MedLife, Romanian-capital private medical company, has announced the signing of the addendum regarding the increase of the credit limit by an additional amount of EUR 50 million, according to the approval received from shareholders during the 22 December 2023 EGSM, the total value of the borrowed capital thus reaching EUR 268.3 million.
The syndicate of banks that signed the credit limit increase consists of Banca Comercială Română, as coordinator, mandated as main arranger, documentation agent, facility and guarantee agent and financier, Raiffeisen Bank and BRD Groupe Societe Generale as main arrangers trustees and financiers and Banca Transilvania and ING Bank N.V. Amsterdam Bucharest Branch, as main arrangers and financiers.
“(…) We maintain our current objective to gradually improve the profitability of the Group, as well as the debt ratio calculated as Net Debt / EBITDA. For this objective, we have the support of the multiple investments carried out in the last two years, which will deliver important results in the next period”, said Mihai Marcu, President and CEO of MedLife Group.
“We are honored to continue the coordination of the syndicated loan extension for MedLife Group. We support MedLife’s commitment to expanding access to quality services, new medical technologies and advanced treatments and believe in the strategic role it plays in strengthening Romania’s healthcare system”, said Raluca Orha, Syndication Coordinator BCR.
“Healthcare sector financing is essential for the medical infrastructure modernization and we are pleased to be a long-term partner for MedLife, one of the most innovative companies in Romania. The additional EUR 50 million syndicated loan will be used to support MedLife’s expansion and acquisition strategy, which further translates into improving access to top-notch medical services and increasing the sector’s ability to meet the population’s healthcare needs”, said Alina Cernat, Head of Consumer and Services Department, BCR.
Last year, the company invested in technology at an unprecedented level, opening at the end of the year a large hospital in Bucharest, Provita-Nord, modernized and gradually expanded the Medical Park hospital in Bucharest, invested in new clinics of radiotherapy in Brăila and Vâlcea, as well as in three new surgical robots in different locations in the country and started, for the first time in Central and Eastern Europe, the transport by drones of biological samples.
”Looking carefully to 2024, we continue to focus on consolidating and optimizing the companies within the MedLife Group, given that this strategy proved its effectiveness last year. We are dedicated to continuing this healthy business trend with solid growth, entering a cycle of gradual increase in margins and a slightly lower level of debt in the next 12-18 months”, Mihai Marcu also said.
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