Romanian private healthcare provider MedLife reportedly plans to list minority stake

By bne IntelliNews October 3, 2016

Romania’s largest private healthcare provider MedLife is reportedly preparing to list a minority stake on the Bucharest Stock Exchange (BVB), local media reported.

The listing will allow private equity fund Value4Capital to exit the shareholding structure of the Romanian medical services provider. MedLife announced last year the private equity fund could sell its 36.25% stake in the company. MedLife is majority owned by the Marcy family (51%). The other shareholder of the company is the World Bank’s International Finance Corporation (IFC), with 12.75%.

The minority stake could be listed by the end of the year, mirsanu.ro reported. According to the news portal, the European Bank for Reconstruction and Development (EBRD) has also expressed an interest in taking over a stake in MedLife. MedLife declined to comment to bne IntelliNews on the topic.

MedLife has been expanding rapidly in the past year. At the end of September it opened a new clinic in the southern town of Ploiesti, while in August it acquired a 90% stake in Centrul Medical Panduri medical centre. Acquisitions in the past year also include Diamed Center, Prima Medical and Stem Cells Bank and Dent Estet, the largest local dental services provider.

In August it announced plans to borrow €20mn to support its acquisitions. This followed an agreement signed at the beginning of March to borrow €56mn from Banca Comerciala Romana (BCR), ING Bank, Raiffeisen Bank and BRD.

Medlife posted turnover of €58.72mn in the first half of the year, 32.7% up on the year, of which 20% came from organic growth and the rest from acquisitions.

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