CMU posts 37 percent growth in revenues in Q1, 2010

Unirea Medical Center (CMU) posted a growth in revenues of 37 percent in the first three months of the year, to EUR 4.713 million. During the same period in 2009, the center made EUR 3.424 million. Imagistic services increased by 71 percent, the fee for service segment by 64 percent and surgical interventions 41 percent. In March alone, the number of surgical interventions hiked by 75 percent from the March before.

The most important growth, of 114 percent, was that of the CMU Regina Maria maternity unit, where the number of surgical interventions in the gynecology department increased by 346 percent. The maternity ward, which opened in December 2008, represents the largest investment made by the medical center, at EUR 5.5 million. A growth of only 10 percent was posted in the corporate sector due to the recession and subsequent shrinkage in compensation and benefits.

“2010 will be critical for starting investment plans in the new shareholding formula. On the one hand, there are consolidation opportunities on the market that we hope will bear results; on the other hand, we are initiating more greenfield investments that will be up and running in 2011. Over the next few months, with the opening of a new large-scale clinic in Bucharest and following the expansion of the Arcul de Triumf hospital, we will maintain the accelerated growth of the retail segment, so that by the end of the year it will surpass the revenues from corporate subscriptions,” said Sergiu Negut, deputy general manager of CMU, of the strategy of the company.

In March, the CMU shareholders sold an 80 percent stake to the investment fund Advent International. The remaining 20 percent remained under the control of Doctor Wargha Enayati, founder and general manager of Unirea Medical Center.

Last year, CMU opened its 11th clinic in Bucharest, as well as a stem cell bank. In Constanta, it added a third clinic called CMU Avamedica, in Cluj a second clinic called CMU Pasteur and in Ploiesti a new clinic equipped with an eye surgical unit. CMU also invested EUR 1 million in CIM Bacau.

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