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By Emea Riga
MedLife announces that it has completed the acquisition of the 100% stake in Polisano medical services division, ranking in top 10 largest medical services providers in Romania, after the acquisition was validated by the Competition Council.
The new structure that MedLife will have in Transilvania consists in 5 mono and multidisciplinary hospitals; 7 tests laboratories; 8 large clinics integrating state-of-the-art medical imaging departments; 2 maternity clinics and one center for in vitro fertilization.
“We are very glad to announce the completion of this transaction, as one of the most significant consolidation initiatives on the Romanian medical services market so far. From this moment on, Medlife becomes the uncontested leader also in the Transilvania region, with sales exceeding EUR 60 million only in this geographical area, and successfully finalizes one of the most relevant and complex transaction in the Romanian medical services market. At the same time, we are finalizing the company’s transformation cycle into a sizable national organization that can multidisciplinary cover most of the basic medical services. We are confident that this development has brought a new dynamic to the Romanian medical services market and to the quality of the medical act. We also believe that this development has brought into the life of millions of Romanians a new chance for health and an increase of the quality of life”, stated Mihai Marcu, MedLife President and CEO.
Set up in the 90’s, Polisano is the first fully integrated group in the Romanian medical area. It includes a series of four clinics with own laboratories located in Bucharest and Sibiu and a private hospital – Polisano European Hospital of Sibiu – recognised as being one of the most modern and effective hospitals in Romania
During its close to 25 years of activity, Polisano has served approximately 2.1 million patients, both in retail and corporate segments. Currently, the company has more than 500 employees and registered sales of approximately RON 80 million in 2016.
“Beyond taking over a performing company, we onboard an extraordinary team of doctors who join Medlife to help strengthen the largest private medical platform for diagnosis and surgical treatment in Romania. We are confident that Romanians will continue to see us as the first option for solving their medical issues. Our promise to the Romanians is that we will continue to put the patient first and, together with our team, we will offer medical services at standards similar to the ones offered by any other medical unit in the world.”, stated Mihai Marcu, MedLife President and CEO.
MedLife made its first acquisition in 2011 when it purchased the majority stake in PDR Brasov group of companies. During a period of 8 years, the company completed 19 acquisitions, being probably the medical operator with the largest expertise in acquiring and integrating a medical group or company. The last acquisition was that of Solomed, a group of medical services clinics present in Pitesti, Costesti and Curtea de Arges markets.
MedLife advisors for Polisano transaction were TaxHouse for tax advice and Dima&Asociatii for legal advice. The seller’s advisors were PWC for transaction advice and David&Baias for legal advice.
MedLife is the largest private medical operator in Romania. The company operates the largest network of clinics, one of the major networks of medical laboratories, multi and monodisciplinary hospitals and it has the largest client base for Health Prevention Packages at national level. Also, sales-wise, it is one of the major private healthcare companies in Central and Eastern Europe.
The stock issued by MedLife SA is accepted for trading on the on spot regulated market, managed by the Bucharest Stock Exchange, under the Premium Category, ticker symbol “M”.
The MedLife Group has a successful background regarding both organic and also acquisition growth. Since 2009 the company has opened or bought 83 medical units. Its strong and experienced management team has been able to create and manage these growth opportunities, acquiring valuable experiences and knowledge, allowing it to find the best way for carrying on the expansion process successfully.
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