August 8 (SeeNews) - Romanian privately-owned medical services provider MedLife [BSE: M] said on Tuesday it has acquired 55% of local peer Valdi Medica for an undisclosed price.
Valdi Medica operates Humanitas Hospital in Cluj-Napoca, in northwestern Romania.
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Upon completing this transaction the MedLife group will reach its 16th acquisition, with the deal for Anima being the most recent one, MedLife said in a statement filed with the Bucharest Stock Exchange, BVB.
Humanitas Hospital was opened at the end of 2016 and it is the newest private hospital in Cluj-Napoca. It provides a wide range of services and advanced surgical treatment, featuring two operating rooms and an anaesthesia and intensive care department.
"With the acquisition of the majority share package of Valdi Medica, we become the first national operator that owns a hospital unit in Cluj, and it is even better that we can do it with a team of physicians of such calibre. We intend to substantially develop the hospital in the very near future, together with our partners, and to become the largest private provider of integrated healthcare services in Clu," MedLife president and CEO, Mihai Marcu, said.
MedLife entered the market in Cluj-Napoca as early as 2008, when it opened a laboratory and a centre for occupational medicine. In 2015, the company expanded by opening the first MedLife Hyperclinic in Cluj, thus becoming the first healthcare service provider of outpatient solutions, imaging and laboratory services in the area.
“By co-opting the MedLife partner in the company’s shareholding, we wish to reach a new development stage of the Humanitas Hospital, by expanding the clinical unit for continuous hospitalisation, by developing integrated outpatient services and establishing a day hospitalisation unit for patients undergoing minimally-invasive therapeutic interventions," said Adrian Barbos, founding member of Humanitas Hospital Cluj.
In February, MedLife acquired local healthcare services provider Anima for an undisclosed sum 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, the company said back then.
At the end of January, MedLife said it has acquired 80% of local health service provider Almina. The value of the deal was not disclosed.
In 2016, MedLife took over local network of dental clinics 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 2016, MedLife raised 230 million lei ($59.4 million/50.3 million euro) through a fully subscribed initial public offering (IPO) of a 44% stake.
MedLife shares were traded 0.27% higher at 37.4 lei on the BVB as at 0937 CET on Tuesday.
(1 euro=4.5156 lei)