On the Romanian private healthcare market, there is only one Romanian-held business that has an over 1,000 headcount, MedLife (over 2,500 employees).
“The number of employees increased significantly amid the rising occupancy rate at the hospital,” said Doris Andronescu, general manager of Sanador.
The company operates three clinics in Bucharest, a lab and also Romania’s largest private hospital (in Bucharest). In 2013, the company reached revenue of 143.4 million lei (EUR32.4 million), up 24% from 2012 and above initial estimates. This year, the company wants to hit RON157.5 million in revenue.
The opening of the hospital, a EUR40 million investment, reflected in Sanador’s revenue, which doubled during 2011-2013 interval.
After the first two months of 2014, the company’s revenue had advanced by 20% against the similar period of 2013.
On the private healthcare market, where most companies have bet on corporate subscriptions and grown through acquisitions and investment in network expansion, Sanador has embraced a different strategy, counting on new services to boost revenue.
In terms of strategy, Sanador does not plan to expand outside Bucharest.
In 2013, Sanador turned into the black, reporting a net result of RON3.5 million, from losses of almost RON1 million in the previous year. For 2014, the company has budgeted net profit of RON7.7 million (EUR1.7 million). The company’s 2014 investment budget stands at RON4.5 million.
In Bucharest there are at least ten large and medium-sized hospitals, to which tens of clinics are added, making up the most packed private healthcare market in the country.
Overall, Romania’s private healthcare market is valued at EUR500-600 million.
(English version by Catalina Apostoiu)