MedLife profits down from 2021 after making a dozen acquisitions this year
Private healthcare services provider MedLife recently released its performance numbers for the past nine months. The company registered a net profit of RON 56.8 mln (EUR 11.64 mln), a 40% drop relative to last year, and is set to enter a period of consolidation after an aggressive expansion.
MedLife has recently completed a string of 13 new acquisitions in less than 9 months. The acquired companies and clinics brought the group’s consolidated turnover to RON 1.3 bln (EUR 266.4 mln). The figure does not include two major acquisitions, namely the Muntenia Hospital and the Provita Group, currently on track to be approved by the Competition Council. The group acquired clinics or companies in ophthalmology, oncology, and wellness.
MedLife invested in territorial expansions, but also digitalization, new equipment, and innovation.
The healthcare provider also organically developed 7 new units over the same period, among which three dental offices under the Dent Estet brand, two large-sized clinics (so-called hyperclinics) in Târgu Mureș and Deva, and smaller units in Arad, Târgoviște, and Craiova.
Considering the cost of its acquisitions and the ongoing energy crisis and the high inflation rate, MedLife is set to enter a period of consolidation. “We will act cautiously, depending on the context and market trends. It is only natural that after the accelerated expansion of the last few months there will be a period of settling down and consolidation at the group level,” said president and CEO of MedLife Group, Mihai Marcu.
MedLife is one of Romania’s leading private medical services providers. The group currently operates 700 locations nationally, including through partners.
(Photo source: MedLife)
