November 9 (SeeNews) - Czech reproductive medicine services provider FutureLife acquired a majority stake in Romanian genetics laboratory CytoGenomic Medical Laboratory, deal advisor Bancila, Diaconu and Asociatii said on Wednesday.
Danae Stambouli, founder of CytoGenomic Medical Laboratory, will remain the CEO of the company and a significant shareholder, leading the company’s expansion strategy, Bancila, Diaconu and Asociatii said in a press release.
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No further details about the company's ownership structure after the deal were disclosed.
CytoGenomic Medical Laboratory was founded in 2007 and employed twenty people at the end of 2021, according to data from the finance ministry. The company's net profit doubled to 1.3 million lei ($265,800/265,800 euro) in 2021, while its turnover rose by an annual 20% to 8.5 million lei.
Prague-based FutureLife's portfolio is comprises 45 clinics in ten countries, where over 1,200 work, according to its website.
Since July, FutureLife is part of private equity firm CVC Capital's portfolio. Its previous owner Hartenberg Holding continues to retain a stake in FutureLife.
(1 euro=4.8912 lei)