December 14 (SeeNews) - Romanian privately-owned medical services group MedLife [BSE:M] said on Tuesday it signed a syndicated loan of 228 million euro ($240 million) to refinance an existing credit and boost its national footprint through acquisitions.
The funds will be used to refinance and increase an existing syndicated loan by 50.7 million euro and to finance new acquisitions and development projects, MedLife said in a statement filed with the Bucharest Stock Exchange, BVB.
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The syndicate of banks consists of Banca Comerciala Romana, Raiffeisen Bank, BRD Groupe Societe Generale, Banca Transilvania, ING Bank N.V. Amsterdam Bucharest Branch and Erste Group Bank AG.
Before using the newly available funds for development and new transactions, MedLife will focus its efforts on the integration of the 13 companies acquired this year.
MedLife closed the first nine months of 2022 with a consolidated pro-forma turnover of 1.3 billion lei ($278 million/263 million euro), up 27% on the year, recording a double-digit advance for most business segments.
MedLife Group has 700 own and partner locations nationwide and over 5.5 million unique patients. Almost 800,000 employees have MedLife medical service subscriptions.
MedLife's shares traded 0.34% lower at 17.42 lei on the Bucharest Stock Exchange as at 1431 CET on Wednesday.
(1 euro=4.9248 lei)