Medicover buys the healthcare provider Phoenix Medical Center

Newsroom 07/08/2018 | 14:01

Medicover has signed a procurement contract for the Phoenix Medical Center, one of the top healthcare providers in the Oltenia area. The acquisition is part of the Medicover Group’s expansion strategy, thus creating a strong presence of the company in the Southwestern region of Romania.

”This acquisition marks an important milestone for Medicover, helping to increase its presence in the Southwestern region of the country. We’ve been studying this area for some time, and we’re glad we found the right partner at the Phoenix Medical Center. We now have a strong network and can provide medical services to the highest standards of many people. This is the third acquisition of the last six months. We will continue our growth strategy, both organic and through acquisitions,” said Adrian Peake, general manager of Medicover Romania.

Phoenix Medical Center is a private medical provider in Oltenia, which has a network of eight medical centers in Craiova, Targu Jiu, Slatina, Calafat and Dragasani.

”Over the past nine years we have constantly invested in providing our patients in the region with the best medical services. With a strong partner like Medicover, we can continue our development in the region much faster and continue to improve service quality, ”said Ionut Silviu Vasile, general manager, Phoenix Medical Center, stated.

Once completed, this will be Medicover’s third major transaction in Romania in 2018. In the first half of the year, Medicover announced the acquisition of Pelican Hospital in Oradea, followed by the acquisition of the Academic Medical Center in Bucharest.

Medicover, an international provider of medical and diagnostic services listed on the Swedish Stock Exchange – Nasdaq Stockholm, recently reported a 17.2 percent increase in Romania’s revenues from the first half of 2018, which amounted to EUR 42.2 million.

Medicover is present in Romania through the Medicover hospitals and clinics network and the Synevo laboratories and harvesting centers.

Law firm Popovici Nitu Stoica & Asociatii assisted Medicover on the acquisition.

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