MedLife S.A. — M&A Activity 2020

Nov 19, 2020

Pentru detalii suplimentare vă stăm la dispoziție:

MedLife Medical System consolidates its position in the Capital City and announces the acquisition of the full package of shares of Veridia Medical Center, known as Basarab Medical Center

• Through this acquisition, MedLife expands its network of COVID laboratories to 5 units
• The company also plans other acquisitions in the next period
• Supporting patients for the services they need and the authorities in the fight against the COVID pandemic remain the priority actions of MedLife group during this period

Bucharest, November 19, 2020: MedLife Medical System announces the acquisition of a 100% stake in Veridia Medical Center in Bucharest, known as Basarab Medical Center.

Veridia Medical Center has been operating on the private medical services market for 17 years, being a traditional player in the Capital City. It started its activity with a medical analysis laboratory and later consolidated its position by developing a large medical center that incorporates 20 offices and which provides specialized medical services, general medicine consultations and consultations of different specialties, paraclinical investigations, treatments and minor surgeries. Additionally, for blood sampling for laboratory testing, the medical center includes four sampling points, located in the neighborhoods of Berceni, Militari, Drumul Taberei and Pantelimon.

Since the beginning of September this year, Veridia Medical Center, through the molecular biology laboratory, is in partnership with the Public Health Directorate (DSP) for RT-PCR testing, designed to detect SARS-CoV-2 virus, with a capacity of 400 samples per day.

"Through this acquisition we consolidate our position in the Capital City and on the market of clinics that offer medical services in relation to NHIH. In addition, we are expanding our network of COVID-19 laboratories, thus managing to respond to an even greater number of requests on the testing side, requests that come both from the authorities and directly from patients. Veridia, known mainly as Basarab Medical Center, has a well-cohesive business structure, with good results and a great potential for growth and development. As we have repeatedly announced, our main actions in the last period have been focused on supporting patients for the services they needed, but also the authorities in the fight against the spread of the virus, acting instantly depending on the context. But we did not stop working on the other expansion and acquisition programs, even if at a slower and more cautious pace. Therefore, we analyzed the market well, and the decision to introduce a company like Veridia in the group is a good one, especially in the context in which we are talking about a medical services company that has adapted very well to the context, came to the support of the state through COVID testing and offered patients screening services that meet the current needs", said Mihai Marcu, President and CEO of MedLife Group.

At the same time, Veridia is one of the relevant providers of medical services under contract with the Health Insurance House of Bucharest, covering over 25 specialties, including allergology, ENT, endocrinology, obstetrics-gynecology, pediatrics, cardiology, pneumology, gastroenterology and neurology. For the corporate segment, the medical center plays an important role, as it also provides companies with occupational health services.

Pentru detalii suplimentare vă stăm la dispoziție:

Alis Lupu PR Specialist Mobil: 0746 46 46 34 E-mail: alupu@medlife.ro http://www.medlife.ro

"We are happy and honored by this partnership and that we can be part of MedLife group. For us, it represents a huge opportunity for development, because we will benefit both from the know-how of a top company in the medical area, and from the expertise in the area of financial and organizational management. At the same time, we are glad to see that our efforts have been appreciated, and here I am referring to the fact that we managed, due to the experience and professionalism acquired, to offer RT-PCR testing to the population of Bucharest. We have a strong team of specialists, high-accuracy diagnostic kits, a testing flow which respects safety and protection measures, thus meeting all criteria, providing results in a short time to requests" said Gabriela Mocanu, CEO Veridia Medical Center.

Through the acquisition of Veridia Medical Center, MedLife group reaches a portfolio of 27 acquired companies, the last announced being Micromedica Medical Center. "We have other acquisitions planned and we will announce them as we move forward with them," said Mihai Marcu.

About MedLife:

MedLife is the largest private medical provider in Romania. The company operates the largest network of clinics, one of the major networks of medical laboratories, multi and monodisciplinary hospitals and it has the largest client base for Health Prevention Packages at national level. Also, sales-wise, it is one of the major private healthcare companies in Central and Eastern Europe.

The stock issued by MedLife SA is traded on the spot regulated market, managed by the Bucharest Stock Exchange, under the Premium Category, ticker symbol "M".

MedLife Group has a successful history regarding both organic and also by acquisition growth. Since 2009 the company has opened or bought over 145 medical units. Its strong and experienced management team has been able to create and manage these growth opportunities, acquiring valuable experiences and knowledge, allowing it to find the best way for carrying on the expansion process successfully.