Medsana announces plans to go public

Medsana Bucharest Medical Center (BMC), which is one of the largest private healthcare centres in Romania and entirely held by the Greek Company Athens Medical Center, announced its plans for listing on Bucharest Stock Exchange.

The project is in an early stage for the time being and no details regarding this action have been settled yet. The money the company will raise following the floatation will be invested in building a private hospital, Vassilis Chaniotis, Medsana BMC general manager told Ziarul Financiar.

“We are interested in being listed on the Stock Exchange, but who else isn’t? The background is not quite favourable for the time being, as the Romanian Stock Exchange has just begun to have a good name.

The floatation policy is specific for Athens Medical Center, which has been operating in Greece for more than 15 years and was one of the first companies listed on Athens Stock Exchange,” Chaniotis said.

“Medsana must comply with several requirements in order to be listed on the Stock Exchange. Two of these are the share capital increase and shifting from a limited liability company to a joint-stock one. We have drawn up a report for them and we are waiting for the company’s decision now.

In case they feel the possibility of floatation is interesting in the near future, we will begin the necessary procedures. Everything is still in an “embryo” stage, so to speak,” Panos Manopoulos, the general manager of IKKP Rocas&Parteners consulting company told Ziarul Financiar.

Medsana BMC current share capital stands at 1.5 million dollars, while the investments amount to more than 1 million dollars. The company has to increase the share capital from 235,000 dollars now to 2 million euros (1.74 million dollars), which is 7 times more, Chaniotis added.

To increase the share capital, the company is to make a series of investments in Romania. “We’re now working at full capacity and have some 5,000 clients every month. We need to expand because we’re running out of space.

We’re also planning to open another centre in Bucharest, as well as several centres in the country, maybe in Timisoara, Cluj and Constanta,” Chaniotis added.