Romanian healthcare provider MedLife buys stem cell bank

Private healthcare operator MedLife has entered a new business segment, after buying a majority stake in the stem cell bank company Stem Cells Bank based in Timisoara. This is one of the largest stem cell banks in South-Eastern Europe. The company carries out its activity in Bucharest and Timisoara, but has its depositary bank in Timisoara. This is the second transaction carried out by Medlife this year, after acquiring a 55% stake in the group of local companies Medical SAMA and Ultratest. Medlife acquired the first local operator five years ago, when it bought an 80% stake in a polyclinic in Brasov. “We have gained a relevant know-how and the acquisitions will be even more important in our turnover,” said Mihai Marcu, Medlife board president. He added that the company’s decision to enter a new business segment came naturally, as MedLife’s three maternities host over 3,500 births every year. MedLife aims to reach EUR 100 million in sales this year. editor@romania-insider.com