MedLife will invest EUR 45mln by 2013, is negotiating 3 new acquisitions

MedLife is currently in negotiations for making three acquisitions outside Bucharest, one of which may be concluded before the end of the year, which may push the operator’s turnover above the estimated value.

In December, we intend to make an acquisition worth millions of EUR which will up our turnover over EUR 40 million and also widen the gap between MedLife and its two competitors who are running up for second place on the market: CMU and Medicover,” said Mihail Marcu, president of the MedLife administration board.

MedLife revised its turnover expectations for this year at EUR 40 million, which represents a growth of 30 percent compared to the results reported in 2009.

Next year the operator intends to open more than 15 hospitals, clinics and pharmacies and supplement the investments for the next two years to a value of EUR 45 million.

 Also next year, MedLife plans to grow its turnover by at least 40 percent and continue the business consolidation plans in Bucharest and the rest of the country.

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“2011 will be a very dynamic year for MedLife. We will open other 3 hospitals, at least 4 treatment units and we will expand our chain of pharmacies to 10 units so that at the end of next year we will have 2,000 employees. Currently, we have under way an investment program of EUR 20 million but because we wish to initiate other large span projects we will supplement the investment program with other EUR 25 million,” said Marcu.

The market of private medical services will become more dynamic due to two important factors: the introduction of co-payment and the 50 percent cut in the state budget for the healthcare system. “Consequently, the value of the market could reach half a billion EUR next year,” said MedLife representatives. 

Otilia Haraga