Medicover Romania posts 41.2 pct revenue growth in Q1 2019

Swedish private healthcare provider Medicover, which operates in Romania through the Medicover clinic and Synevo laboratory networks, posted a global revenue growth of 23.3 percent in the first quarter of 2019 compared to the first quarter of the previous year, to EUR 199.7 million.

At group level, in Q1 2019, the Medical Services Division recorded a 28.1 percent revenue growth to EUR 102.9 million and 1.2 million subscriptions, a 14.5 percent growth compared to the same period of 2018. The Diagnostic Services Division had its revenues increase by 18.7 percent in Q1 2019, to a total of EUR 100.2 million.

On the Romanian market, total revenues in Q1 2019 increased by 41.2 percent to EUR 29.9 million. The growth is partly based on the company’s 2018 acquisitions – the Pelican Hospitals in Oradea, the Phoenix Medical Centre in the Oltenia region and the Academica Medical Centre in Bucharest.

Revenues obtained in Romania represent 14.9 percent of Medicover’s total revenues. Romania is the third country in the company’s portfolio by revenue share, after Poland and Germany.

“The evolution of revenues in the first three months of this year demonstrate our patients’ trust in the quality of services offered by Medicover in Romania. We also opted for the development of several excellence centres that have a multidisciplinary approach to specific medical issues. This year we launched the Endometriosis Treatment and Diagnostic Centre and the Laser Centre for dermatological treatments. I believe that the future of medicine will be driven by the development of excellence centres which, by attracting the best specialists in certain medical areas, can provide answers for a wide range of conditions. We will continue to invest in innovation, digitalisation and improving patient experience,” said Adrian Peake, the general manager of Medicover Romania.

“Synevo’s results in Romania reflect investment levels in growing digitalisation and improving patient experience. We also managed to maintain a constant pace for territorial expansion, providing easy access to highest quality lab services to an increasing number of patients. The portfolio of tests and services has grown, especially for advanced segments such as genetic tests,” said Laurentiu Luca, the general manager of Synevo Romania.