One of the most important transactions of the year in the Romanian medical market is the takeover by the Turkish operator, Memorial Healthcare, of the Monza Oncology Hospital within Enayati Medical City.
Just one year after its opening, with its renowned medical staff and state of the art infrastructure, the Monza Oncology Hospital has become a target for the Turkish Hospital Operator, which now enters the Romanian market with a successful acquisition! Enayati Medical City, the first medical ecosystem in Romania, opened in 2021 in the north of the capital, made a promise to become the medical destination for Romanian patients who need top treatments and care without leaving the country. In the spirit of this promise, one of the most famous and sought–after health systems in Turkey, Memorial Healthcare, will now operate in Enayati Medical City, through a strategic and long–term partnership with Enayati Medical City and Monza Group. The financial success of the Medical City, which started with an initial investment of 65 million euros and which predicts a spectacular turnover already in 2022 of over 35 million euros, represented one of the attractive elements for the entry of the Turkish concern into the Medical City, increasing its value by over 25%.
Dr. Wargha Enayati: “We are delighted that oncology in Romania will receive an infusion of remarkable quality from the partner Memorial Healthcare from Turkey, which chose to enter the Romanian market in the medical city of Enayati Medical City. The most valuable assets that Memorial will bring to the Medical City is the digitization of the medical process, which will lead to an increase in the quality of the medical act both from the perspective of the patient and the medical team, but also the improvement of the patient experience – patient journey, a deficient area in our country. I am a man of medical firsts in the Romanian system and I am happy to mark another one that will have the greatest benefits for the Romanian oncology patient. I want to thank the partners from Monza for the collaboration of the last year and a half, because they believed in this project and achieved the financial and medical performances that led to today’s premiere”.
Monza Group CEO Luca Militello: “One year after the opening of the Monza Oncology Hospital, after having successfully treated over 40,000 patients, with an average of over 70 surgical interventions per week, I felt the need to accept Memorial Healthcare‘s strategic partnership proposal to improve the activity of the oncology hospital, raising the level of expertise. Patients will continue to receive the exceptional quality they are used to, in parallel with access to new technologies and treatments. Oncology Department, Breast Institute, NeuroHope, Urological Surgery Center, Gynecology Center, DaVinci Center, Oncological Surgery Center, Thoracic and Robotic Surgery Center, Endometriosis Center and Endomedical Academy, as well as the Radiology Center and Medical Imaging, along with the partnership in the area of radiotherapy and nuclear medicine with Neolife and those with Ares for interventional surgery, will remain stable and will also develop. The main beneficiaries of this partnership are the medical teams and the patients, and I am convinced that the following years will transform the Oncology Hospital in Enayati Medical City into an oncology reference center to which patients from all over Europe will come. “
Under the slogan “Your health is precious”, Memorial enters the Romanian market as the sole owner of the Oncology Hospital in Enayati Medical City and bringing with it the expertise of a team of over 1200 doctors from the 11 hospitals. Serving its patients for more than 22 years, Memorial has such credentials as the first JCI accredited hospital of Turkey, as well as the first LEED Platinum certified hospital in Turkey. Annually, over 3 million patients are treated in Memorial hospitals from all over the world, including Romanian patients who travel to Turkey for treatment.
Memorial Healthcare CEO Uğur Genç: “We have been observing the developments in the Romanian Healthcare system for a long time and we are happy to help contribute to the progress of this system together with all stakeholders. We are very excited to enter the Romanian market with a hospital that has such strong doctors and a great medical infrastructure. We have been very successful in Turkey thanks to our core values: Quality, Ethics, Patient Experience and Employee Satisfaction. That is also part of the reason why we have had thousands satisfied Romanian patients treated in Turkey. We will continue to apply the same values in our new hospital in Bucharest. Memorial plans to become a world brand with many hospitals throughout the world, and we chose Romania as the first country to invest in, because we believe in the Romanian Healthcare System. Together with our doctors, we will apply our know–how and our values to better serve our patients. I am very happy and proud to announce this new investment and look forward to serving our patients at world standards whom we promise to treat as our family members.”
Memorial Healthcare was assisted by an integrated team of PwC Romania & D&B David si Baias lawyers and consultants, including corporate finance / lead–advisory, transaction support, legal and tax support capabilities performed throughout the entire transaction process. The Sellers were assisted by Dan Doroftei (healthcare business consultant) and the lawyers’ teams of Cumpănașu şi Asociaţii and Braşoveanu, Cernat şi Asociatii.