The new funds will be allocated to strengthen the group’s position at national level, increase its presence regionally, including through the development of regional hospitals, and investment in research.
The syndicate of banks signing the new loan consists of Banca Comerciala Romana, as coordinator, mandated lead arranger, documentation agent, facility & security agent and lender, Raiffeisen Bank, BRD Groupe Societe Generale and Banca Transilvania, as lead arrangers and lenders.
The company will add other considerable own funds, as appropriate.
The expansion of the medical infrastructure and the M&A program are also a priority this year, and MedLife seeks to expand its research efforts, aiming to intensify them through new investments in 2021.
“We have big plans for the coming period. We will continue the research initiatives initiated since the beginning of last year. As we have already announced a month ago, we allocated between EUR3 and 5 million for the arrangement of a new biosafety III laboratory where we will work for the first time with live viruses. The new laboratory will be inaugurated in Bucharest and will become the most modern research laboratory in the area of genetics, virology and molecular biology in Romania. At the same time, we maintain as a priority the M&A program but also the consolidation of the medical infrastructure across the country,” said Mihai Marcu, President and CEO of MedLife Group.
According to company representatives, important emphasis will be also placed on the development of programs and projects in a pandemic context, projects related to prevention, oncology and radiotherapy, tech and digitalization.
In addition to national investment and development plans, MedLife will continue to strengthen its main business segments, clinics, corporate, hospitals, laboratories, pharma and dentistry, with the main direction of adapting services to the current context.
“Quality medical services are a top necessity and private medical services have proven their complementary role during the pandemic. BCR is an active supporter of the Romanian business environment and we are glad to further support the development of MedLife group. Hopefully, more entrepreneurs will follow this example, not just from the medical sector. If last year was one of accommodation to the new reality, we believe this year will be dedicated to investments”, said Oana Macoveiciuc, Head of BCR Consumer Products and Services.
MedLife ended 2020 with pro-forma consolidated sales at group level of EUR251 million, up 25.5% on the year, making it one of the largest players at regional level. Its 2021 consolidated budget plan targets 15% growth in sales and maintaining the group’s current EBITDA margin.