Private healthcare services provider MedLife said Tuesday it has bought a majority stake in Romanian dental clinics group Dent Estet, for an undisclosed sum.

Mihai Marcu, president of MedLife’s board of administration, said the Dent Estet was one of the niched businesses in Romania which had a growth strategy right from the start.

“In the next period we want to extend the Dent Estet group by at least one to two units yearly, as we are aiming to turn dentistry in one of the six business lines of MedLife, alongside the hyperclinics, laboratories, hospitals, maternities and pharmacies,” said Marcu in a statement.

Following the acquisition, Oana Taban, the founder and managing partner of Dent Estet, will keep her management positions and will head the new dentistry arm of MedLife.

Dent Estet reported a turnover of EUR 5.5 million in 2015, up 20 percent over the previous year. The group has six clinics in Bucharest and one in Timisoara. It was founded in 1999.

The deal is pending the approval of the Competition Council.

MedLife has put aside EUR 10 million for acquisitions

MedLife has rolled out an aggressive acquisition strategy, which included the take over a steam cell bank and of the Diamed chain of clinics and laboratories.

Marcu said that MedLife has closed 9 deals to date and that the company is currently negotiating deals with 4-5 healthcare operators. He added the company want to seal deals worth more than EUR 20 million in the next 18 months.

MedLife has reported a combined turnover of EUR 101.5 million last year and forecasts a 30 percent growth for this year.

“2016 has started in a promising way and on this backdrop we estimate an organic growth of 20 percent, on top of which we will add acquisitions of at least EUR 10 million. We don’t exclude larger acquisitions, and in this case we will adjust our turnover accordingly,” said Marcu.

Law firm Popovici Nitu Stoica & Asociatii assisted MedLife on the acquisition. Dent Estet got bpv Grigorescu Stefanica.

Ovidiu Posirca

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