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Romania's MedLife takes over 100% of Onco Card Hospital in Brasov

Author Mario Tanev
Romania's MedLife takes over 100% of Onco Card Hospital in Brasov MedLife

BUCHAREST (Romania), December 10 (SeeNews) - Romanian privately-owned medical services provider MedLife [BSE:M] said on Tuesday it has signed a deal to acquire 100% of oncology diagnosis and treatment centre Onco Card Hospital in Brasov for an undisclosed sum.

"This partnership follows our strategy to expand and develop the segment of oncological services," Mihai Marcu, president and CEO of MedLife, said in a filing to the Bucharest Stock Exchange.

"It is an area of interest for us and we do not rule out that in the coming years we will invest consistently in the oncological treatment of excellence at national level," Marcu added.

The transaction is subject to approval by Romania's competition regulator. Once approved, it can become the most important transaction of MedLife group in 2019, the group said, adding that by taking over OncoCard Hospital, MedLife reaches a portfolio of 27 acquired companies, the last one announced being the Micromedica Medical Center.

Onco Card Hospital was established in 2012. Some 24 million euro ($26.6 million) have been invested in the oncology centre since its opening. It recorded a turnover of 41.8 million lei in 2018, Medlife said.

($ = 0.9027 euro)