Romanian dental imaging network DigiRay said on Tuesday it plans to invest 2 million euro ($2.19 million) in expansion over the next 18 months, as its turnover in 2020 is expected to increase by 15%.
The financing, part of which will come from EU funds, will be allocated to acquisitions, the construction of new laboratories and the development of new services, which would shorten treatment and increase technological efficiency, DigiRay said in a press release.
The management has decided to stick to the investment plan for 2020 made before the crisis caused by the Covid-19 outbreak, it added.
In the first two months of the year, revenues increased by an annual 43% but during March-April business activity was strongly affected by the nationwide state of emergency, DigiRay founder Cristian Pop said.
However, the company expects full-year turnover of 2 million euro, up by 15%, he added.
DigiRay was established in 2008 in Zalau, in Salaj county. It operates 11 centres, located mainly in the western part of Romania. The network ended 2019 financial year with a turnover of approximately 1.7 million euro, up 43% from the previous year
($=0.9176 euro)