MedLife receives EUR 40 million financing from IFC and BCR

Medical services operator MedLife announced it had received a EUR 40 million syndicated credit from the IFC and Banca Comerciala Romana BCR to finance a EUR 52 million investment program in between 2011 and 2015. 

The investment program is aimed at expanding operations and opening new medical units in Bucharest and throughout the country. At the end of the announced investment program, MedLife will be operating a network of 10 medical clinics, six large hospitals, ten laboratories, and 12 pharmacies.

“This project financed by IFC and Erste will allow MedLife to offer more medical service in the country, being a model by which private medical services providers take some of the burden off from the state system and make a positive impact in the health insurances budget with the resulting savings,” explained Ana-Maria Mihaescu, the head of the IFC mission in Romania.

MedLife reported a EUR 23.8 million turnover for the first six months of this year, up 37 percent from the EUR 17.35 million reported for the similar period of 2010.

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