The group owns in Bucharest a multidisciplinary hospital, two imaging centers, a lab and a pain therapy training center, the only in CEE.
In the coming period, Provita will expand to other major cities of Romania, with Suceava as the first targeted city, where the group will open a specialized clinic. The group will also expand its Bucharest operations by opening a new private hospital, scheduled for the spring of 2024.
“The needs of the patients and the way we respond to them – through a multidisciplinary and empathetic approach to the medical act, are the basis of the activity of the Provita Group. We are happy to find in MedLife a strategic partner that aligns with this vision and with whom we will continue to pursue our main objective of building a network of centers with complex medical services in the coming years, for the largest possible number of patients both from Bucharest, as well as from the other big cities in the country”, said Dr. Ovidiu Nicolae Palea, founder of Provita.
As a result of the completion of this transaction, the existing management team as well as the founders will retain their duties and, similar the other acquisitions announced by MedLife, will continue to be responsible for the development and expansion of Provita’s medical operations as part of the MedLife group strategy.
“The partnership with the Provita Group represents another stage of development, part of the business strategy, which we undertook and brought to the attention of our shareholders since the beginning of this year – the consolidation of diagnostic and treatment services in order to meet our patients in as many medical centers as possible throughout the country. It is the 13th transaction announced this year, a first on the private medical services market in Romania, and we are confident that all these new partnerships will not only help to strengthen the market, but will be a major advantage to increase access to quality medical services at the national level” stated Mihai Marcu, President & CEO of MedLife Group.
The transaction was assisted by the international audit company Mazars and the law firm Mitel & Asociații for MedLife, and the law firm Popovici Nițu, Stoica & Asociații, through Silviu Stoica, and Wise Way Advisors, through Alexandru Medelean, on behalf of the sellers.
With the completion of this acquisition, the MedLife Group will reach a total of 47 transactions, being the operator with the largest portfolio of Romanian medical companies integrated into the group. The company will continue to invest in the development of infrastructure in Romania, the last transaction announced being the one for the integrator digital platform, SanoPass.
(English version by Catalina Apostoiu)