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Romania's MedLife acquires occupational health centre Medicris

Romania's MedLife acquires occupational health centre Medicris Source: MedLife

BUCHAREST (Romania), June 24 (SeeNews) - Romanian private healthcare services provider MedLife Group [BSE:M] said on Friday it has acquired 100% of occupational health and related services provider Medicris based in the western city of Oradea.

With this transaction, MedLife is consolidating its portfolio of services for patients and subscribers in Bihor county, MedLife said in a statement filed with the Bucharest Stock Exchange.

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"This new transaction means a natural expansion of the portfolio of services for our patients and subscribers, Medicris Oradea being the largest provider of occupational health services in Bihor, to which are added several other related specialties," MedLife Group executive director Dorin Preda said.

The value of the acquisition was not disclosed.

Medicris has been active for over 20 years on the private medical services market in Oradea and offers outpatient medical services that integrate nine medical specialties: occupational health, ophthalmology, internal medicine, ENT (ear, nose, and throat), psychology and others. Currently, the clinic has a portfolio of over 22,000 subscribers.

MedLife 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 currently operates in nearly 700 own and partner locations, including over 230 clinics and hyper-clinics.

On Tuesday, the group announced it has signed an agreement to take over an 80% stake in Timisoara-based Medici's Group.

MedLife's shares traded 1.55% higher at 20.25 lei ($4.3/4.09 euro) at 1247 CET on Friday on the Bucharest Stock Exchange.

(1 euro=4.9471 Romanian lei)

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