The total revenues of Medicover and Synevo in Romania increased by over 27% in 2018

The total revenues of Medicover and Synevo in Romania increased by over 27% in 2018

Medicover, the international health and diagnostic services company listed on the Swedish Stock Exchange - Nasdaq Stockholm, presented the interim financial report for 2018. Medicover recorded a 15.8% increase in overall revenue over the year, compared with 2017, to 671.6 million euros.

Medicover is present in Romania through the network of Medicover clinics and laboratories and collecting centers Synevo.

"Throughout 2018, we continued organic growth successfully and integrated our newly acquired companies, thus strengthening our presence in the main markets where we operate. The economic conditions in these countries have remained favorable, and we have sought to offer a range of quality services that are easy to access by patients, "said Fredrik Rågmark, Medicover's CEO.

In 2018, the Medical Services Division posted revenue growth of 21.1% to 346.1 million euros. The increase was supported by the performance of the integrated business model and fee for service, especially in Poland and Romania. In 2018, the division has reached a record number of 185,000 new members globally.

The Diagnostic Services Division recorded revenues of 336.7 million euros last year, 10.6% higher than in the previous year.Territorial expansion was a priority in 2018, when 69 new harvesting points were launched, with a total of 570 such centers worldwide.

Cumulative revenues in the Romanian market increased in 2018 by 27.1% to 93.8 million euros, compared to the value of 73.8 million euros reported in 2017. Romania is the third market as a share of total revenues, after Germany and Poland, with a weight of 13.9%.

"We ended the year 2018 with a stronger network and bigger national coverage. Acquisitions made throughout the year, both in Bucharest, Oradea and Oltenia, strengthen our position in the market and bring us closer to patients. In 2019 we will continue to develop, delivering top-quality services complemented by digitization investments and improving patient experience already at a higher level, "said Adrian Peake, General Manager of Medicover Romania.

Medicover's network of clinics in Romania increased by 50% to 37 units in 2018 due to the completed transactions, namely the acquisition of Pelican Hospital in Oradea, the two clinics owned by the Academica Medical Center in Bucharest and the Phoenix Medical Center, an operator private clinic in Oltenia with a network of eight clinics in cities such as Craiova, Targu Jiu, Slatina, Calafat and Dragasani.

"Year 2018 was a year of expansion for Synevo Romania. We have opened 21 new harvesting centers, giving patients in the country easier access to our laboratory services. We have continued to invest in the technological endowment of laboratories and have brought new advanced tests closer to patients. In 2019 we will continue to expand our territory and adopt new digital technologies and tools to help increase patients' satisfaction, "said Laurentiu Luca, Synevo Romania General Manager.

The Synevo network in Romania comprised at the end of 2018 a total of 99 harvesting centers covering 33 counties in the country, respectively 42 cities.