MedLife opens the second private hospital and takes to acquisitions outside Bucharest

MedLife medical services provider plans to open the second private hospital this year, in a central area of Bucharest, and launch another three clinics, two in Bucharest and one in Cluj, with investments poised to go beyond 20m euros. In parallel, the firm says it is in advanced talks for several acquisitions outside the capital city. “The development plan for this year will be more aggressive than ever. We’ve budgeted maximum expenditures of 20m euros for organic growth, namely for the hospital and clinics segment. We also want to have acquisition-based growth, being in advanced talks with 3-4 operators outside Bucharest,” stated Mihail Marcu, MedLife chairman. The new hospital, for which Marcu estimates an investment of around 15m euros, will have a higher capacity than the one the company currently owns in Grivita area, having 150-200 beds. The company, which ended 2009 with 26m-euro turnover and 5.6m-euro EBITDA, expects to reach 32-34m-euro turnover this year and 7m-euro EBITDA.