Local market boosts Medicover revenues by 18 pc in H1. Medicover Romania reached revenues of EUR 36 M

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During January-June 2017 period, Medicover Group, Swedish healthcare and diagnostic services provider, achieved an increase in revenue of 18 percent in Romania, to EUR 36 million (compared to EUR 30.5 million in the first half of 2016, as a press release informs.

Moreover, according to Fredrik Rågmark, CEO of Medicover, the group’s Healthcare Services reported good growth for the second quarter supported by favourable market development in Poland and Romania.

Medicover is represented on local market by Medicover Romania and Synevo Romania .

“We have had a dynamic 2017 so far, as we continued to expand our presence in Romania, with the development of the clinic in Oregon Park Bucharest, and the acquisition of the Iowemed medical network in Constanta county. Our main long-term objective remains to bring top quality healthcare to as many Romanians as possible, and the first half of the year has certainly been beneficial in this sense,” Adrian Peake, General Manager of Medicover Romania also pointed out.

For the first half of the year, the group’s Healthcare Services division (represented in Romania by Medicover Romania’s clinics and hospital) recorded an increase in revenues of 15.1 percent, to EUR 137.8 million. A favorable employment market combined with continued good economic development are driving regional healthcare growth and revenue in the employer funded business, representing approximately 2/3rds of the growth. The self-pay business in both Poland and Romania grows at a faster rate but from a smaller base, making the other 1/3rd of the growth.

Furthermore, in the first half of the year, the Diagnostic Services division (represented in Romania by Synevo) recorded revenues higher by 20.6 percent, at EUR 150.6 million. Laboratory test volumes grew by 12.5 percent to EUR 63 million. Again, the economic situation supported growth, with the established businesses developing well in all markets, including the German laboratory activity.

“We’ve had a positive start this year, as we continued to develop our national network by opening 5 new Blood Drawing Points in the first six months of 2017,” Laurentiu Luca, General Manager of Synevo Romania added.

At group level, Medicover reported a consolidated revenue increase of 17.8 percent in H1 of 2017 compared to the first half of the previous year, to EUR 283.5 million, according to its first financial interim report as a listed company



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