Romania: Medlife increases stake in Genesys Arad to 68%

MedLife Medical System, the largest private medical operator in Romania, has increased its stake in Genesys Arad, one of the largest private medical services providers in the western part of the country for €3m (US$3.4m).

It has taken an additional 7% stake in Genesys Arad and now holds a 68% stake in the company.

MedLife acquired a 55% stake in the group in 2011 for €3m and increased its stake to 61% in July last year.

MedLife Genesys includes a large hospital, maternity, outpatient unit and laboratory. Over the years, the group has developed several medical centres in the cities of Deva, Hunedoara, Petrosani, Drobeta Turnu Severin and Targu-Jiu, the most recent inauguration being the centre of radiology and medical imaging, the only one in Arad that has digital radiological equipment.

Since 2010, MedLife group has completed 26 acquisitions.