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Med Life S.A. - M

Announcement Financial Results Q3 2018

Release Date: 11/8/2018 1:52:51 PM

IRIS Code: 302BB

MedLife announces Pro-forma Sales of 606.16 m RON for the first 9 months of this year, up by 32% as compared to 2017

There are indicators that by the end of 2019 Medlife will become the first medical services company to exceed Sales of 200 m Euro.

 

November 8, 2018, Bucharest: MedLife, the leader of the private medical services market in Romania, concludes the first nine months of 2018 with Pro-forma Sales of 606.16 million RON, thus increasing by 32% over the same period last year.

Clinics and hospitals had the highest dynamics, these business segments recorded a 49% increase and respectively 45% increase over the same period last year, followed by laboratories and the corporate division, with 21% increase and 19% increase. According to the company's representatives, the results are in line with the initial estimates and significantly above the growth rate of the market.

"We completed the first nine months of 2018 with very good results, results that reflect the development and expansion strategy at group level. In addition to the projects announced for the first semester, this autumn we opened the first hyperclinic in Oradea; currently we are present in this city with a laboratory, a large clinic and an imaging center - the Transilvania Imaging Center which represents an acquisition. With the completion of this project, MedLife becomes the only medical services company with large clinics in all cities with more than 150,000 inhabitants. No other medical services company is present in at least 10 county residences with such units as MedLife. This is an important achievement. At the same time, we are the only private medical service company that can use its synergies at national level to capture competitive advantages, of course, aggregated with the investmenta for hospitals and imaging made this year, "said Mihai Marcu, President and CEO of MedLife Group.

In the following period, MedLife Group will continue the greenfield projects, designs the development of new business lines, and continues its acquisitions strategy. The company aims to develop the second brand - Sfanta Maria, but also the expansion of other acquired companies.

 

"We are already present in all major cities through the MedLife brand and because we want to facilitate the access to medical services to as many Romanians as possible, we evaluate the strategy to enter the smaller cities through Sfanta Maria brand. The pilot project is the completion of the medical clinic in Bacau, which we will soon inaugurate", said Mihai Marcu.

 

In addition to the development of Sfanta Maria brand, MedLife also aims to expand the past-acquired companies. Thus, Dentestet, the Romanian dental services leader, a company acquired in 2016, is preparing to expand with two new units, and Sama, one of the most important operators in Oltenia, a company acquired in 2015, aims to open a new large unit, which will include hospitalization services.

 

"The post-acquisition development of the companies in the group is further proof that we are a reliable partner and we are looking for a long-term partnership and cooperation beneficial for both parties", Mihai Marcu said.

 

In the later part of this year, MedLife representatives want to maintain the company's accelerated growth pace. "There are prerequisites that at the end of 2019, considering the finalization of our started acquisition projects, we will become the first Romanian medical services company to exceed 200 million euros. Most importantly, MedLife Group will put a strong emphasis on digital infrastructure, the second opinion on a national level and the development of centers of excellence at the level of the 10 hospitals for several specialties such as neurosurgery, cardiac surgery, abdominal wall surgery, gynecology and sports traumatology" concluded Mihai Marcu, CEO of MedLife Group.

 

 

About MedLife:

 

MedLife is the largest private healthcare provider in Romania. The company operates the widest network of clinics, one of the large networks of medical laboratories, general and specialised hospitals and it has the largest client database for Healthcare Prevention Packages in the country. In addition, from the standpoint of sales, it is one of the largest private healthcare companies in Central and Eastern Europe.

 

The shares issued by MedLife SA are traded on the spot regulated market managed by the Bucharest Stock Exchange, Premium Category, with the “M” trading symbol.

 

MedLife Group has a successful history as regards both organic growth and growth by acquisitions. As of 2009, it has opened or acquired over 83 medical units. Its strong and experienced management team has been capable of creating and managing these growth opportunities, acquiring valuable knowledge and experience, which can allow finding the best way to continue expanding successfully.

 

 



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