Romanian MedLife splashes EUR 10 mln to consolidate position on Brasov private health care market

Romanian private health care operator MedLife has opened a new hospital in Brasov and acquired the Eva maternity in the city, along with two other previous acquisitions, with a total budget of EUR 10 million, the company has announced.

MedLife has thus managed to expand its network in Brasov and run a hospital, clinic, maternity, laboratory and pharmacy in the city, similarly to Bucharest. The Brasov hospital is the fourth such unit operated by MedLife, after the ones in Bucharest and Arad. The 5,500 sqm hospital required investments of EUR 2 million in medical equipments. With over 140 employees, the new hospital has 30 medical specialties, an imaginery center, three surgery rooms and 60 beds. MedLife expects 120,000 patients for the clinic in the first year of activity and 3,000 patients for the hospital. MedLife has acquired the Policinica de Diagnostic Rapid group and the Genesys group in Brasov, along with the Eva maternity, for a total of over EUR 8 million. MedLife has recently received a EUR 40 mln financing package from the International Finance Corporation (IFC), Erste Group and its subsidiary BCR. This will fuel an investment program which, together with the company’s owns funds, will exceed EUR 50 million by 2015. MedLife wants to open news units in Bucharest and across the country. The operator wants to reach 10 hyperclinics, 6 large hospitals, 10 labs and 12 pharmacies at the end of this investment program. MedLife is majority owned by the Marcu family, with the International Finance Corporation (IFC) being a minority shareholder, with 12.7 percent of the shares and SGAM Eastern Europe investment fund, with 36.25 percent of the shares. Corina Saceanu, corina@romania-insider.com (photo source: MedLife)