MedLife reports a turnover of RON 1.66 billion in the first nine months of the year

MedLife, the largest private medical services network in Romania, presents the financial results for the third quarter of the current year. Thus, in the first nine months of the year, the company recorded a pro forma turnover of RON 1.66 billion, an increase of 25.4% compared to the same period last year. This consistent growth demonstrates the Group’s ability to remain one of the most important players in the market and adapt to any context

Solid performance across most business lines

By offering quality services and a portfolio of highly performing doctors, MedLife has managed to maintain the market share with a constant growth in all regions of the country. Despite high inflation and increased consumer costs, the Romanian company recorded in Q3 2023 a double-digit growth in most sectors of activity. Thus, the main divisions of the Group that experienced significant growth during theJanuary – September 2023 period, compared to the same period last year, are the clinics with a 36% increase, hospitals with a 28% increase, the corporate division with a 16% increase, and laboratories with a 12% increase. The company’s gradual shift in recent years from preventive services to hospital and oncology services has resulted in greater resilience for the Group, regardless of the macroeconomic situation.

Regarding the financial performance, MedLife reports an improvement of the EBITDA margin in Q3 compared to Q2 of this year, highlighting the stability and positive direction of the company, despite new units putting pressure on the group’s profitability, but, in the same time, laying the foundation for future growth.

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These positive results were driven by the professionalism of the highly skilled doctors within the group and the decision to consolidate the largest private medical services network in Romania through the development of the organic projects.

Thus, at group level, the third quarter was marked by the opening of two new oncology centers in Brăila and Vâlcea under the Neolife umbrella. This expansion was accompanied by other significant investments in oncology, including the acquisition of radiotherapy equipment and the modernization of existing equipment in Brașov and Sibiu.

Additionally, the company continued to strengthen the hospital division through considerable investments in units such as the Nord Pipera Hospital, scheduled to be inaugurated at the end of November. With an impressive infrastructure, the new hospital will cover top-notch cardiac surgery, interventional procedures, and cardiology, with a particular focus on oncology.

In addition to developing the oncological infrastructure, MedLife has invested in state-of-the-art equipment in numerous hospitals across the country, such as Medical Park in Bucharest, Humanitas in Cluj, MedLife Hospital in Brașov, and Polisano in Sibiu, thereby enhancing medical capabilities in these units.

“The evolution of the MedLife Group reflects the continuous and sustainable growth of the financial performance and of our operational activities. Carefully evaluating the market, we observe sustained consumption of MedLife medical services, even if on the local market the growth rates are not as high as in previous years. Our strategic decision to invest in oncology and hospitals, sectors less affected by economic fluctuations, underlies our optimism that we will fully reap the rewards of our investments in the coming years. We remain steadfast in our commitment to performance and towards pacient needs, fulfilling the constant changing needs of the market,” stated Mihai Marcu, President and CEO of MedLife Group.

Future Perspectives: completion of investments targeting organic development and technology

Regarding the outlook for the upcoming future, the company continues to focus on consolidating profitability margins after big investments in organic projects. Regarding acquisitions, MedLife adopts a more cautious approach but acts based on current market circumstances and trends.

The strategic priorities of the Group representatives include the upcoming inauguration of the Nord Hospital, followed by the continued development of the MedLife Park project and the opening of new medical units in the Oltenia region and the western part of the country

At the same time, the company reaffirms its commitment to provide the best doctors, to continue to invest in technology and digitization, believing that the future of medicine lies in adopting the latest innovations, improving the medical platform, and providing personalized treatments.

From an operational perspective, the main objectives include expanding the portfolio of quality doctors and sustained investments in delivering high-quality medical services, with a priority on patient satisfaction and health.

Currently, the MedLife Group owns the largest diagnostic and treatment network in Romania. Over 6 million unique patients have accessed prevention, wellness, treatment, and hospitalization services in MedLife facilities, and over 800,000 employees benefit from medical services subscriptions through MedLife memberships