MedLife announces the second pharma transaction, acquires CED Pharma in Bucharest

MedLife announces the signing of the transaction for the acquisition of the full package of shares of CED Pharma group of companies. It is the second acquisition of MedLife Group in the pharma segment, announced within two weeks. CED Pharma is part of a group of companies, which consists of 6 pharmacies, all located in Bucharest. At the level of 2019, the company registered a turnover of 4 million Euro, increasing by 6% compared to the previous year.

“As we announced our shareholders, we continue to consolidate and diversify our business segments. The current business structure incorporates 6 business divisions: clinics, laboratories, hospitals, dentistry, pharmacies and corporate subscriptions, and this type of structure helps us to address the needs of the current patient, but especially the needs of the future patient. The acquisition of CED Pharma is a natural step in the M&A program, as it helps us not only to strengthen our PharmaLife pharmacy division, but also to ensure continuity for our pharma development strategy based on the interdependence between hospitals and pharmacies, all 6 new pharmacies being in or near a hospital. We strongly believe that the pharma area will have an important contribution for the patient of the coming years, for maintaining the health of the population and the country’s economy and will be very connected to medical services in order to offer integrated solutions for the medical needs of tomorrow’s patient” said Mihai Marcu, CEO and President of MedLife Group.

The transaction is to be analyzed by the Competition Council. “Once this transaction is completed, the 6 pharmacies will be integrated in PharmaLife’s own network, the total number of units will reach 20 pharmacies, as we recently added another 2 pharmacies in the portfolio, which we also announce with this occasion. Moreover, with the approval by the Competition Council of the two announced pharma acquisitions, Pharmachem and CED Pharma, MedLife group will be the first private medical company in Romania to exceed a quarter of a billion Euro in turnover. It is a clear confirmation related to the performance of a Romanian management, of the Romanian doctors and of the solutions conceived and developed with local resources. It is an additional confirmation related to the fact that we can increase the Romanian capital and, together, we can take the Romanian economy to another level. We will continue the M&A program in 2021, having in this regard discussions with several private medical service providers in Romania, but we do not exclude smaller transactions in neighboring countries. We are proud that a company with Romanian capital, listed on BVB, managed not only to overcome the challenges of the pandemic and to get involved in the community, but also to become a regional leader in private medicine”, said Mihai Marcu.