Centrokinetic, the largest network of medical rehabilitation clinics, is expanding to the western part of the country

The growth investment fund AGISTA has supported Romania’s largest medical rehabilitation chain, Centrokinetic, in acquiring the eighth clinic in the company’s portfolio, Socrates Clinic in Timisoara. The transaction is strategic, opening several opportunities for Centrokinetic’s expansion in the western part of the country. AGISTA completed its entry into Centrokinetic’s shareholding in the fall of 2023, acquiring a stake of over 35% in the medical chain, with the clear objective of supporting the development of the clinic network and assisting its expansion with at least 10 clinics over the next four years.

In just seven months, the Centrokinetic network has already expanded with 5 clinics nationwide, now owning 4 clinics in Bucharest, 2 in Brasov, one in Cluj-Napoca, and 1 in Timisoara.

“I believe in quality medical services and I think that when people with talent and passion for a certain field meet, they can do extraordinary things. So, this time, I am very pleased that the founder of Socrates Clinic, Mr. Armand Gogolescu, who built this clinic from scratch and turned it into the best medical recovery center in Timisoara, remains our partner. We want to continue in Timisoara with the same dedication we have already shown in the other Centrokinetic clinics, with quality services and equipment, so that our patients can recognize the Centrokinetic quality standard in any clinic they are treated in,” says Bogdan Andrei, founder and Medical Director of Centrokinetic.

The concluded transaction stipulates that Centrokinetic will reach almost 70% ownership of the clinic’s shares, with one of its founders, Dr. Armand Gogulescu, retaining just over 30%. The near-term plans for the clinic in Timisoara include improving the business by acquiring new equipment (especially MRI) and hiring more doctors, with Centrokinetic also investing capital in Socrates Clinic.

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“This acquisition is part of the strategy agreed together with Centrokinetic management – namely national development, equally balanced with maintaining or even improving the quality of medical services provided. We are glad to have contributed to the completion of this acquisition for several reasons: on one hand, because we are talking about one of the best medical recovery clinics in Timisoara, and on the other hand, because this acquisition also opens up other expansion opportunities in the western part of the country,” says Dragos Darabut, Senior Investment Manager at AGISTA.

In this transaction, AGISTA contributed to negotiation, legal and financial due diligence, execution and coordination, and the actual closing of the transaction. Along with AGISTA, Mazars Group worked on the financial services side, and Filip & Company provided legal services for this transaction.

“I created Socrates Clinic with the desire to offer Timisoara’s residents quality medical services in their city. The association with Centrokinetic came from the realization that we share common values and principles, which, we hope, will take us to the next level of growth,” said Armand Gogulescu, founder of Socrates.

The growth investment fund AGISTA, in the process of being authorized by the Financial Supervisory Authority, a brand launched by Impetum Group, supports through capital and know-how those Romanian SMEs whose products and services are or become essential for society. Acting as a minority shareholder, AGISTA invests tickets between 2 and 5 million euros and acts as an anchor investor with a strategic role, having a representative on the board of portfolio companies and contributing to their rapid and healthy development. Through partnership with AGISTA, companies benefit from customized solutions, guidance, and networking, having a growth partner looking towards transformation into a regional champion.