Medicover completes acquisition of Phoenix Medical Center

Newsroom 16/10/2018 | 10:36

Medicover has completed the acquisition process of the Phoenix Medical Center, a network of eight private medical units offering services in the Oltenia area.

As a result of this transaction Medicover expands its presence in a region with a high potential for growth. This is the third largest transaction of the Swedish group in Romania this year after the Pelican Hospital in Oradea and the Academic Medical Center in Bucharest.

Phoenix Medical Center is a private medical provider in Oltenia, which has a network of eight medical centers in Craiova, Targu Jiu, Slatina, Calafat and Dragasani.

”This year is very important for the development of Medicover Romania. We managed to enter a strong presence in two key regions in Romania, namely the Northwest by purchasing the Pelican Hospital and the Southwest by purchasing the Phoenix Medical Center. Moreover, we have found here ideal partners who have set a solid foundation on which we can grow together in the near future. In both cases, the doctors who founded these medical networks want to remain part of the Medicover team, to develop these networks and to provide medical services at the highest level, ”says Adrian Peake, general manager of Medicover Romania.

Medicover, an international provider of medical and diagnostic services, reported total revenues of EUR 323 million in the first half of 2018. Romania is one of the main markets that Medicover operates through the Medicover medical network and through its laboratories and centers harvest Synevo. Romania’s Medicover and Synevo revenues grew by 17.2 percent in the first half of the year to EUR 42.2 million.