Stem Cells Bank is one of the most modern and well-equipped stem cell banks in south-eastern Europe, MedLife said in a statement. Stem Cells Bank operates in capital Bucharest and in the western city of Timisoara.
Upon completing the transaction, MedLife will be holding the majority stake and the current shareholders will be holding the minority stake and will keep managing the company in the future.
In 2010, MedLife bought 80% in the group Policlinica de Diagnostic Rapid in Brasov. The acquisition topped EUR3 million and is the largest operation for the purchase of a local medical services provider in Romania by another local medical services operator. The transaction was followed by two more acquisitions involving Diagnosys Arad and Eva maternity hospital in Brasov.
In 2015, MedLife acquired a 55% stake in the group of firms Centrul Medical SAMA and Ultratest, one of the largest medical operators in southwestern Romania, with operations in Craiova, Ramnicu Valcea, Slatina, Calafat and Balcesti.
MedLife’s turnover rose 16% on the year in January-September, to EUR67.8 million, and is expected to exceed EUR100 million for the whole 2015.
MedLife has been operating on the Romanian market since 1996. It currently has 15 clinics, 18 laboratories, ten hospitals, 30 GP medical centers, 13 centers of excellence, eight PharmaLife Med drugstores and partnerships with 140 medical clinics across the country.