Romania’s largest private medical operator MedLife acquires majority stake of 51% in the Hungarian group of companies providing private medical services, Rózsakert Medical Center (RMC). According to the press release on the 8th of March, financial terms of the deal were not disclosed. The seller was advised by SORTIS’ partner in the Globalscope M&A Advisors network – Heal Partners, an independent financial advisory firm operating in Central and Eastern Europe focusing on corporate transaction services, disposal, capital raising, acquisition advisory, and external financing.
Through its first acquisition outside Romania, MedLife becomes one of the largest private healthcare providers in Central and Eastern Europe. “The medical team in Hungary is very valuable and we believe that together we will strengthen the MedLife system to provide high-quality medical services to patients both in Romania and Hungary,” MedLife president and CEO Mihai Marcu said. MedLife plans for 2019 include expanding with two more medical units in Hungary under greenfield investment, but do not exclude the possibility of a new acquisition.
RMC is one of the top well-recognized providers of private medical services in Hungary with a turnover of €4.2 M in 2017. The company provides a wide range of clinical and para-clinical outpatient services, as well as a complex range of day hospitalization interventions, focusing on the specialties of ophthalmology, gynecology, proctology, dermatology, plastic surgery, and others. Commenting on the deal Dr. Gyula Csermely, director of Rózsakert Medical Center Group stated “The investment being carried out is not simply a transaction but is also the incorporation of a well-capitalised strategic partner with an approach that is similar to ours. We will move forward down the same path as before, with the aim of building a highly successful network.”
MedLife is the largest private medical operator in Romania. The company operates a network of 20 clinics, medical laboratories, multi and monodisciplinary hospitals and has the largest client base for Health Prevention Packages at national level. Its Romanian network serves five million individual users. The stock issued by MedLife SA is accepted for trading on the spot regulated market, managed by the Bucharest Stock Exchange, under the Premium Category, trading symbol “M”.