Medicover, an international company providing healthcare and diagnostic services has released the interim report for the first half of the year. The company reported a 24.6% revenue increase compared with the same period of last year to EUR 402.6 million. Medicover is active in Romania through both Healthcare and Diagnostic Services.
“The strong start to the new year continued also in the second quarter. Our strategy to grow private pay Fee-For-Service, both organically and through acquisitions, is being well executed in both divisions. Fee-For-Service represented 52% of total revenue for the quarter. We will continue to focus on operating efficiency, successful integration of our acquisitions and look forward to continued revenue growth,” said Fredrik Rågmark, CEO Medicover.
At group level, in the first half of the year the Healthcare Services revenues increased by 31% to EUR 211.5 million, compared with the same period of last year. A number of 26 new medical facilities were added in the first half 2019 reaching 200 at the end of the period. Also, the number of members reached 1.3 million at the end of the quarter, with growth of 13.5% compared to the same period last year.
Diagnostic Services also recorded higher revenues in the first six months, with a 18.4% increase to EUR 197.8 million. The total number of laboratory tests grew by 8,1% to 53.5 million (49.5 million). A total of 53 new blood drawing points (BDPs) opened during the first half year and the company is running a total of 614 BDPs across all geographies.
In Romania revenues increased in the first half of the year by 40.5% to EUR 59.3 million. The revenues in Romania represent a 14.7% share in the total revenues. Romania ranks third in the group’s revenue contribution after Poland and Germany.
Healthcare Services in Romania reported 83.8% higher revenues after the first six months from EUR 16 million to EUR 29.4 million revenues. The growth in Romania is underpinned by the transactions announced last year by the company, namely the Pelican hospital in Oradea, Phoenix Medical Centre in Oltenia region and Academica Medical Centre in Bucharest.
The Diagnostic Services in Romania reported total revenues of EUR 29.9 million in the first half of the year, 14.1% higher than last year. The growth is underpinned by the regional expansion, with the launch during this period of 10 blood drawing points and a modern laboratory in Ploiesti.
“The revenues from Medicover Healthcare Services in Romania had a strong growth in the first half year. We have a record number of patients in all our businesses. The growth in Fee-For-Service proves that more and more patients are choosing our services due to our excellent patient experience. We will continue to invest to provide patients with the best experience, with a focus on digitalisation. We have already launched and will continue to implement in our clinics services such as e-Reception or Medicover Express,” said Adrian Peake, General Manager Medicover Romania.
“In the first half of the year, we expanded our portfolio tests, especially on the genetic segment. This year, the new Integrated Cobas Analyzer line from the Central Reference Laboratory is also operational, allowing a record number of tests to be performed, around 8,000 tests per hour, with maximum accuracy. We continue the territorial expansion plan, by opening ten blood drawing points in the first half of the year, currently having a national coverage of over 85%, aiming to be present in all counties in Romania,” said Laurențiu Luca, General Director Synevo Romania.