October 17 (SeeNews) - Medical services provider Medicover Group said on Wednesday that it has completed the acquisition of Romania's Phoenix Medical Center for an undisclosed sum.
The acquisition, part of Medicover Group's expansion strategy, is creating a strong position of the company in the southwestern region of Romania, Medicover said in a statement.
"This year is very important for the development of Medicover Romania. We managed to have a strong presence in two key regions in Romania, namely the Northwest by purchasing the Pelican Hospital and the Southwest by purchasing the Phoenix Medical Center," Medicover Romania general manager, Adrian Peake, said.
Phoenix Medical Center is a private medical services provider in Romania's historic region of Oltenia, which owns a network of eight medical centers in Craiova, Targu Jiu, Slatina, Calafat and Dragasani.
This is Medicover's third major transaction in Romania in 2018. In the first half of the year, Medicover announced the acquisition of Pelican Hospital in Oradea, followed by the acquisition of the Academic Medical Center in Bucharest.
Medicover, an international provider of medical and diagnostic services listed on the Swedish Stock Exchange - Nasdaq Stockholm, recently reported a 17.2% increase in revenues from Romanian operations in the first half of 2018, to 42.2 million euro ($48.9 million).
Medicover is present in Romania through the Medicover network of hospitals and clinics and the Synevo laboratories and collection centers.
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($=0.8643 euro)