July 10 (SeeNews) - Medical services provider Medicover Group said on Monday it has acquires local peer Iowemed for an undisclosed sum.
The transaction will help Medicover expand its network in the eastern part of Romania, the company said in a press release.
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Iowemed medical network is located in Constanta county and includes five medical centres, of which two are located in the Black Sea port city of Constanta.
"We will work closely with our new colleagues to facilitate knowledge, experience and technology sharing. We have local development plans, both in terms of the range of medical services and the team, and we are delighted to implement them with a well recognized and appreciated local company such as Iowemed, ," Medicover Romania general manager, Adrian Peake, said.
Medicover is taking over Iowemed's team of over 150 doctors and assistants with expertise in 30 medical specialties, such as marine medicine services for those who need medical certificates specific to sailing activities.
"We are now joining a prestigious international medical network and we are confident that this step will provide our patients with much more treatment and care options, including premium hospitalization in Bucharest," co-owner of Iowemed, Ionica Ciortan, said.
Medicover Group is a private healthcare organisation in Central and Eastern Europe that employs 12,000 people in Belarus, Bulgaria, Georgia, Hungary, Germany, Moldova, Poland, Romania, Russia, Serbia, Sweden, Ukraine, Turkey and the UK.
In Romania, Medicover provides healthcare services to over 150,000 clients annually through its 25 clinics in 11 cities. It also operates a private hospital in Bucharest, in which it invested 20 million euro in 2012.
In May, Medicover opened its 11th clinic in Bucharest following a 500,000 euro ($569,526) investment.
($= 0.8779 euro)