February 6 (SeeNews) - Romanian privately-owned medical services provider MedLife [BSE: M] said on Monday it has acquired local healthcare services provider Anima for an undisclosed sum.
MedLife has acquired Anima in order to consolidate its leading position, becoming the only player in Romania with two stratified brands on the market of outpatient care services and corporate subscription and occupational medicine, it said in a filing to the Bucharest Stock Exchange, BVB.
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Anima is one of the largest private outpatient healthcare services provider that has agreements with the Bucharest Health Insurance Fund (CASMB), covering over 15 medical specialties. It currently consists of 6 polyclinics and a laboratory, has over 200 employees and more than 75,000 corporate subscribers, mostly focusing on subscriptions covering occupational medicine services. In 2016, Anima posted a turnover of 5.2 million euro ($5.58 million), MedLife said.
"Anima will remain an autonomous company, with a sales department operating differently and independently from the one promoting the MedLife brand. We will keep the current management team, which we trust completely,” MedLife president and CEO Mihai Marcu said. "As we do with all acquisitions, after the takeover we will identify the functions and activities that we can render more efficient in order to capture the scale economy”.
The full acquisition of the Anima network of clinics is the 15th acquisition made so far by the MedLife group.
At the end of January, MedLife said it has acquired 80% of local health service provider Almina for an undisclosed sum.
In 2016, it took over local dental clinics network Dent Estet for an undisclosed sum and local laboratories and clinics network Diamed Center for 3 million euro.
In 2015, MedLife bought a majority stake in the group of companies SAMA & Ultratest, the stem cell bank Stem Cells Bank, the Prima Medical Center in Craiova, and two laboratories - in Iasi and Constanta.
MedLife's expansion began in 2010 when it bought 80% of Policlinica de Diagnostic Rapid group in Brasov for 3 million euro. In 2012, MedLife bought Genesys Arad medical group and Eva Maternity in Brasov.
In December, MedLife raised 230 million lei ($53.3 million/50.8 million euro) through a fully subscribed initial public offering (IPO) of a 44% stake.
Its shares were trading flat at 25.8 lei on the BVB as at 1025 CET on Monday.
(1 euro=4.5156 lei)