February 24 (SeeNews) - Romanian private healthcare services provider MedLife [BSE:M], the parent company of the group of the same name, said on Friday that the group’s preliminary consolidated net profit fell by 60.7% on the year to 44.39 million lei ($9.6 million/9 million euro) in 2022.
MedLife Group’s consolidated operating income jumped by an annual 26.6% to 1.819 billion lei last year, while operating expenses grew by 35.6% to 1.716 billion lei, MedLife said in a preliminary financial report filed with the Bucharest Stock Exchange, BVB.
The most successful business lines in terms of revenues from customer contracts were clinics, hospitals and corporate, which grew by an annual 51.6%, 19.3% and 7.4%, respectively.
Amid inflationary pressures, MedLife continued its expansion and growth strategy, completing 13 major transactions and developing seven projects organically in order to strengthen its expertise in integrated medical services and niche services, it said.
The group’s total assets increased by 46.2% year-on-year, reaching 2.073 billion lei at the end of 2022, while its total liabilities grew by an annual 58.7% to 1.645 billion lei.
In terms of operating income, MedLife cut a 32.6% share in the group’s result, taking in 593.4 million lei in 2022, after a 2% annual decrease the year prior. The parent’s net result plummeted by 96% on the year to 2.24 million lei, or 5% of the group’s consolidated net profit.
Among its priorities for 2023, the group is focused on the MedLife Medical Hub pilot project, a medical park located in Bucharest, which has entered the second stage of development. The company plans to also replicate the pilot project in other areas of the country such as the cities of Brasov, Sibiu, Cluj and Arad.
In the short term, MedLife Group will inaugurate a new hyperclinic in the northeastern city of Bacau and complete the acquisition of Romanian healthcare services provider Provita Group, for which it has already received approval from the country's antitrust authority.
MedLife shares traded 2.82% lower at 18.62 lei by 1444 CET on Friday on the Bucharest bourse.
(1 euro=4.9115 lei)