MedLife, the leader of the private medical services market in Romania, announces the Group’s financial results for the first quarter of this year and reports a pro forma consolidated turnover of RON 555.5 million, an increase of 33% compared to the same period last year.
According to company representatives, the gradual results of the Group reflect the constant and sustainable development over time of financial, operational and business performance.
“Since the beginning of the year, we have demonstrated determination in implementing our development strategy, and the results reflect the sustained efforts of over 10,000 MedLife employees and collaborators who provide top medical services to patients, as well as the management team which, for almost three decades, has been agilely managing the various challenges generated in the socio-economic context. For the upcoming period, we are focusing on the gradual consolidation of MedLife Group, investing in sustainable business development. We are consolidating operations, the newly acquired companies, the brand value and, implicitly, the leading position in the private medical field, so as to ensure a strong position on the local and regional market, with a rapid capacity to adapt to any new market trends and requirements,” stated Mihai Marcu, Chairman and CEO of MedLife.
A quarter characterized by good performance across all business lines
In general terms, the demand for medical services remained at a high level. In the January-March 2023 period, most of the business sectors recorded significant growth compared to the same period in 2022, with the most performing being the clinics (+49.2%), hospitals (+26.4%), and corporate (+12.7%) sectors, followed by dental clinics (+26.5%) and laboratories (+2.2%).
Since the beginning of the year, the optimization and integration of the 13 companies acquired in 2022 have been and remain essential for MedLife representatives. Additionally, among the achievements obtained in the first months of this year are the consolidation of the hospital network following the completion of Muntenia Hospital acquisition, the largest private hospital in Arges, as well as the inauguration of the Hyperclinic in Deva, the largest clinic in Hunedoara county.
Also notable is the completion of the acquisition of the majority stake in Nord – Provita Medical Group, which owns a multidisciplinary hospital, 5 clinics, 2 imaging centers equipped with state-of-the-art equipment, a laboratory for processing a wide range of medical tests and analyses, as well as the only pain therapy training center in Central and Eastern Europe.
Additionally, in its efforts to support the development of healthy businesses in Romania, MedLife has become the first private medical operator to offer medical subscriptions with 360° coverage – from prevention services to health insurance, dental services, and fitness.
“360° health is our holistic approach to the healthcare system, which means that we aim to bring benefits not only to individual patients but also to companies and the economy as a whole. By promoting prevention, accessibility, and quality of medical services, we continue our mission to make Romania healthier”, stated Dorin Preda, MedLife’s executive director.
Goals for the current year
After expanding through no less than 20 development and expansion projects in 2022, MedLife Group’s focus in 2023 will be on consolidating post-acquisition profitability margins nationwide. Regarding new acquisitions and expansion initiatives, company representatives have adopted a less dynamic approach, acting in this direction according to the context and market trends.
Operationally, strategic objectives include increasing the portfolio of doctors and investing in the highest quality medical services, as well as patient satisfaction. Additionally, the company continues to develop the MedLife Medical Park project, the largest medical unit of the Group, and, in parallel, aims to inaugurate new outpatient medical units in the country.