MedLife, the market leader of private healthcare services in Romania and the only company with Romanian capital among the leading operators of private healthcare services, announces its financial results for the third quarter of this year.

• For the first 9 months of 2022, MedLife recorded a pro forma consolidated turnover of 1.3 billion lei.
• The company confidently pursued its national expansion strategy, both through acquisitions and organic developments, marking 7 new divisions and 13 acquisitions in less than nine months.
• The development of niche services – oncology, ophthalmology – as well as entry into the healthcare segment contribute to the consolidation of the largest diagnostic and treatment platform in Romania, owned by MedLife.
• In the near future, MedLife will continue to continuously develop its portfolio of services at the national level according to the needs of patients. Increasing and strengthening medical excellence remains the main goal of the Group.

Thus, despite the unstable economic context, at risk of recession, MedLife Group recorded a pro forma consolidated turnover of 1.3 billion RON in the first 9 months of 2022, which is 27% more than in the same period last year. According to company representatives, the reported pro forma turnover does not include two important acquisitions: Muntenia Hospital and Provita Group, which are currently pending approval by the Competition Council.

With continued growth in market share in all regions of the country, MedLife has once again demonstrated the ability of a healthy business to adapt regardless of context. Despite high inflation and rising consumer spending, the Romanian group registered double-digit growth for most business segments in the third quarter of 2022. The best-performing units were clinics and hospitals, with growth of 50% and 15% respectively, results that reflect the effects of almost two years of the pandemic, during which Romanians postponed their visits to the doctor for fear of infection or due to restrictions.

“In a context marked by numerous uncertainties and accelerated inflation globally, and implicitly locally, MedLife once again demonstrates its extraordinary ability to adapt, continuing its steady pace of development at the national level. Regardless of the circumstances, our business solutions are driven by patient needs. Health does not take into account war, inflation or economic crisis, which is why we have continued our efforts to offer customized solutions both to the employees of the nearly 10,000 companies in our portfolio and to the millions of patients who cross the threshold year after year of our units.” said Dorin Preda, CEO of MedLife Group.

Accelerated development to expand access to excellent medical services, both comprehensive and niche

The first nine months of 2022 have been busy for the private healthcare market leader, both organically and through acquisitions. To increase access to high-quality medical services, MedLife has organically developed 7 new divisions, including dental clinics, at

Craiova, Ploiesti and Arad under the DENT ESTET brand, new hyperclinics in Tirgu Mures and Deva and niche centers in Arad, Tirgoviste and Craiova.

In addition, in line with the Group’s strategy, MedLife ends the third quarter of 2022 with no less than 13 acquisitions in less than 9 months. According to company representatives, development plans are aimed at expanding through acquisitions with an emphasis on companies with integrated services, such as Medici’s or Provita Group, as well as with the intention of consolidating niches such as oncology, ophthalmology and, more recently, the wellness segment.

Among the companies acquired by MedLife Group in the last 9 months are: Neolife, OncoCard, Medicris Oradea, Profilaxis Timișoara, Medici’s, Opticristal Brașov, Spitalul Muntenia, as well as Sweat Concept gyms and SanoPass digital platform.

In addition to the process of territorial expansion aligned with the needs of patients, MedLife’s investments this year were also aimed at digitalization, innovation and renewal processes at the level of medical equipment and equipment. Simultaneously with the development of the robotic surgery unit at the network’s largest hospital, the first phase of the consolidation of the MedLife Medical Hub, the largest medical park of the Group, was completed.

Prospects for 2023. The rapid pace of acquisitions will lead to a period of settlement and consolidation in the short term

Representatives of MedLife expect 2023 to be difficult from an economic point of view, but they count on the fact that the health care market has proven its resilience and can more easily cope with various crises compared to other industries. In addition, the company relies on the agility of the management team to adapt the strategy according to the context.

In the coming year, the Romanian group plans to continue developing its portfolio of services, especially in niches, but in the short term it announces a period of adjustment and consolidation as a result of intense acquisition activity in recent months.

“The consequences of the pandemic, war, inflation, energy crisis – all this boomeranged on the whole of Europe, including on the business environment in Romania. Fortunately, MedLife found us to have a very well-articulated business strategy and we were able to continue our expansion plans through acquisitions and organic sales.

We will continue to proceed with caution, depending on the context and market trends. It is only natural that after the accelerated expansion of the last few months, there will be a period of subsidence and consolidation at the group level. In parallel, we will continue to offer support to large and medium-sized companies, as well as startups, to support their business during this difficult period for the business environment. At the same time, we will be with other patients who cross our threshold every day with personalized solutions, their needs are a priority in our entire decision-making process,” said Mihai Marku, President and CEO of MedLife Group.

Today, MedLife Group stands out as the most powerful diagnostic and treatment network in Romania, which has 700 own and partner facilities throughout the country. More than 5.5 million unique patients have now sought prevention, wellness, treatment and hospitalization services in the MedLife network, and nearly 800,000 employees benefit from healthcare subscriptions through MedLife Subscriptions.