Romania's MedLife acquires 60% stake in Pro Life Clinics

The value of the transaction was not disclosed.

Pro Life Clinics will thereby function under MedLife’s Sfanta Maria network of medical facilities, MedLife said in a press release.

“We are accelerating the consolidation of Sfanta Maria brand through a new transaction that takes place just one day after the full acquisition of Life Med. We come to patients in the area of Moldova with integrated medical services, which cover a wide range of medical specialties both outpatient and day hospitalisation," MedLife Group President and CEO Mihai Marcu said in the statement.

The acquisition of Pro Life Clinics marks the latest of MedLife’s 38 transactions, preceded by a 100% share capital acquisition of Life Med and a 76% stake in Expert Med Irina Medical Centre.

ProLife Clinics was established in 2009 and offers outpatient medical services across a broad range of disciplines, from allergology to neurology. ProLife also offers inpatient services through its 27-bed capacity. The clinic has also offered addiction therapy since 2013, according to the statement.

According to MedLife, Pro Life Clinics recorded a turnover of 7.3 million Romanian lei ($1.6 million/1.48 million euro) in 2021, of which 23% were generated by inpatient services. 77% of the turnover was generated by outpatient services.

MedLife’s Sfanta Maria brand was launched in 2017 and currently covers over 60 medical facilities across Romania. MedLife itself was launched in 1996 and currently covers a network of over 190 sites, across a broad range of medical fields.

According to a financial report published on the Bucharest Stock Exchange, the MedLife Group recorded a turnover of 1.4 billion Romanian lei in 2021.

MedLife shares traded up at 21.75 Romanian lei at 12:52CET on the Bucharest Stock Exchange.

(1 euro = 4.94 Romanian lei)