Ghencea Medical Center, MedLife’s first acquisition in 2018

MedLife continues its expansion and development, announcing the first acquisition for 2018.

Romania’s largest private healthcare services provider bought the major share package (90 percent) of Ghencea Medical Center Bucharest, reaching a total of 18 acquisitions, a press release informs.

“This transaction is a first step in developing the medium cost network of the company, functioning under the brands Anima and Sfanta Maria, by means of acquisitions,” Mihai Marcu, MedLife President and CEO declared.

Ghencea Medical Center, with 10 years on the market, last year registered a turnover of RON 8.7 million, and for the current year aims at a 20 percent growth. The medical services provider has two clinics, in Bucharest and Magurele, with 135 employees, medical and support staff, providing the patients with a wide range of investigations for laboratory and imaging, specialized treatment in medical recovery and alternative medicine.

At the same time, Ghencea Medical Center is one of the relevant medical services providers under contract with The Bucharest Health Insurance House (CASMB), covering over 25 specialties, out of which family medicine, paediatrics, rheumatology, gastroenterology, neurology, cardiology, psychiatry, urology, dermatology and ENT, the release reads.

“The partnership with MedLife represents a major development opportunity for our business, on the one hand we will benefit from know-how in the medical and management areas, and on the other hand, we will offer our patients better medical assistance, both by diversifying the services offered and by the territorial coverage. Furthermore, due to this partnership, we will manage to close the circle of the services offered, thus the patients consulted by our family or specialty doctors can get hospitalized for surgery or for birth in the MedLife hospitals. This is probably the most important benefit we can provide to our patients, payers and subscribers, at the same time”, declared Dr. Gabriela Kubinschi, General Manager Ghencea Medical Center.

For 2017 MedLife reported a pro-forma consolidated turnover of RON 638 million, with a 27 percent growth compared to 2016 and an adjusted pro-forma EBITDA of RON 82.3 million. For the current year the company aims over 20 percent growth.