German group Synlab, which provides medical laboratory services in Romania, has bought the medical test laboratories owned by the local group Romgermed, reports Profit.ro.

Romgermed, which is controlled by local businessman Sam Dorian Schwartz, has a network of 21 laboratories in the country, which it owned via six companies.

Synlab has been active in Romania since 2005 and has had 3 own laboratories and 9 collection centers in Bucharest, Iasi, Cluj, and Brasov. Last year, it had a turnover of about EUR 3 million, up 20% compared to 2013, and a loss of about EUR 52,000.

In July this year, the Synlab laboratories increased their capital by EUR 1.5 million. The six companies Synlab bought from Romgermed had a turnover of some EUR 1.1 million in 2014.

Romgermed also owns four medical centers in Bucharest and Constanta.

editor@romania-insider.com