MedLife enters ambulatory medical services market in Arges, acquiring Solomed clinic network

MedLife continues to accelerate its expansion and development plan and announce a new acquisition, marking the entrance to the ambulatory segment in a new area of Romania.

Romania’s largest private medical operator bought the 80 percent majority stake in Solomed, a group of medical services clinics present on the Arges County, a press release informs.

The Solomed Group was set up in 1997 and is one of the leading local medical operators in the region. The group consists of five clinics – three in Pitesti, the other two in Costesti and Curtea de Arges – and a laboratory (Pitesti), offering patients a wide range of investigations from multidisciplinary consultations for a range of over 15 medical specialties and laboratory services, to CT investigations, ultrasounds; medical recovery services and small laser interventions. These medical units are equipped with state-of-the-art medical equipment and have a medical team with over 90 specialists.

According to the representatives of the acquired clinic group, Solomed registered in 2017 a turnover of approximately EUR 5.2 million.

 ”In this way, we contribute to the development of the local healthcare market, offering to the inhabitants of Pitesti and the surrounding area the access to integrated services, to the highest standards, and to the tens of thousands of clients in the companies the possibility of having personalized subscriptions. In the future we will continue to strengthen our position at national level through both acquisitions as well as green field projects”, said Mihai Marcu, President and CEO of MedLife.

The acquisition of Solomed’s majority stake represents the 19th acquisition performed to date by the MedLife group, the latter being announced in February this year – Ghencea Medical Center in Bucharest. MedLife reported a pro-consolidated RON 638 million turnover in the year 2017, up with 27 percent as compared to 2016 and an adjusted EBITDA pro-forma of RON 82.3 million. For this year, the company is targeting an increase of over 20 percent.

“We are glad to become part of the largest operator on the medical services market in Romania. For us, this partnership represents a great opportunity for business development, an important step in the company’s evolution through the integration of processes, benefiting from know-how in the medical and management area, and at the same time, we will continue to provide patients with better healthcare. At the same time, this partnership offers us the opportunity to enter a new market segment expanding at the local level – the medical subscription segment”, MD Cristian Stefan Lamba, General Manager of Solomed stated.