AGISTA Research: Only half the Romanians in need of medical recovery services are currently undergoing specific treatments

Only half of the two million Romanian patients in need of some form of medical recovery each year receive specialized treatment aimed at restoring mobility and independence, according to conclusions drawn from an analysis conducted by the AGISTA growth investment fund. The fund recently acquired a minority stake of over 30% in Centrokinetic, one of the most highly regarded orthopedic and medical recovery clinics in Bucharest.

The reasons why approximately one million Romanians do not have access to medical recovery stem either from long waiting lists, outdated equipment and procedures in state-managed clinics and hospitals, or from the insufficient number of private clinics that can provide quality services to patients.

“From our research, approximately 60-70% of those undergoing medical recovery use services provided by state-owned clinics and hospitals, while the remaining 30-40% are patients treated in private centers, a number that is steadily increasing. Moreover, the private medical recovery market in Romania is highly fragmented, with around 400 operators, out of which 100 are located in Bucharest alone. There are numerous recovery clinics in other major cities of the country as well, such as Cluj-Napoca or Timișoara, where we identified approximately 30 such clinics,” says Dragoș Dărăbuț, Senior Investment Manager at AGISTA.

Physical therapy is based on evaluating the patient’s motor function and prescribing physical activities to treat and rehabilitate the human body. According to the College of Physiotherapists, the recovery market is divided into physiotherapy, physiokinesiotherapy, kinesiotherapy, and balneokinesiotherapy. These forms of therapy are recommended at any age, encouraging patients to manage their conditions and regain mobility and independence, even after completing physical therapy treatments.

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“In Romania, every year, there are approximately 2 million patients in need of medical recovery. Whether we are talking about patients who have undergone surgeries, those who have suffered severe or minor injuries, patients with chronic conditions, or those who have received specific diagnoses, only half of them benefit from a period of medical recovery. At Centrokinetic, we aim to provide as many patients as possible with access to proper medical recovery and, alongside AGISTA, we are confident that we will achieve this goal,” says Bogdan Andrei, Medical Director and founder of Centrokinetic.

AGISTA recently joined Centrokinetic as a strategic development partner, bringing substantial expertise in business scaling to the table. Their goal is to transform the clinic network into a regional leader in the field of medical recovery, working alongside its founder, Dr. Andrei Bogdan, and his entire team.

The transaction confirms AGISTA’s mission to invest capital in minority stakes in Romanian companies with the potential for regional scaling.

Founded in 2016 by Dr. Andrei Bogdan, the Centrokinetic network of medical clinics surpassed a turnover of 4.5 million euros last year, with an EBITDA of 600,000 EUR.

Centrokinetic offers a wide range of medical recovery services for adults and children, featuring a team of over 110 specialized doctors and therapists in orthopedic and neurological conditions. The organization operates three clinics located in Bucharest.

AGISTA, the growth investment fund currently under authorization by the Financial Supervisory Authority, a brand launched by Impetum Group, supports Romanian SMEs whose products and services are essential or becoming essential for society, providing them with both capital and know-how. Operating as a minority shareholder, AGISTA invests tickets ranging from 2 to 5 million EUR and acts as an anchor investor, playing a strategic role with a representative on the board of portfolio companies, contributing to their rapid and healthy development. Through a partnership with AGISTA, companies gain access to tailored solutions, guidance and networking.

AGISTA invests across various sectors, with a primary focus on industries such as IT&C, healthcare, recycling and agritech. Since its launch, AGISTA has invested in Centrokinetic, Bittnet Group, Eplus Smart Energy, Dendrio Solutions, GRX – recently rebranded as FORT – and Top Tech.