BUCHAREST (Romania), November 11th (SeeNews) – Romanian private medical services company MedLife [BSE: M] said Thursday it signed a contract to buy 100 shares of OcoCard hospital in downtown Brasov for an undisclosed amount.

Talks about this takeover began at the end of 2019, but were postponed in connection with the Covid 19 pandemic and resumed at the beginning of this year, MedLife said in a statement submitted to the Bucharest Stock Exchange, BVB.

The transaction is still subject to the approval of the Romanian competition authorities. Once approved, it could become the MedLife Group’s second-largest transaction in 2021, following the acquisition of Neolife Medical Center announced in late October.

The OncoCard Hospital, founded in 2012, is based on an innovative concept of integrative medicine that begins in the diagnostic phase of the oncological patient and covers the entire period of specific active therapies. From the opening to the present day, the OncoCard Hospital Brasov has invested 24 million euros. In 2020, the company recorded consolidated sales of 56.4 million lei, an increase of 21% over 2019.

“As we announced, 2-3 other major M&A deals are in progress. We are investing and aiming to expand the network in Romania, which is already much larger than any other private network, with much higher coverage in the county and in Bucharest level, “said Mihai Marcu, CEO and President of MedLife Group.

“At the same time, we want to strengthen our presence outside the borders. After more than ten years in which we have been national leaders, it is high time to prove that we can also become one of the regional leaders, ”Marcu continues.

The MedLife share was quoted on Thursday at 1344 CET on BVB, 2.19% higher at 23.3 lei (5.4 USD / 4.7 euros).

(1 euro = 4.9489 lei)

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