Romania's biggest private medical services provider, MedLife Medical System, has signed a contract for taking over CED Pharma, which owns six pharmacies located within or close to hospitals.

This is MedLife's second acquisition in the pharma segment, after Pharmachem, announced within two weeks. The transactions are pending approval by the Competition Council.

CED Pharma is part of a group of companies, which consists of six pharmacies, all located in Bucharest. In 2019, the company registered a turnover of EUR 4 mln, 6% more compared to the previous year.

"Once this transaction is completed, the six pharmacies will be integrated into PharmaLife's network. The total number of units will reach 20, in the context of another two pharmacies having been recently added to the portfolio," said Mihai Marcu, CEO and President of MedLife Group.

If the takeovers of CED Pharma and Pharmachem are completed, MedLife will reach a portfolio of 30 acquired companies, being the company with the greatest expertise in M&A and integrating a group of medical companies.

editor@romania-insider.com

(Photo source: MedLife)