MedLife, ambitious targets for 2015: six new medical units and 5 million clients

Following a turnover of EUR 80 million and an operational profit (EBITDA) of EUR 13 million in 2014, up by 25 percent compared to previous year, MedLife, one of the most important players on the domestic market of private healthcare services, revealed its plans for current year.

Thus, according to Mihai Marcu, President of MedLife’s Board, for 2015 the private healthcare operator targets an organic growth of 16 percent to EUR 93 million and an accelerated growth of EBIDTA to EUR 17 million, an advance of 31 percent against 2014.

“In 2014 we continued to consolidate our leading position nationwide. We have expanded in Iasi, Constanta, Galati, Targu Mures and Covasna and recently in Craiova, Slatina and Ramnicu Valcea. We have grown above the market rate, given that Romanians were more careful in terms of health expenditure and the funds allocated by National Health Insurance House (CNAS) decreased,” Mihai Marcu said.

As regards the development plans for this year, MedLife representatives plan three strategic directions: a new series of greenfield projects, acquisitions and new business lines.

2015 is another year of expansion for Medlife. “In H1 2015, ie in April – May, we will complete almost simultaneously, five large projects in Bucharest: a multidisciplinary hospital in Titan, a new Hyperclinic in Berceni, a neurosurgery center on Ferdinand Bld, a dental clinic in Unirii Square, and a center of cardiology and interventional radiology in Grivita area, the last ones representing three entirely new lines of business. In addition, we plan the expansion of Grivita laboratory where it will be installed the first and the most advanced automation line of medical evidence in the Balkan region, using Abbott equipment,” MedLife official explained.

According to him, in H2 Medlife wants to complete two other large projects, implemented at regional level, namely the extension of its Hyperclinic in Timisoara and the inauguration of a new large clinic in Cluj. In addition to these projects, MedLife is in discussions to purchase 3-4 local operators with a minimum value of turnover of EUR 7-10 million per company.

“We believe that all these projects will further strengthen our leading position and will bring us closer to our goal, to reach five million unique clients by the end of the year,” Mihai Marcu said.

In his turn, Nicolae Marcu, General Director MedLife announced that in a few months, the private healthcare operator will open new lines of business: AngioLife, NeuroLife, StomaLife, BioLife.

According to MedLife representatives, the medical services market grew by 7 percent last year, but in 2015 it will be a better dynamics, namely of 10-12 percent, one of the drivers being the subscriptions. On this occasion, they mentioned that the dialogue between public and private environment should be more balanced and CNAS can find in MedLife a real partner. Moreover, the state was absolved by EUR 25 million due to MedLife, besides the nearly EUR 10 million paid as taxes.

MedLife argues that owns 4 percent of the doctors in Romania. As regards the recruitment staff domain, medium level, the private medical operator reaches difficulties.

acquisitionsAngioLifeBioLifeclientsclinicsCNASdoctorsgreenfield projectsHyperclinicleading positionmedical unitsMedLifeMihai Marcu President of MedLife's BoardNeuroLifenew business linesNicolae Marcu General Director MedLifeprivate environmentprivate healthcareStomaLifetargetsturnover
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