2.1 million). All of the group’s business lines registered significant year-on-year increases. The clinics, which represent 27% of the total sales, increased their revenues by 35%, while the stomatology division almost tripled its turnover. The pharmacies and laboratories saw their revenues up by about a quarter while the hospitals and the corporate segment increased by 13% each. The positive evolution was supported by the acquisitions MedLife has made in recent years. Only in the first nine months of this year, the group purchased tree smaller healthcare operators and increased its stakes in two companies purchased in previous years. The biggest acquisition was that of the Anima clinics. However, in October, MedLife announced its biggest purchase so far, that of the Polisano medical services group, which operates four clinics, test labs, a hospital in Sibiu, and a maternity. The group aims to continue its expansion strategy through acquisitions as well as greenfield projects, and plans to develop new business lines, according to MedLife CEO Mihai Marcu. “At the same time, we are analyzing the possibility to expand abroad and test the proximity markets in the next years, without making large-scale openings,” Marcu said, according to Economica.net. editor@romania-insider.com