The transaction is pending approval from Romania’s Competition Council, a standard procedure to be carried out in coming months.
Dent Estet is Romania’s largest dental services operator, with a turnover of EUR5.5 million in 2015 and seven clinics in capital Bucharest and other cities. For 2016, the company targets 20% higher revenue.
After the completion of the transaction, Oana Taban, founder and managing partner of Dent Estet group, will keep the management attributions within the group, being directly responsible with the chain’s development and extension strategy. Taban will also take over the management of the stomatology division within MedLife.
The acquisition of the group of dental clinics is the tenth transaction carried out by MedLife. The first nine transactions have been completed.
MedLife Executive Board Chairman, Mihai Marcu, said Dent Estet is one of the fewest niche businesses in Romania, which had a well-defined business strategy from the very beginning, in terms of company development and extension, boasting a constant growth each and every year.
Dent Estet’s expansion plans target the opening of at least 1-2 units per year, considering that stomatology will become one of the six business divisions within MedLife, alongside hyperclinics, laboratories, hospitals, maternity hospitals and pharmacies.
Medlife ended 2015 with a cumulated turnver of EUR101.5 million and expects a 30% increase in 2016.
„We achieved our objectives for 2015, being the first company in the Romanian private medical system to overshoot the EUR100 million mark. 2016 had a promising start and, in this context, we expect a 20% organic growth, plus acquisitions of at least EUR10 million. We do not rule out even the possibility of carrying out bigger transactions, in which case we shall revise upward the company’s turnover,” Marcu also said.