Romania’s MedLife Group reports higher revenues, lower net profit in H1

MedLife Group (BSE ticker: M), Romania’s largest private healthcare operator, reported revenues of RON 1.06 bln (EUR 216 mln) in the first six months of 2023, a growth of 24% compared to the same period of the previous year.

According to the report, all business lines of the MedLife Group experienced robust growth in the period of January to June 2023, with the most performing being clinics (plus 41%), hospitals (plus 36%), and the corporate division (plus 13%), followed by dental clinics and laboratories with growth rates of 11% and 9% respectively.

However, the net profit of the private healthcare player decreased during the mentioned period, from RON 45.6 mln in H1/2022 to RON 5 mln (EUR 1 mln) in the first half of this year.

In the coming period, MedLife is focusing on consolidating its leadership position by continuing organic projects with an emphasis on expanding the network of hospitals in Bucharest, through ongoing work on the MedLife Park project, and by opening new units in the Oltenia and West regions. MedLife representatives do not exclude the possibility of new acquisitions either, but optimizing operational flows and procedures is currently the focus of the group.

"In the coming months we are emphasizing efficiency and the development of more ambitious organic projects that will strengthen the largest network of clinics, laboratories, and hospitals available nationwide," stated Mihai Marcu, CEO of MedLife.

MedLife Group currently owns the largest network of private medical services in Romania with approximately 700 locations, both owned and in partnership, nationwide. Over 6 million unique patients have utilized prevention, wellness, treatment, and hospitalization services in MedLife units so far, and over 800,000 employees benefit from medical services through subscriptions.

(Photo source: the company)