MedLife announces a 27% increase in consolidated pro forma turnover in the first semester of this year

Miruna Macsim 25/08/2023 | 12:53

MedLife, the largest private medical services network in Romania and the industry leader announces its financial results achieved in the first semester of this year and reports a consolidated proforma turnover of EUR 222.1 million, a 27% increase compared to the same period of last year, out of which 12% represents organic growth. This robust performance demonstrates MedLife Group’s ability to remain at the top of the industry despite market signals indicating a potential slowdown in the medical market growth.

 

The pandemic generated significant changes in Romanians’ behavior towards health and MedLife has responded to the new needs by offering complete and integrated medical solutions. The great doctors of MedLife dedicate themselves with high professionalism to the mission of covering all aspects of the health of those who come to us, from prevention to diagnosis and treatment. Thus, beyond the highly complex services, we manage to bring confidence in a healthy future, and this keeps us among Romanians’ top choices“, stated Dorin Preda, Executive Director of MedLife.

With a strategic approach to operational development, all business lines of MedLife Group recorded robust growth between January and June 2023, the best performers being clinics (+41%), hospitals (+36%), and the corporate division (+13 %), followed by dental clinics and laboratories with growth rates of 11% and 9% respectively.

In terms of profitability, the Group records a slight decrease in the EBITDA margin, from 15.8% in the first semester of the previous year to 15.2% in the same period of 2023. However, a less pronounced seasonal decrease is noted in the second quarter compared to the first quarter of the year, in comparison to 2022. At the same time, there is also an increase in profitability compared to the second semester of the previous year, thus underlining the stability and positive direction of the Group.

In the first six months of this year, MedLife Group continued to strengthen its position as a leader in the private medical services market, maintaining the positive growth and the expansion trend. The Group’s strong performance is attributed especially to skilled and highly expertise doctors and to the fact that innovation, technology and digitization remain key elements for a sustainable and healthy development of the business. With regard to the short-term evolution of margins, no major changes are anticipated, but we are taking measures for positive adjustments in the upcoming period, thus confirming our commitment to a sustainable development”, emphasized Dorin Preda.

Perspectives on H2: consolidation of the largest network of private medical services in Romania

Looking ahead, MedLife is focused on consolidating its leadership position by continuing organic projects with a focus on expanding the hospital network in Bucharest, through ongoing work on the MedLife Park project and by opening new units in the Oltenia and Western regions. Although acquisitions are not a priority for the Group at this time, MedLife representatives do not exclude the possibility depending on market opportunities and development needs.

In our nearly three-decade evolution, we have grown from a company with 30 employees to the largest private healthcare network in the country with more than 10,000 people dedicated to our commitment to provide innovative and effective medical solutions to our patients. Next, as we mentioned at the beginning of the year, we are focusing on optimizing the operational flows and procedures within the group, in order to leverage economies of scale and the accumulated expertise of each unit. With the determination that characterizes us, in the coming months, we emphasize efficiency and the development of several ambitious organic projects, which will strengthen the largest network of clinics, laboratories and hospitals available at national level”, said Mihai Marcu, CEO of MedLife.

Currently, MedLife Group owns the largest network of private medical services in Romania with approximately 700 locations, both owned and partnered nationwide. Over 6 million unique patients have so far accessed prevention, wellness, treatment and hospitalization services in MedLife units, and over 800,000 employees benefit from medical services through MedLife subscriptions.

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