September 12 (SeeNews) - Romanian private healthcare services provider MedLife [BSE:M] said on Monday it has acquired the majority package in local startup SanoPass, which provides medical, wellness and fitness services on a subscription and individual basis.
The transaction marks the continuation of MedLife's strategy to integrate and strengthen medical and wellness services, developing an integrated system of services for a healthy lifestyle through medical prevention, sports and nutrition, the company said in a statement filed with the Bucharest Stock Exchange, BVB.
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"The acquisition of the majority stake in the SanoPass digital platform therefore marks another important step for MedLife in the strategic direction of becoming an integrated supplier of subscriptions for preventive healthcare, exercise and nutrition, complementing the diagnostic and treatment services we already offer, in the largest network of medical clinic in Romania," MedLife executive director Dorin Preda said.
Following the completion of the transaction, SanoPass will remain an independent business, and the management team will remain the same.
The company aims to substantially expand the team and the portfolio of clients and beneficiaries, serving both individual subscribers and corporate clients, mainly small and medium-sized enterprises (SMEs) with ten to 250 employees.
"Our ambitions for international expansion are as strong as ever, and we are considering European expansion in due course", SanoPass founder and managing partner Andrei Vasile said.
SanoPass digital platform unifies and facilitates access to health and fitness, offering access to over 1,200 private clinics, both independent and large networks, and over 200 gyms and fitness centers in Romania and Moldova. Through this national network of partners, SanoPass provides medical and fitness services for 50,000 subscribers.
MedLife announced five months ago its entry into a new business segment, that of wellness services, which complements the medical diagnostic and treatment services it offers nationally, through the acquisition of the fitness gyms network Sweat Concept. The transaction for Sweat Concept closed last week, with plans for growth in this direction in full development.
The MedLife Group is the operator with the largest portfolio of acquisitions in the medical sector in Romania, the company investing heavily in the growth of its network in Romania. With the acquisition of SanoPass, MedLife reaches a total of 46 transactions.
Medlife's shares traded 0.21% higher at 19.04 lei ($3.94/3.87 euro) at 1601CET on Monday on the Bucharest Stock Exchange.
(1 euro=4.9047 Romanian lei)