MedLife recorded last year a turnover of 453 million euros, up by 25 percent compared to 2022

MedLife, the largest network of private medical services in Romania, reports a consolidated pro-forma turnover of RON 2.24 billion, up by 25 percent compared to the previous year. At the same time, MedLife managed to gradually recover a large part of its lost margins thanks to the investments from the last years

The company opened at the end of last year a large hospital in Bucharest, Provita-Nord, modernized and gradually expanded the Medical Park hospital in Bucharest, invested in new radiotherapy clinics in Braila and Valcea , invested in three new surgical robots in different locations in the country and, for the first time in Central and Eastern Europe, started the transportation by drones for biological samples.

According to MedLife representatives, almost all business lines continued their upward trend in 2023, highlighting the excellence and high quality services provided in clinics, hospitals and the corporate area, which recorded increases of 35 percent, 27 percent and 17 percent, respectively , followed by laboratories and dental clinics with increases of 15 percent and 2 percent, while pharmacies saw a decrease as a result of the adjustments of the drugs’ portfolio for a more efficient operational management.

“Despite the unstable economic climate, rising costs and inflation, we managed to have a solid growth of 25 percent aggregated at group level, 35 percent in clinics and 27 percent in hospitals. The companies that joined the MedLife Group through M&A activity in the last year added to the Group’s balance sheet a volume of debt that did not allow the relaxation of the associated indicators in the short term, adding, on a stand alone basis, more than 0.7x net debt/ebitda at the consolidated level. However, it is a context that shows us the premises for a strong growth, above the market, especially in Bucharest where, together with the new Provita Nord hospital, we believe that we will be able to take over the position of main private provider of hospital services in the coming years. In this sense, we aim to become the main destination for patients in the Capital for neuro, cardio and oncological surgery and to offer conditions similar to those in the largest capitals of the world. In fact, last year alone we cared for approximately 1.4 million Romanians, unique patients, an indicator of the solid trust they have in our services. This trust is a huge responsibility for us and a catalyst for our mission to provide healthcare at the highest standards. In summary, MedLife is the provider that offers its patients a leading technological development for high-performance diagnostics, robotic surgery and very good doctors, and investors an investment in a company with significant annual growth, in a very promising industry” said Mihai Marcu, president and CEO of MedLife Group.

Currently, MedLife Group owns the largest diagnostic and treatment network in Romania. More than 6 million unique patients have so far used prevention, wellness, treatment and hospitalization services in MedLife facilities, and over 800,000 employees benefit from medical service subscriptions through MedLife subscriptions.

”Looking carefully to 2024, we continue to focus on consolidating and optimizing the companies within the MedLife Group, given that this strategy proved its effectiveness last year. We are committed to continuing this healthy business trend with solid growth, entering a cycle of gradually increasing margins and slightly lower debt levels over the next 12-18 months”, concluded Mihai Marcu, president and CEO of MedLife Group.