Medicover Romania Revenue Up 20% In January-September 2018, To EUR66M

Swedish-held private medical service provider Medicover, present in Romania with medical division Medicover and medical laboratory division Synevo, reported 20% higher revenue, of EUR66 million, in January-September 2018, compared with the same period a year ago.

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Synevo reported total revenue of EUR39.4 million, while the Medicover hospital and clinics reported total revenue of EUR26.6 million in the first nine months of 2018.

Worldwide, Medicover reported a 14.7% increase in revenue year-on-year in January-September 2018, to EUR490.4 million, of which the medical services division saw a 18.7% increase in revenue, up to EUR248.4 million, compared with the same period in 2017. The diagnostic services division also saw a 11% advance in revenue, up to EUR250.1 million.

In Romania, Medicover clinics chain grew by 50% to 37 units due to the transactions completed in the first nine months of 2018.

In 2018, Medicover Romania has announced two transactions whereby it bought the Pelican Hospital in Oradea and the Academica Medical Center in Bucharest, as part of its market consolidation strategy.

Synevo also continued its expansion by opening 17 new labs in the first nine months of 2018.

Medicover ranks third on Romania’s private medical services market, with a turnover of RON330 million in 2017, which also includes Synevo’s revenue. The local profile market is dominated by MedLife, which is followed by Regina Maria.

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