MedLife becomes majority shareholder of Panduri Medical Center

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MedLife, one of the most important players on the domestic market of private healthcare services, signed the takeover deal of Panduri Medical Center majority stake, 90 percent respectively, a press release informs on Thursday.

Following this transaction, Maria Pop, founder and general director of Panduri Medical Center, will keep the management duties and will be directly responsible for development strategy and expansion of the center.

Panduri Medical Center ended 2015 with a turnover of over EUR 1.9 million and expects to record a 20 percent growth. The Center owns two labs and two clinics in Bucharest.

Also, the private healthcare clinic is in advanced talks to achieve another five transactions, of which one is for medium to large size. In this context, in the future, the healthcare operator wants to increase the investments allocated to procurement projects, and announces its intention to contract a new loan.

“We are in advanced talks with several banks, so we think that in September we will take out a new loan worth EUR 20 million (leveraged buyout – LBO),” Mihai Marcu, President of MedLife’s Board, stated.

For the first half of this year, MedLife posted a turnover of EUR 58.72 million, up by 32.7 percent over the same period in 2015.

MedLife officials say that more than 20 percent of the increase of 32.7 percent in H1 is an organic growth, while the remaining of 12.7 percent was obtained through acquisitions.

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