Romanian private medical services provider Regina Maria, controlled by the investment fund Mid Europa Partners, reported its turnover rose to EUR 237 million (RON 1.15 billion) in 2020, 27% more than in 2019. This result makes it the market leader, Regina Maria CEO Fady Chreih said in an online show of Ziarul Financiar daily.

"The market is underserved. At the moment, we cannot meet the demand we have. The need for adapted medical infrastructure is very high," Chreih said.

"We have budgeted a 20% growth this year, so we hope to reach over EUR 260 mln. The increase is mostly organic, but we also have some purchases in the pipeline," he added.

The growth in 2020 was driven by the laboratories, which ran COVID-19 tests, and the corporate subscriptions division.

Fady Chreih has not disclosed the company's profit, but he underlined the significant volume of investments (EUR 20 mln) carried out last year.

Regina Maria group operates several different financial entities, the largest of which is Unirea Medical Center.

The results for 2020, as disclosed by Fady Chreih, are consolidated at group level, thus standing for the aggregated net turnover of the group's companies. Based on these numbers, Regina Maria surpasses MedLife - the market leader in recent years.

MedLife, a company listed on the Bucharest Stock Exchange (BVB), reported a consolidated turnover of RON 1.08 bln in 2020 (about EUR 223 mln), up by 11.5% compared to the previous year, according to its preliminary financial results. MedLife also posted a net profit of RON 62 mln (EUR 12.7 mln) in 2020, more than triple compared to 2019.

(Photo courtesy of Regina Maria)

andrei@romania-insider.com