MedLife Plans to Build Largest Private Medical Project in Romania

MedLife said it has acquired a land area of 9,500 square meters and buildings with a built area of 5,000 sqm, while renting additional land area of 2,500 sqm, respectively buildings of 2,000 sqm to build a medical park. The completed project will reach a total built area of approximately 50,000 sqm and will have a total of 1,000 beds in eight buildings.

The MedLife Medical Park project will be adjacent to MedLife Memorial Hospital located in the north-central area of Bucharest, on Calea Grivitei.

The project will be developed in two stages. In the first stage, MedLife Medical Park will have a total built area of 19,000 sqm that will be put into operation in the next 18-24 months. In the second phase, within 3 to 5 years, the company plans to build MedLife Oncological Institute.

At the same time, MedLife Memorial Hospital will be expanded, while the In Vitro Fertilization Center will be relocated and expanded. Additionally, the company plans to open a medical R&D, innovation and training center.

The first phase of the project will be financed mainly from MedLife's own funds, coming from the company's operational cash flow.

MedLife ended 2018 with a consolidated turnover at group level amounting to RON804 million, up 29% compared with 2017.

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