MedLife, the biggest private healthcare operator in Romania, plans to list its shares on the Bucharest Stock Exchange. The initial public offering (IPO) is expected to be completed by year-end 2016, subject to market conditions and the approval of the prospectus by the Romanian Financial Supervisory Authority (ASF).

Investment fund V4C Eastern Eastern Europe Holding V Limited and the International Finance Corporation (IFC), part of the World Bank, plan to sell 44% of the company’s shares. Private equity V4C Eastern Europe will thus mark its exit from MedLife. The fund currently owns a stake of 36.25% in the company.

Value4Capital announced its decision to exit the company in the last half of 2015, but hasn’t managed to mark its exit until now. IFC will also reduce its holding, which is currently 12.75%.

The majority stakeholder, the local family Marcu, will not sale any shares. They will continue to own 51% of the titles in the company. The company won’t sell any additional shares to raise money.

Raiffeisen Bank has been appointed as Lead Global Coordinator and Lead Joint Bookrunner for the Offering. Czech brokerage firm Wood & Company has been appointed Co-Global Coordinator and Joint Bookrunner.

MedLife operates 36 clinics, 8 generalist and specialized hospitals, 24 labs, 9 pharmacies, 8 dental clinics. It has some 1,900 doctors and 1,100 nurses.

The group estimates a turnover of EUR 120 million this year, up from EUR 88 million in 2015. In the first nine months of 2016, MedLife had sales of EUR 80.8 million and an operating profit (EBITDA) of EUR 8.7 million.

Romanian healthcare operator MedLife buys 90% stake in local medical center

editor@romania-insider.com