“The company is expanding fast, at present we have six clinics in France, Romania, Poland and Germany and by 2020 we expect to reach 20 centers in several European countries,” said Ema Diea, group marketing director at Amethyst Radiotherapy International.
The first Amethyst center was opened in September 2012 near Bucharest and it was followed by those of Poland, Germany and France, and then that of Cluj.
The Cluj project involved EUR10 million (RON45 million) and for the six centers investments totaled EUR50 million (over RON220 million). The 14 projects due to be implemented will involve similar values.
“Our expansion policy is based both on greenfield investments and acquisitions of existent clinics. Depending on the type of investment and the size and complexity of each project, we expect investments of between EUR8 and 12 million for each new center,” added Ema Diea.
In this context, the company will invest at least EUR112 million (almost RON500 million) in the 14 new centers.
Amethyst has positioned itself on the niche of radiotherapy services, a field that has been little tapped in Romania’s private healthcare because of the high equipment investments.
Should the expansion projects materialize, Amethyst will become the biggest investor on the healthcare market.
The six centers employ over 160 specialists.
In May 2014, the centers raised funding worth EUR21 million (RON93 million) from Accession Mezzanine Capital III LP, a venture capital fund that invests in the region.
Ema Diea says the investment granted by Accession Mezzanine Capital III LP did not involve any change in the shareholding structure of Amethyst Radiotherapy.
The company that operates the centers is R.T.C. Radiology Therapeutic Center (having as shareholder the Cyprus registered company Amethyst Radiotherapy LTD. In 2013, it generated revenue worth EUR4.7 million (RON20.6 million), placing it on the 27th position in the ranking of the biggest players in healthcare, an industry worth above EUR1 billion (around RON5 billion), according to an analysis based on Trade Registry data.
“For 2015 we forecast an almost 100% revenue increase. Growth will be generated both by the organic growth of existent clinics, and by the new projects set to be launched during the year,” said Ema Diea. The company did not disclose 2014 revenue.
(English version by Catalina Apostoiu)