Andronescu puts Sanador clinic at 30m dollars

Medical services company Sanador, a business developed by the Andronescus, will reach an over 30 million-euro market value next year, says Florin Andronescu, a businessman known for developing and exiting the Flanco business. “I would put Sanador’s value at 8 to 10 times the EBITDA, which means the company could be worth 30 million euros in 2008,” said the businessman. Sanador is one of the main operators of private clinics on the local market, who will finish 2007 with an approximately 7 million-euro turnover, while the budgeted increase for 2008 stands at 60%. Next year, the value of the EBITDA could exceed 3 million euros. Andronescu believes the evaluation of medical service companies is influenced by three factors: contracts with health insurance houses, direct payments for health exams and corporate agreements. In the case of Sanador, each of these accounts for around 30% of the total revenues.