April 3 (SeeNews) - Romanian private healthcare services provider MedLife Group [BSE:M] said on Wednesday it acquired a majority stake in human medical genetics centre Personal Genetics.
By entering the shareholding of Personal Genetics, MedLife became the medical operator with the largest expertise in the area of genetics and molecular biology in Romania, the company said in a filing to the Bucharest Stock Exchange.
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The size of MedLife's stake in Personal Genetics was not disclosed.
MedLife expects strong market movements in the coming months and is considering more acquisitions of majority stakes, as per the statement. MedLife Group has integrated 73 national and international companies since 2011.
Established in 1996, MedLife is among Romania’s largest healthcare providers, with 230 hyperclinics and clinics, 17 hospitals, 4 maternity centres – located in Bucharest, Brasov, and Arad, 34 laboratories, 23 pharmacies and 18 dental clinics. The group also has 170 private clinic partners across Romania.
In 2023, MedLife swung to a net loss of 5.67 million lei ($1.23 million/1.14 million euro) from a net profit of over 37.4 million lei in 2022.
Blue-chip MedLife’s shares traded 4.08% higher at 4.08 lei as at 1421 CET on Wednesday on the Bucharest Stock Exchange.
(1 euro=4.9689 lei)