The administrative board of MedLife, one of the biggest private healthcare services provider in Romania, has announced that it would increase its credit limit by EUR 15 million, to which other company liquidities will be added to reach EUR 20 million that would be used to develop its national and international expansion strategy through acquisitions, according to news.ro.
The bank union through which the credit will be accessed includes BCR as coordinator, main arranger, facility and guarantee agent and financeer, BRD Groupe Societe Generale, Raiffeisen Bank and Banca Transilvania, as arrangers and financeers.
“We’ve managed to improve our margins and this allows us to grow sustainably and, at the same time, ensure an optimal balance between net debt and profit. The decline in the indebtedness rate encourages us to go to shareholders and ask for higher financing in order to continue acquisitions in Romania, Hungary and other neighbouring countries where we see important growth opportunities. We’re always prospecting and testing the market and we’re currently in talks with 5-6 operators in Romania and 2-3 others in Hungary and we hope to be able to make some transactions in the following period,” said Mihai Marcu, president and CEO of MedLife Group.
MedLife ended Q1 2019 with a consolidated turnover of RON 224.9 million, a 27.6 percent year-on-year increase. The company is listed on the Bucharest Stock Exchange.