2023
CONSOLIDATED
ADMINISTRATORS' REPORT
Table of contents
3 | Credit facilities contracted by the Group | 10 | |
4 | Financial Analysis | 12 | |
5 | Main Financial Indicators | 15 | |
6 | 2024 Outlook | 17 | |
7 | Non-Financial Information | 18 | |
7.1 | General presentation of the Group's activity | 18 | |
7.2 | Business model | 18 | |
7.3 | Strategy | 19 | |
7.4 | People and resources | 20 | |
7.5 | Quality standards | 21 | |
7.6 | Principles regarding respect for human rights | 23 | |
7.7 | Anti-Bribery and Anti-Corruption Principles | 23 | |
7.8 | Protection of Public Interest Whistleblowers | 24 | |
7.9 | Corporate social responsibility | 25 | |
8 | Corporate governance | 28 | |
8.1 | Corporate Governance Statement | 28 | |
8.2 | Shareholder structure | 28 | |
8.3 | The management bodies of the Company | 29 | |
8.4 | The evolution of shares on the Bucharest Stock Exchange | 34 | |
8.5 | Investor Relations | 36 | |
9 | Risk exposure and Risk management | 37 | |
10 | Corporate Events | 39 | |
10.1 | Corporate events in 2023 | 39 | |
10.2 | Subsequent events to the reporting period | 40 |
Page | 1
MED LIFE GROUP
CONSOLIDATED ADMINISTRATORS' REPORT AS AT 31 DECEMBER 2023
(all amounts are expressed in RON, unless otherwise specified)
1 Presentation of the Group
Med Life S.A. ("Med Life", "Parent Company", or "Company") is a joint-stock company incorporated in 1996, in accordance with the laws and regulations of Romania, with its headquarters in Bucharest, 365, Calea Grivitei, with a share capital of RON 132,870,492, with a nominal share value of RON
0.25. The Company's activity resides in the performance of healthcare services activities through medical centres with national coverage.
MedLife Group is the leading private healthcare services provider in Romania in terms of Sales figures, having a significant market share at a national level.
The companies part of the MedLife Group as at 31 December 2023, and 31 December 2022 are presented below (ownership percentage):
No. | Entity | Main activity | Location | 31 December | ||||||||||||
2023 | 2022 | |||||||||||||||
1 | Policlinica de Diagnostic Rapid | Medical services | Brasov, Romania | 83% | 83% | |||||||||||
SA | ||||||||||||||||
2 | Medapt SRL (indirect)* | Medical services | Brasov, Romania | 83% | 83% | |||||||||||
3 | Histo SRL (indirect)* | Medical services | Brasov, Romania | 49.8% | 49.8% | |||||||||||
4 | Policlinica de Diagnostic Rapid | Medical services | Sfantu Gheorghe, | 66.4% | 66.4% | |||||||||||
Medis SRL (indirect)* | Romania | |||||||||||||||
5 | Bahtco Invest SRL** | Development of building | Bucuresti, Romania | 100% | 100% | |||||||||||
projects | ||||||||||||||||
6 | Med Life Ocupațional SRL | Medical services | Bucuresti, Romania | 100% | 100% | |||||||||||
Distribution of | ||||||||||||||||
7 | Pharmalife-Med SRL | pharmaceutical products in | Bucuresti, Romania | 100% | 100% | |||||||||||
specialised stores | ||||||||||||||||
8 | Med Life Broker de Asigurare | Insurance broker | Bucuresti, Romania | 99% | 99% | |||||||||||
si Reasigurare SRL | ||||||||||||||||
9 | Accipiens SA | Rental activities | Arad, Romania | 83% | 83% | |||||||||||
10 | Genesys Medical Clinic SRL | Medical services | Arad, Romania | 83% | 83% | |||||||||||
(indirect)* | ||||||||||||||||
11 | Bactro SRL (indirect)* | Medical services | Deva, Romania | 83% | 83% | |||||||||||
12 | Transilvania Imagistica SA | Medical services | Oradea, Romania | 83% | 83% | |||||||||||
(indirect)* | ||||||||||||||||
Biofarm Farmec SRL | Distribution of | |||||||||||||||
13 | Pharmaceutical products in | Arad, Romania | 100% | 100% | ||||||||||||
(indirect)* | ||||||||||||||||
specialised stores | ||||||||||||||||
14 | RUR Medical SRL (indirect)** | Medical services | Brasov, Romania | 83% | 83% | |||||||||||
15 | Biotest Med SRL | Medical services | Bucuresti, Romania | 100% | 100% | |||||||||||
16 | Vital Test SRL | Medical services | Iasi, Romania | 100% | 100% | |||||||||||
17 | Centrul Medical Sama SA | Medical services | Craiova, Romania | 90% | 90% | |||||||||||
18 | Ultratest SA | Medical services | Craiova, Romania | 92.2% | 92.2% | |||||||||||
(direct si indirect)* | ||||||||||||||||
19 | Diamed Center SRL | Medical services | Bucuresti, Romania | 100% | 100% | |||||||||||
20 | Prima Medical SRL | Medical services | Craiova, Romania | 100% | 100% | |||||||||||
21 | Stem Cells Bank SA | Medical services | Timisoara, Romania | 100% | 100% | |||||||||||
22 | Dent Estet Clinic SA | Dental care | Bucuresti, Romania | 65% | 60% | |||||||||||
23 | Green Dental Clinic SRL | Dental care | Bucuresti, Romania | 33.2% | 31% | |||||||||||
(indirect)* | ||||||||||||||||
MED LIFE GROUP
CONSOLIDATED ADMINISTRATORS' REPORT AS AT 31 DECEMBER 2023
(all amounts are expressed in RON, unless otherwise specified)
No. | Entity | Main activity | Location | 31 December | ||||||||||||
2023 | 2022 | |||||||||||||||
24 | Dentist 4 Kids SRL (indirect)* | Dental care | Bucuresti, Romania | 65% | 60% | |||||||||||
25 | Dent A Porter SRL (indirect)* | Dental care | Bucuresti, Romania | 33.5% | 31% | |||||||||||
26 | Dentestet Kids SRL (indirect)* | Dental care | Bucuresti, Romania | 34.4% | 32% | |||||||||||
27 | Aspen Laborator Dentar SRL | Dental care | Bucuresti, Romania | 48.8% | 45% | |||||||||||
(indirect)* | ||||||||||||||||
28 | Centrul Medical Panduri SA | Medical services | Bucuresti, Romania | 100% | 100% | |||||||||||
29 | Almina Trading SA | Medical services | Targoviste, Romania | 90% | 90% | |||||||||||
30 | Anima Specialty Medical | Medical services | Bucuresti, Romania | 100% | 100% | |||||||||||
Services SRL | ||||||||||||||||
31 | Anima Promovare si Vânzări | Medical services | Bucuresti, Romania | 100% | 100% | |||||||||||
SRL (indirect)* | ||||||||||||||||
32 | Valdi Medica SA | Medical services | Cluj, Romania | 55% | 55% | |||||||||||
33 | Clinica Polisano SRL | Medical services | Sibiu, Romania | 100% | 100% | |||||||||||
34 | Solomed Clinic SA | Medical services | Pitesti, Romania | 80% | 80% | |||||||||||
35 | Solomed Plus SRL (indirect)* | Medical services | Pitesti, Romania | 80% | 80% | |||||||||||
36 | Ghencea Medical Center SA | Medical services | Bucuresti, Romania | 100% | 100% | |||||||||||
37 | Sfatul medicului SRL | Medical platform | Bucuresti, Romania | 100% | 100% | |||||||||||
38 | RMC Dentart (indirect)* | Dental care | Budapesta, Ungaria | 87.6% | 81.3% | |||||||||||
39 | RMC Medical (indirect)* | Medical services | Budapesta, Ungaria | 87.6% | 81.3% | |||||||||||
40 | RMC Medlife | Holding | Budapesta, Ungaria | 87.6% | 81.3% | |||||||||||
41 | Badea Medical SRL | Medical services | Cluj, Romania | 65% | 65% | |||||||||||
42 | Oncoteam Diagnostic SRL** | Medical services | Bucuresti, Romania | 100% | 79% | |||||||||||
43 | Centrul medical Micromedica | Medical services | Piatra Neamt, | 100% | 100% | |||||||||||
SRL | Romania | |||||||||||||||
44 | Micromedica Târgu Neamț SRL | Medical services | Targu Neamt, | 100% | 100% | |||||||||||
(indirect)* | Romania | |||||||||||||||
45 | Micromedica Bacău SRL | Medical services | Bacau, Romania | 100% | 100% | |||||||||||
(indirect)* | ||||||||||||||||
46 | Micromedica Roman SRL | Medical services | Roman, Romania | 100% | 100% | |||||||||||
(indirect)* | ||||||||||||||||
47 | Medrix Center SRL (indirect)* | Medical services | Roznov, Romania | 100% | 100% | |||||||||||
48 | Spitalul Lotus SRL | Medical services | Ploiesti, Romania | 100% | 100% | |||||||||||
49 | Labor Maricor SRL (indirect)* | Medical services | Bacau, Romania | 100% | 100% | |||||||||||
50 | Centrul Medical Matei Basarab | Medical services | Bucuresti, Romania | 100% | 100% | |||||||||||
SRL (indirect)* | ||||||||||||||||
51 | Pharmachem Distribuție SRL | Distribution of | Bucuresti, Romania | 75% | 75% | |||||||||||
pharmaceutical products | ||||||||||||||||
Distribution of | ||||||||||||||||
52 | CED Pharma SRL (indirect)* | pharmaceutical products | Bucuresti, Romania | 100% | 100% | |||||||||||
in specialised stores |
Page | 3
MED LIFE GROUP
CONSOLIDATED ADMINISTRATORS' REPORT AS AT 31 DECEMBER 2023
(all amounts are expressed in RON, unless otherwise specified)
No. | Entity | Main activity | Location | 31 December | ||||||||||||
2023 | 2022 | |||||||||||||||
Distribution of | ||||||||||||||||
54 | Monix Pharm SRL (indirect)* | pharmaceutical products | Bucuresti, Romania | 100% | 100% | |||||||||||
in specialised stores | ||||||||||||||||
55 | KronDent SRL (indirect)* | Dental care | Brasov, Romania | 100% | 100% | |||||||||||
56 | Medica SA | Medical services | Sibiu, Romania | 39% | 36% | |||||||||||
57 | Dent Estet Ploiești SRL | Dental care | Ploiesti, Romania | 60% | 60% | |||||||||||
(indirect)* | ||||||||||||||||
58 | The Lab Stomestet SRL | Dental care | Cluj, Romania | 33.2% | 30.6% | |||||||||||
(indirect)* | ||||||||||||||||
59 | Stomestet SRL (indirect)* | Dental care | Cluj, Romania | 39% | 36% | |||||||||||
60 | Stomestet Plus SRL (indirect)* | Dental care | Cluj, Romania | 39% | 36% | |||||||||||
61 | Costea Digital Dental SRL | Dental care | Oradea, Romania | 39% | 36% | |||||||||||
(indirect)* | ||||||||||||||||
62 | Expert Med Centrul Medical | Medical services | Galati, Romania | 38.4% | 36% | |||||||||||
Irina (indirect)* | ||||||||||||||||
63 | MNT Healthcare Europe SRL | Medical services | Ilfov, Romania | 76% | 76% | |||||||||||
64 | MNT Asset Management SRL | Holding | Bucuresti, Romania | 50% | 50% | |||||||||||
(indirect)* | ||||||||||||||||
65 | Clinica Life-Med SRL | Medical services | Bucuresti, Romania | 50% | 50% | |||||||||||
(indirect)* | ||||||||||||||||
66 | Pro Life Clinics SRL (indirect)* | Medical services | Iasi, Romania | 100% | 100% | |||||||||||
67 | Onco Card SRL (indirect)* | Medical services | Brasov, Romania | 60% | 60% | |||||||||||
68 | Onco Card Invest SRL | Holding | Brasov, Romania | 83% | 83% | |||||||||||
(indirect)* | ||||||||||||||||
69 | Tomorad Expert SRL | Medical services | Sfantu Gheorghe, | 83% | 83% | |||||||||||
(indirect)* | Romania | |||||||||||||||
70 | IT Repair SRL (indirect)* | Medical services | Targu Mures, | 66.4% | 66.4% | |||||||||||
România | ||||||||||||||||
71 | Medici's SRL | Medical services | Timisoara, Romania | 80% | 80% | |||||||||||
72 | Micro-Medic SRL (indirect)* | Medical services | Timisoara, Romania | 80% | 80% | |||||||||||
73 | Sweat Concept One SRL | Wellness | Bucuresti, Romania | 60% | 60% | |||||||||||
74 | OptiCristal Consult SRL | Medical services | Brasov, Romania | 49.8% | 49.8% | |||||||||||
(indirect)* | ||||||||||||||||
75 | Alinora Optimex SRL | Medical services | Brasov, Romania | 49.8% | 49.8% | |||||||||||
(indirect)* | ||||||||||||||||
76 | Medicris SRL (indirect)* | Medical services | Oradea, Romania | 83% | 83% | |||||||||||
77 | Triamed SRL (indirect)* | Medical services | Oradea, Romania | 83% | 83% | |||||||||||
78 | SC M-Profilaxis SRL (indirect)* | Medical services | Timisoara, Romania | 80% | 80% | |||||||||||
79 | VitaCare Flav SRL (indirect)* | Medical services | Pitesti, Romania | 51% | 80% | |||||||||||
80 | Dent Estet Genesys SRL | Medical services | Arad, Romania | 73.8% | 71.3% | |||||||||||
(indirect)* | ||||||||||||||||
81 | Aspire Dental SRL (indirect)* | Dental care | Bucuresti, Romania | 65% | 60% | |||||||||||
82 | Sanopass SA | Medical platform | Targoviste, | 62.5% | 51% | |||||||||||
Romania | ||||||||||||||||
Page | 4 |
MED LIFE GROUP
CONSOLIDATED ADMINISTRATORS' REPORT AS AT 31 DECEMBER 2023
(all amounts are expressed in RON, unless otherwise specified)
No. | Entity | Main activity | Location | 31 December | ||||||||||||
2023 | 2022 | |||||||||||||||
83 | Muntenia Medical Competences S.A. | Medical services | Pitesti, Romania | 51% | 0% | |||||||||||
(indirect)* | ||||||||||||||||
84 | Bios Diagnostic Medical Services | Medical services | Bucuresti, Romania | 51% | 0% | |||||||||||
SRL (indirect)* | ||||||||||||||||
85 | Centrul de Diagnostic si Tratament | Medical services | Bucuresti, Romania | 51% | 0% | |||||||||||
Provita S.A. | ||||||||||||||||
86 | Medical City Blue SRL (indirect)* | Medical services | Bucuresti, Romania | 51% | 0% | |||||||||||
87 | Laborator Cuza Voda SRL (indirect)* | Medical services | Bucuresti, Romania | 51% | 0% | |||||||||||
88 | Provita Pain Clinic SA (indirect)* | Medical services | Suceava, Romania | 35.7% | 0% | |||||||||||
89 | Policlinica Sf. Ilie SRL (indirect)* | Medical services | Craiova, Romania | 100% | 0% | |||||||||||
90 | Policlinica Union SRL (indirect)* | Medical services | Cluj, Romania | 51% | 0% | |||||||||||
91 | Brol Medical Center S.A. (indirect)* | Medical services | Timisoara, Romania | 56% | 0% | |||||||||||
- These companies are subsidiaries in other subsidiaries in the Group and are included in the consolidation as they are controlled by the entities which are subsidiaries of the parent company.
- Starting January 2024, these companies have changed their legal form from S.A. in S.R.L.
- Starting January 2024, Ghencea Medical Center SA, Clinica Life-Med SRL, Laborator Maricor SRL, Policlinica SF. Ilie SRL, Diamed Center SRL and Centrul Medical Matei Basarab SRL were merged under Anima Specialty Medical Services SRL. ; Accipiens SA, Transilvania Imagistica SA, Bactro SRL and Triamed SRL were merged under Genesys Medical Clinic SRL. ; Biofarm Farmec SRL, CED Pharma SRL, Leti Pharm 2000 SRL and Monix Pharm SRL were merged under Pharmalife-Med SRL.
Business model
MedLife Group business model is focused on providing medical services to clients, both individual as well as legal entities. The Group seeks to capture the private healthcare spending of these clients throughout all stages of the medical act: prevention, diagnosis and treatment, by offering a wide range of medical services delivered in modern, high-quality facilities, by professional teams of doctors, nurses and support staff. The Group places great emphasis on the quality of the services offered to its patients, operating an IT infrastructure and customer service and sales operations that have served over 6 million unique patients, representing over 1 in 3 Romanians.
The Group divides its operations into six main business lines:
- Corporate: the Corporate business line offers health prevention packages HPPs (HPPs) to corporate clients as part of their employee benefit packages. These programmes, which focus on prevention through regular check-ups and access to diagnostic services, complement the legally required occupational health services that corporate clients also contract from the Group as Standard HPP. The Group has a portfolio of over 870,000 HPPs patients.
The HPPs offered by the Group consist of:
- Mandatory occupational health services, which mainly include the provision of annual employee check-ups and more specific services depending on the client's industry. Many companies begin by purchasing occupational health services as Standard HPP and then add benefits under broader HPPs from the same provider for certain or all of their employees, providing an upselling opportunity for the occupational health provider.
- More general, "prevention oriented" health plans, providing expanded access to general practitioners and specialists in the Group's clinics and as well as specific laboratory tests and
Page | 5
MED LIFE GROUP
CONSOLIDATED ADMINISTRATORS' REPORT AS AT 31 DECEMBER 2023
(all amounts are expressed in RON, unless otherwise specified)
diagnostic imaging for higher end packages. The specific services vary depending on the type of package.
- Clinics: the Clinics business line includes the Group's ambulatory clinics and diagnostic imaging services. The Clinics offer general practitioner and specialist consultations, diagnostic imaging services, and some of the clinics also offer day-inpatient services.
The Group's clinics provide a wide range of services delivered mainly in two formats:
- Hyperclinics, a format pioneered by the Group in Romania, consisting of large facilities with surface areas of over 1,000 sqm and more than 20 medical offices. It is a one-stop-shop for clinical examinations and imaging. This format is designed for larger urban areas, with a population over 175,000 inhabitants. The Hyperclinics include, usually, a broad range of imaging services such as: radiology, bone density - DEXA, CT, MRI, 2D-4D ultrasounds and mammography. In the case of new openings, such services may be included, gradually, in the hyperclinics' offering. The hyperclinic locations also host the services of other business lines, such as collection points for laboratories, or pharmacies.
- Clinics, which offer a wide range of services, from general medicine to specialist medical consultations, and aim to serve the basic needs of the Group's PPM patients, but also pay-per- service patients and those who opt for services settled by the National Health Insurance House ("NHIH"). The Group's clinics typically have between 5 to 12 doctor's offices, but there are also smaller satellite clinics in operation, which aim to address the specific situations of the local market. The Clinics are designed for smaller cities, or to serve certain concentrations of patients. The Clinics, with limited capacity and generally limited imaging services, act as referral networks for more specialized services located in hyperclinics.
- Laboratories: the Laboratories business line provides a wide range of services: biochemistry, pathological anatomy (cytology and histology), molecular biology and genetics, haematology, immunology, microbiology and toxicology. The collection points are medical facilities where the Group collects blood and other samples from patients. The Laboratories business line derives most of its revenue from fee-for-service patients.
- Hospitals: the Hospitals business line covers the Group's inpatient activities, which consist of a wide range of medical and surgical specialties. The Group's 15 hospitals are located in Arad, Bucharest, Brasov, Cluj, Sibiu, Pitesti and Ploiesti. The group holds 12 hospital licenses, which comprise the activities of the Hospitals business line. One of the licenses was issued for a hospital unit and 3 other outpatient departments. In addition to these, the Group was granted licenses for 4 day hospitalization units that operate in Clinics' locations in Bucharest, Iasi, Craiova and Timisoara and offer only day hospitalization services. The financial results of these 4 units are recognized in the Clinics business line, the Group considering these units as functional parts of the Hyperclinics.
The Group's 4 maternity hospitals, located in Bucharest, Sibiu, Brasov and Arad, provide patients with interdisciplinary teams of specialists prepared to intervene at any moment of the birth ensuring careful monitoring of the mother and the newborn, high-performance equipment and devices in the labor rooms / operations, in the departments of obstetrics-gynecology, neonatology and ICU, or dedicated advisors. MedLife also has a STEM cell bank, which offers state-of-the-art biotechnology in stem cell processing and which introduced the Sepax 2 system in Romania, the best performing storage system at the moment. The activities of the maternity hospitals are recognized by the Group in the Hospitals business line.
Page | 6
MED LIFE GROUP
CONSOLIDATED ADMINISTRATORS' REPORT AS AT 31 DECEMBER 2023
(all amounts are expressed in RON, unless otherwise specified)
The Hospitals business line derives its revenue primarily from fee-for-service patients. The treatment of patients settled by the Health Insurance House generally refers to maternity, gynecology, cardiology and oncology departments.
- Pharmacies: the Pharmacies business line offers prescription and non-prescription pharmaceutical products, laboratory-prepared products, as well as other related medical products, in the 21 pharmacies units situated, mainly, in the Group's hyperclinics and hospitals or in their vicinity. This business line also has its own laboratory, where customers can benefit from specific products according to their needs and medical recommendations.
- Dentistry: the Dentistry business line offers a wide range of dental services, from simple check- ups to complex surgical interventions. The Dentistry business line is not subject to settlements through the Health Insurance House, all revenues coming from patients through payment per service.
In addition to the 6 main business lines, the MedLife Group, through the acquisitions made, include:
-
Pharmaceutical distribution: Pharmachem is one of the leading pharmaceutical distribution companies in Romania. With a strong focus on providing high quality healthcare products and services, the company plays a key role in the country's pharmaceutical supply chain. By working with a diverse range of suppliers, Pharmachem Distributie ensures that pharmacies and other healthcare providers have access to a diverse range of medicines and medical supplies to meet the needs of their patients.
As a pharmaceutical distribution company, Pharmachem Distributie S.A. is responsible for the storage, handling and transportation of pharmaceutical products from manufacturers to end users. This involves following strict regulations and maintaining a high level of quality control to guarantee the safety and efficacy of the products it distributes. - Wellness: the chain of Sweat gyms, through which MedLife Group strengthens its service
portfolio, the patients having the widest range of medical services: from consultations, investigations and surgical treatments, to wellness, nutrition and sports services. The gyms feature state-of-the-art premium fitness equipment based on movement mechanics and advanced functionality.
2 2023 Developments
The 2023 results confirm MedLife Group's efforts to strengthen its services offered at national level, with a focus on medical excellence and improving patient satisfaction. Despite the unstable economic climate, inflation and rising costs, and after an intense period of acquisitions and organic development, in which 20 projects were ticked off in 2022 alone, the Group focused mainly, during 2023, on the consolidation and integration of the new companies under the MedLife umbrella, and managed to continue its turnover growth trend, simultaneously with a gradual increase in the EBITDA margin compared to the previous year. The investments in medical oncology, and top equipment, the launch of the transport of biological samples with drones and, last but not least, the equipping of three hospitals with state-of-the-art surgical robots, place MedLife at the forefront of medical technology not only in Romania, but also in the region.
Page | 7
MED LIFE GROUP
CONSOLIDATED ADMINISTRATORS' REPORT AS AT 31 DECEMBER 2023
(all amounts are expressed in RON, unless otherwise specified)
2.1 Acquisitions
In 2023, MedLife Group completed two large M&A acquisitions, 3 smaller M&A transactions - two under the umbrella of its second brand, Sfanta Maria, and one under the umbrella of Medici`s in Timisoara and increased its stake in certain subsidiaries:
- Completion of the acquisition of 99.76% shares in Muntenia Medical Competences, transaction announced in 2022;
- Completion of the acquisition of 51% shares in Nord Group;
- Acquisition of 100% shares in Policlinica Sfantul Ilie (under Sfanta Maria)
- Acquisition of 51% shares in Clinica Union (under Sfanta Maria);
- Acquisition of 70% shares in Brol Medical Center (under Medici`s);
- Acquisition of an additional package of 11.5% shares in Sanopass;
- Acquisition of an additional package of 5% shares in Dent Estet Group;
- Acquisition of an additional package of 21% shares in Oncoteam Diagnostic;
- Acquisition of an additional package of 6.25% shares in RMC Group.
Completion of the Muntenia Hospital acquisition
In January 2023, MedLife Group completed the acquisition of 99.76% shares in Muntenia Medical Competences S.R.L., the largest hospital in Arges County, after its approval by the Competition Council. Thus, MedLife Group is consolidating its medical expertise in the hospital area.
Completion of the Group Nord (ex Provita) acquisition
In March 2023, MedLife Group completed the acquisition of 51% shares in Group Nord, after its approval by the Competition Council.
In the 11 years of activity on the market of private medical services, Group Nord has stood out especially in Bucharest, where it is present through a multidisciplinary hospital, 5 clinics, 2 imaging centers equipped with high-performance and ultra-modern equipment, a laboratory for the processing of a wide range of medical analisys and tests, but also through the only pain therapy training center in Central and Eastern Europe. At the end of 2022, Group Nord also expanded outside the Capital, opening a multidisciplinary clinic worth EUR 2.5 million investment in Suceava, where an integrated Pain Therapy center and an integrated breast center operate.
In December 2023, Group Nord opened in Bucharest a new multidisciplinary hospital dedicated to health and life, with a modern infrastructure and the latest technology in the field. With an extensive area of 25,000 square meters, the new hospital has 8 ultra-modern operating rooms, 49 reserves and 107 beds. The hospital also has an Integrated Pain Therapy Center and an integrated Imaging Center with Pet-CT, Scintigraph, Mammogram, X-ray, MRI 3T, CT, as well as 2 conference rooms, designed to facilitate the exchange of medical knowledge, and to organize health education events.
Acquisition of Policlinica Sfantul Ilie (through Sfanta Maria Group)
In February 2023, MedLife Group completed the acquisition of the entire share package of Policlinica Sfantul Ilie in Craiova, this being integrated into the Sfanta Maria network, part of MedLife Group.
Present on the local market since 2000, Policlinica Sfantul Ilie is one of the first private clinics in Craiova. With 12 medical specialties, the clinic offers comprehensive medical services and paraclinical investigations to meet the needs of all patients, thus becoming a point of reference in medical activity at county level.
Page | 8
MED LIFE GROUP
CONSOLIDATED ADMINISTRATORS' REPORT AS AT 31 DECEMBER 2023
(all amounts are expressed in RON, unless otherwise specified)
Among the medical specialties that can be accessed within the polyclinic are internal medicine, cardiology, dermatology, endocrinology, physiotherapy, occupational medicine, neurology, obstetrics-gynecology, ophthalmology, ENT, psychiatry and psychology.
Acquisition of Clinica Union (through Sfanta Maria Group)
In June 2023, MedLife Group completed the acquisition of the 51% majority stake of Clinica Union Medical in Cluj. This clinic was integrated into the Sfanta Maria network.
Clinica Union Medical has over 10 years of experience on the Cluj market and offers a wide range of high-quality services, covering 21 medical specialties: cardiology, dermatovenerology, diabetes and nutrition, endocrinology, family medicine, neurology, obstetrics-gynecology, ophthalmology, orthopedics, psychiatry, psychology and urology. Being in a continuous process of evolution, the clinic integrates the latest techniques and medical devices to ensure treatment for patients at European standards.
Acquisition of Clinica Brol Medical Center (through Medici's)
In September 2023, MedLife, through Medici's, completed the transaction to acquire 70% shares in Brol Medical Center. The Brol Medical Center clinic started its activity in 1996 and has over 25 years of experience in aesthetic surgery. The clinic offers plastic, reconstructive and aesthetic surgery services, dermatological consultations and treatments, as well as nutrition consultations.
2.2 Organic growth
MedLife Deva Hyperclinic
In January 2023, MedLife inaugurated the largest medical clinic in Deva. The unit is distinguished by an elite medical team, but also by an imaging division equipped with top medical equipment. The Deva Hyperclinic completes the network of MedLife units, providing patients with a complete circuit of medical services, from clinical and paraclinical investigations to diagnosis and treatment.
Neolife Valcea Clinic
In September 2023, Neolife Medical Center inaugurated the Radiotherapy and Imaging Center in Ramnicu Valcea. Located in the courtyard of the Obstetrics and Gynecology Hospital, the new clinic brings an innovative contribution to the fight against cancer and represents a significant addition to the treatment and diagnosis of oncological conditions. Equipped with state-of-the-art technology and state-of-the-art equipment, this unit offers complex medical services for diagnosis, monitoring and treatment for cancer patients, with services also under the contract with NHIH.
Neolife Braila Clinic
In September 2023, Neolife Medical Center inaugurated in Braila, the sixth Neolife private medical center in Romania, located in the courtyard of Braila County Hospital. The new center is equipped with state-of-the-art devices and equipment, the medical team being made up of professionals in the field of oncology medicine. Neolife Braila offers diagnostic and treatment services also under
contract with the National Health Insurance House. | . |
. | . |
Page | 9 |
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Med Life SA published this content on 29 April 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 April 2024 19:49:23 UTC.