Marcu: MedLife pursues expansion in 2015 and is looking at new acquisitions

“2015 is a new year in MedLife's expansion. In the first half of the year, namely in April-May, we will complete five projects in Bucharest almost simultaneously: a multidisciplinary hospital in Titan, a new hyperclinic in Berceni, a neurosurgery center in the Ferdinand area, a dental clinic in the “Unirii” area, and a cardiology and interventional radiology center in Grivita, the last three marking completely new business lines. Additionally, we intend to expand the Grivita laboratory,” said Marcu as per a press release.

Besides these projects, Mihai Marcu explained that two more projects will be carried out in the second half of the year when the expansion of MedLife's hyperclinic in Timisoara will be completed and a new large clinic will be inaugurated in Cluj.

Also, the healthcare company could engage in new acquisitions, following the recently-completed takeover of SAMA, a private healthcare network in the Oltenia region.

“We are discussing with three or four medical operators on new local acquisitions, the minimum turnover of each of these companies standing at 7 to 10 million euro,” added Marcu.

MedLife concluded the first domestic acquisition in 2010 when it bought 80 percent of the Brasov-based Rapid Diagnostic Clinic group, the transaction amounting to more than 3 million euro being followed by other two: the acquisitions of Dyagnosys Arad and “Eve” Maternity in Brasov.

With a turnover of 80 million euro and EBITDA of 13 million euro in 2014, MedLife projects an advance by up to 25 percent this year

Last year, MedLife reported an aggregate turnover of 80 million euro, generating an operating profit (EBITDA) of 13 million euro, 25 percent more than in 2013.

The advance is expected to continue in 2015 when the company anticipates that its revenues will see an organic growth of 16 percent to 93 million euro with the possibility to expand up to 100 million euro (25 percent more year-on-year), provided the foreseen acquisitions will be closed.

As regards the operating profit, MedLife estimates an accelerated growth by 31 percent to 17 million euro.

The company's forecast indicates a performance above the market average whose growth will range from 10 to 12 percent, driven by the development of the medical subscriptions segment, say the company's representatives.