MedLife, Romania’s largest private medical services provider, ended 2017 with sales amounting to RON 638 million, up by 27 percent, on a pro-forma basis and adjusted EBITDA to RON 82.3 million, according to the preliminary financial report, a press release informs.
The clinics and the corporate subscriptions division account for the largest share of the announced turnover, RON 173 million, respectively RON 148 million, followed by hospitals and laboratories, RON 121 million and RON 118 million. According to the company’s representatives, the results are in line with the initial estimates and significantly above the growth rate of the market.
“2017 was a year of great challenges in the field of development projects through acquisitions. We have completed the takeover of Almina Trading, Anima and Humanitas Hospital, three major operators in the south and northwest of the country. Moreover, we acquired Polisano’s clinics and hospital, the operator of the top 10 largest private medical services companies in Romania, and if the transaction will be approved by the Competition Council we will reach a total of 35 companies in a group and a number of 6,300 employees and collaborators throughout the country,” said Mihai Marcu, CEO of MedLife.
For 2018 MedLife officials aim to maintain the company’s accelerated growth pace, with projected growth of over 20 percent against 2017.
“We estimate that we will complete in the first trimester another 2-3 smaller transactions whose Due Diligence activity is close to completion,” Mihai Marcu also stated.
In addition to greenfield projects and acquisitions, the company also plans two more important goals for 2018: to become a national leader in the magnetic resonance area by acquiring 6 new MRI Scans, thus reaching a total of 12 such network-level equipment, and to extend to proximity areas outside the country.