July 15 (SeeNews) - Romanian private healthcare services provider MedLife Group [BSE:M] said it has acquired 99.76% of Muntenia Hospital in the southern city of Pitesti, Arges county.
The transaction, whose value was not disclosed, is pending approval from the Competition Council, MedLife said in a statement filed with the Bucharest Stock Exchange, BVB, on Thursday.
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"The new partnership will translate into expanding our portfolio of services in the region - so, in addition to outpatient, imaging and laboratory services, people from Arges will also benefit from complex surgical treatments and hospitalization at the highest standards," MedLife Group executive director Dorin Preda said.
MEdLife's announcement came in the same day when private healthcare services provider Regina Maria announced that it is suspending the acquisition of Muntenia Hospital it had announced in June.
"It is our duty and responsibility to ensure that all acquisition and integration processes in which we are involved are conducted to the highest standards. The Regina Maria network will not complete the acquisition procedure of the Muntenia Hospital in Piteşti, but Arges county remains on our list of priorities and we keep our commitment to continue investing in Pitesti and beyond," the company said in a press release on Thursday, without elaborating on specific reasons for giving up the acquisition.
With over ten years of experience in the medical services market, Muntenia Hospital has one surgery block with four operating rooms, a high-performance radiology and imaging center and its own medical analysis laboratory. According to company representatives, last year Muntenia Hospital had a turnover of 5.5 million euro ($5.52 million).
MedLife's shares traded 0.22% lower at 18.52 lei ($3.76/3.75 euro) at 1020 CET on Friday on the Bucharest Stock Exchange.
(1 euro=4.9418 lei)