Romania's MedLife buys Antares Clinic

The transaction, whose value was not disclosed, will increase MedLife's footprint in Moldova region to 18 clinics and laboratories, making it the largest diagnostic network in the region, it said in a filing to the Bucharest Stock Exchange.

"We will continue to strengthen our position and hope to announce further acquisitions by the end of the year," MedLife Group president and CEO Mihai Marcu said.

"Despite the complete acquisition of the company, the management remains intact. [...] We have ambitious plans for expanding into nearby cities," Antares Clinic founder Dr. Dorel Cosma said.

Antares Clinic has been operating as a private healthcare services provider since 2006. Antares runs three outpatient units located in Piatra Neamt, Botosani, and Onesti as well as two laboratories, in Piatra Neamt and Botosani.

Established in 1996, MedLife is among Romania’s largest healthcare providers, with 230 hyperclinics and clinics, 17 hospitals, 4 maternity centres, 34 laboratories, 23 pharmacies and 18 dental clinics. The group also has 170 private clinic partners across Romania.

In the first quarter of 2024, MedLife booked a consolidated net profit of 13.1 million lei, up from 8.4 million lei in the same period of 2023.

Blue-chip MedLife’s shares traded 2.68% lower at 5.8 lei as at 1007 CET on Monday on the Bucharest bourse.

(1 euro=4.9771 lei)