Completion of OncoCard Hospital Brasov acquisition

MedLife Group finalized the acquisition of OncoCard Brasov after the approval of the transaction by the Competition Council. With its completion, the aggregate leader of the private medical services market has become the largest medical services operator in the diagnosis and treatment of cancer in Romania.

It is one of the most important transactions of the first half of this year that comes to consolidate with Neolife – the area of oncology and radiotherapy, in accordance with the strategic objectives set by MedLife and announced to shareholders.

Inaugurated in 2012, with an investment of over 24 million euros, OncoCard Hospital Brasov is based on an innovative concept of integrative medicine starting from the diagnostic phase and covering the full range of specific active therapies. The hospital provides a mix of state-of-the-art technology, multidisciplinary teams of specialists, which provides each patient with a personalized approach that increases the chances of curability and quality of life.

With a total of over 240 employees and collaborators, OncoCard Brasov finalized last year with a turnover of 63.7 million RON.

We are moving forward and faster than ever in our ambitions to diagnose as many cancers as possible at an early stage and to save as many lives as possible. In this sense, after Neolife – whose expertise is very valuable in the field of oncology and radiotherapy – we brought in the group a new strong partner – OncoCard Brasov. Together, we have access to the latest knowhow in oncology, cutting-edge technology and the best-trained medical teams, with the goal of consolidating the largest diagnostic and treatment platform for many types of cancer. We believe that these partnerships will redefine the standards of care for oncological patients, with Romania having the potential to become a medical tourist destination even for patients abroad”, said Dorin Preda, Executive Director, MedLife Group.

According to MedLife representatives, OncoCard transaction was carried out by Policlinica de Diagnostic Rapid, the first company acquired by MedLife 12 years ago. Upon completion of this acquisition, Brasov will become a regional health hub that will integrate no less than 15 medical units, including 2 large hospitals, 3 hyperclinics, 3 laboratories and a number of micro clinics and testing centers nearby.

We are glad to see that our sustained efforts translate into sustainable results both in terms of improving the quality of life of patients, but also in performance and new perspectives for the development of Romanian business. More than a decade ago PDR had 2 units and a turnover of about 3 million euros and today, after 12 years, as part of MedLife Group, we are talking about 15 medical units, almost 30 million euros turnover and the ability to complete own M&A transactions. We believe that these prove the skill of the Romanian management and the conviction that performance can be made and the quality of life in Romania can be improved with Romanian managers, with Romanian doctors and with 100% Romanian know-how. In fact, we are the only company with Romanian capital in top three players in private healthcare in Romania, together with a top management team and many of the Romanian entrepreneurs who have founded the businesses we have integrated in our group. We were listed on the Bucharest Stock Exchange, at our home and we manage to remain a detached leader for more than a decade,” said Mihai Marcu, President of MedLife Group.