MedLife, the biggest private medical services provider in Romania, officially started the international expansion with the acquisition of a 51% stake in Hungarian group Rózsakert Medical Center (RMC). The Romanian company announced the acquisition on Wednesday, January 30.

"This is the first move outside Romania of a Romanian company operating in the private medical sector and we are proud that MedLife, the leader of the medical services market in Romania, crosses the borders and leads the Romanian capital further. Hungary has an interesting, growing private medical market,” said Mihai Marcu, CEO and Chairman of MedLife Group. Marcu's family founded the business and currently controls 46% of its shares.

The Romanian group has allotted EUR 4-5 million worth of investments for this acquisition. It plans to look at other expansion opportunities in the next period. “Europe suffers in terms of cross-border businesses. Very few companies have achieved this, so far, especially in the complex medical field, with medical clinics, imaging, laboratories and hospitals under the same roof. We have the chance to provide an example, and if we succeed, Hungary and Romania can become pioneers of a regional company," Mihai Marcu added.

The Rózsakert Medical Center (RMC) is one of the top 10 providers of private medical services in Hungary. The group has a multidisciplinary clinic that is also equipped with a small surgery room and a dental center. According to the company's representatives, more than 40,000 patients use RMC services every year.

The group was set up in 2001 by Dr. Gyula Csermely, gynecologist-obstetrician. After 18

years of operation, it now has a team of over 250 doctors and nurses. In 2017, the group registered a turnover of EUR 4.2 million, according to data provided by the management.

MedLife operates the largest network of private clinics and hospitals in Romania. Since 2009, the group has purchased over 83 medical units in the country. In the first nine months of 2018, the group reported pro-forma sales of RON 606 million (EUR 130 million). The group’s shares are trading on the Bucharest Stock Exchange under the ticker M. Its market value currently stands at over EUR 125 million.

Romanian healthcare group MedLife aims to pass the EUR 200 mln turnover threshold this year

editor@romania-insider.com