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Med Life S.A. - M

MedLife acquires the majority stake of Opticristal clinic in Brasov

Release Date: 8/4/2022 8:30:16 AM

IRIS Code: ECAFD

 

MedLife will offer patients services of excellence in ophthalmological pathology by signing a new partnership with the ophthalmological diagnosis and surgery clinic Opticristal in Brasov

 

§  Out of care for patients with ophthalmological pathology whose number increases from one year to the next, MedLife announces a new partnership following the acquisition of 60% of the shares of the ophthalmological diagnosis and surgery clinic Opticristal in Brasov

§  By purchasing the majority package of the Opticristal clinic, MedLife patients and clients in the center of the country will benefit from complete medical solutions for diagnosis and surgical treatment for ophthalmological pathology.

§  This transaction contributes to the consolidation of the regional hub developed by MedLife in Brasov County, which reaches 16 medical units, including 2 large hospitals.

§  The transaction is carried out by Policlinica de Diagnostic Rapid (PDR), the first company acquired by MedLife 12 years ago.

§  In order to further support the commitment to get Romania well together, with care and empathy towards the needs of patients,MedLife Group will continue to invest heavily in the development of its network and portfolio of services in order to provide to its patients integrated solutions, from prevention and wellness to cutting-edge surgical treatments.

Bucharest, 4 August 2022 – MedLife, the leader of the private medical services market in Romania is taking a new step to welcome patients with specific, niche solutions, and announces the acquisition of 60% of the shares of the ophthalmological diagnosis and surgery clinic Opticristal in Brasov. The transaction, carried out by Policlinica de Diagnostic Rapid (PDR), comes in addition to the medical services offered in the regional hub developed by MedLife in Brasov County, which thus reaches 16 medical units.

With over 20 years of experience on the market in Brasov, Opticristal Clinic includes both a patient diagnostic center, feature the most advanced examination equipment, and an ophthalmology surgery center, in which over 2000 interventions are performed annually. The medical teams are specialized in posterior pole surgery, pediatric ophthalmology, eyelid surgery, and the treatment of glaucoma and diabetes. The operating room is equipped to European standards and has cutting-edge technologies, including an operating microscope and an ultrasonic phacoemulsification device for cataract surgery. At the same time, Opticristal is the only specialized center in Brasov that performs surgeries to correct refractive errors using the EXIMER laser.

Opticristal Brasov Clinic recorded last year a turnover of 1 million euros.

“We pay attention to patients' health and, out of concern and empathy for their needs, we continue with sustained efforts in order to improve the quality of their life, and the development on the niche segments brings us closer to this goal. We started with oncology, becoming, with the acquisition of OncoCard and Neolife, the largest medical services operator in Romania in the diagnosis and treatment of cancer in Romania; we recently entered the wellness segment, through the acquisition of Sweat, and we continue to focus and on other medical niches to cover the market demand through proven expertise and medical excellence. Thus, by integrating in the group a monodisciplinary medical clinic, we complete the range of ophthalmological services that the patients can access in MedLife units ", stated Dorin Preda, Executive Director, MedLife Group.

“Brasov is a crowded market, and this fact determines us to constantly reinvent ourselves. Beyond organic growth, we are very connected to what development through acquisitions means and we want to integrate under our umbrella companies that bring added value for patients, such as Opticristal Clinic, in order to help us to have a better territorial coverage. ", stated George Muscoiu, MedLife PDR Brasov regional manager.

Policlinica de Diagnostic Rapid (PDR) is the first company acquired by Medlife, more than a decade ago. At that time, PDR had 2 units and a turnover of about 3 million euros, while today MedLife Brasov is a true regional hub, with 16 medical units and a turnover of almost 30 million euros.

Currently, MedLife has the largest portfolio of Romanian medical companies integrated in the group, over 45, and announces that it has other ongoing transactions in the next period. The last acquisition announced was for Muntenia Hospital, the largest private hospital in Arges County. The transaction is in process of approval by the Competition Council.

 

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About MedLife Healthcare System

MedLife started almost three decades ago, has developed healthily and has become the largest provider of private medical services in Romania. Romanian entrepreneurs, who founded this company, invested and got involved to bring change in the Romanian health system, believed in innovation and dared to aim as high as possible in order to offer Romanian patients quality, professionalism, care and respect for their needs.

The company operates the largest network of clinics, one of the largest networks of medical laboratories, general and specialized hospitals and has the largest corporate customer base for Health Prevention Packages in the country. In 2016, MedLife founded Sfanta Maria medical brand, integrated within the medical system and which currently operates with over 60 of its own medical units nationwide, which resulted from acquisition projects and organic developments. MedLife is also one of the largest players in private healthcare in Central and Eastern Europe in terms of sales.

MedLife Group has a history of success in terms of both organic growth and growth by acquisitions. Its strong and experienced management team has been able to create and manage these growth opportunities, gaining valuable knowledge and experience, which will enable to find the best way to successfully continue the expansion.

Being a Romanian company with a tradition, MedLife chose to be listed on the Romanian Stock Exchange, being a model of listings on the local capital market. It has opened horizons, and through the corporate governance it has implemented, it has inspired other local companies to start on this path and help the development of the Romanian capital and economy. The shares issued by MedLife SA are admitted to trading on the regulated spot market administered by the Bucharest Stock Exchange, Premium Category, with the trading symbol “M”.

During the pandemic, MedLife managed to play a key role in society and gain leadership in pandemic monitoring through active involvement in the research area.

 The company continues to invest in projects with an impact on the local community, in technology and infrastructure. It creates jobs and develops an ecosystem that contributes to the development and maintenance of a healthy Romania.

 



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