MedLife reported 56 percent turnover growth after nine months of 2021

MedLife, the leader of the private medical services market in Romania, ended the first 9 months of the current year with a pro-forma consolidated turnover of RON 1.2 billion, increasing by 56.5 percent compared to the same period in 2020. The reported increase is due to last year’s crisis, but is also based on the intense activity of the last period on the laboratory segment, outpatient units, especially on the monitoring of chronic pathology and patients who have gone through Covid.

Regarding pro-forma EBITDA, an increase of 54.6 percent was registered, compared to the same period last year, the figure reported for the first nine months of 2021 being RON 240.4 million, compared to RON 155.4 million registered in 2020.

According to the company’s representatives, all business lines were on an upward trend in the first 9 months of this year, which indicates both a higher concern of Romanians for prevention services and an incresed preference of patients for medicale services and surgeries performed in private hospitals, in the context of the pressure generated by the pandemic in the public healthcare system.

“The first 9 months of this year have maintained a very dynamic trend, and the results confirm our strategic efforts to invest in laboratories, outpatient units and hospitals. In fact, we will continue to focus on this direction, with development plans aimed, inter alia, at adapting the concept of outpatient unit, which aims to be available to the patient 24 hours a day, to set up the most modern research laboratory in the field of virology and also expand the network of hospitals as multidisciplinary hospitals, so that patients can access all range of services in multidisciplinary medical centers at national level”, said Mihai Marcu, CEO and President of MedLife Group.

MedLife’s priorities for the end of 2021 continue to focus on the territorial acquisition and expansion program, with company representatives announcing the possibility of concluding a major new transaction in the near future; the research division, which continues to play an extremely important role in monitoring the pandemic, by conducting studies exclusively with its own resources; amplifying the digitization process, which will continue in the first months of next year, by developing new applications and updating technology in laboratories, clinics and hospitals, so as to meet the needs of the patient in 2022.

The company is also continuing the process of developing the MedPark project, the largest medical hub in the country. According to MedLife representatives, the pilot project would be launched in Bucharest in 2-3 years, and the model will be replicated in other large cities in the country, such as Brasov, Sibiu, Cluj, Arad.

In terms of financial perspectives for the end of 2021, after reaching the threshold of a quarter of a billion euros last year, MedLife has premises to become this year the first private medical company in Romania to reach one third of a billion euros.