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Romania's MedLife acquires majority stake in Opticristal clinic

Romania's MedLife acquires majority stake in Opticristal clinic Source: MedLife

BUCHAREST (Romania), August 4 (SeeNews) - Romanian private healthcare services provider MedLife Group [BSE:M] said on Thursday it has acquired 60% of ophthalmological diagnosis and surgery clinic Opticristal in Brasov.

The transaction contributes to the consolidation of the regional hub developed by MedLife in Brasov county, which reaches 16 medical units, including two large hospitals, MedLife said in a statement filed with the Bucharest Stock Exchange.

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The deal was carried out through Policlinica de Diagnostic Rapid (PDR), the first company acquired by MedLife 12 years ago. The value of the transaction was not disclosed.

“Brasov is a crowded market, and this fact determines us to constantly reinvent ourselves. Beyond organic growth, we are very connected to what development through acquisitions means and we want to integrate under our umbrella companies that bring added value for patients, such as Opticristal Clinic, in order to help us have a better territorial coverage," PDR Brasov regional manager George Muscoiu said.

With over 20 years of experience on the market in Brasov, Opticristal Clinic includes both a patient diagnostic center and an ophthalmology surgery center, in which over 2,000 interventions are performed annually. The clinic recorded a turnover of 1 million euro ($.02 million) in 2021.

MedLife currently operates in over 700 own and partner locations, including over 230 clinics and hyper-clinics. In June, the group said it will continue to invest heavily in expanding its network in Romania by completing new medium and large M&A transactions in the period to come.

MedLife's shares traded 1.14% higher at 19.5 lei ($3.96/4.03 euro) at 1000 CET on Thursday on the Bucharest Stock Exchange.

(1 euro=4.9252 lei)