MedLife Borrows EUR19M From BCR For Network Expansion

05.04.2011 By Andrei Circhelan

Romanian private healthcare provider MedLife took two loans worth a total EUR19 million from Banca Comerciala Romana, or BCR, to expand its network by opening new units, company president Mihail Marcu told MEDIAFAX.

The company official added some of the money will be used to launch three hospitals and one hyperclinic.

Previously, MedLife announced it would launch a 120-bed pediatrics hospital and a 50-bed orthopedics hospital in Bucharest, as well as a 60-bed general hospital in central Romanian city Brasov.

Marcu added the four projects are part of a EUR45 million investment plan for the 2011-2013 interval.

The MedLife portfolio includes nine hyperclinics, eight labs, two multiple specialty hospitals and six specialized centers.

In addition, the company is working with 135 partnering clinics nationwide. The company currently has some 1,500 employees.

MedLife is 51% owned by the Marcu family, while private equity fund SGAM Eastern Europe holds 36.52% and the International Finance Corporation holds 12.75%.