Med Life S A : Medlife completes the acquisition of the shares in Nord Group (Provita)

Five months after the transaction was signed, MedLife announces the completion of the acquisition of the majority stake in Nord Group (formerly Provita)

• • The new partnership is a combination of the knowledge and expertise of MedLife Group with the specialized medical teams of Nord Group who focus on high performance surgery.

• • Beyond advanced technology and complex diagnostic and treatment facilities, this partnership aims to provide patients with high-quality medical care, assisted by the best Romanian doctors and specialists.

• • Nord Group will continue to expand its services, with the opening of a large multidisciplinary hospital in the north of the capital being the next strategic project.

• • The integration of Nord Group is a new successful transaction for MedLife, which is the only medical group in Romania developed systematically at a national level and the only one controlled by Romanian entrepreneurs, competing against foreign companies and private equity funds.

• • MedLife Group will probably continue to dominate this market, reaching the threshold of EUR 500 million at the end of 2024.

Bucharest, 30 March 2023 - MedLife, the leading provider of private medical services in Romania and the only Romanian-owned company among the top operators of private medical services, announced that it has completed the acquisition of 51% of the shares of Grupul Nord (formerly Provita) after receiving approval from the Competition Council. The announcement comes five months after the new partnership was finalized.

As a result of this transaction, the management of Grupul Nord will maintain its full independence and responsibilities, and will continue its consolidation and expansion plans based on a common national development strategy.

"Our top priority is to retain the founders in the future development of the business. MedLife has not only completed the most acquisitions of partial or full ownership of medical companies but has also become the leading medical group in Romania, thanks to a strong community of Romanian entrepreneurs and in collaboration with Romanian doctors, management, and local resources. Our focus is on providing not only high-quality and excellent medical care but also ensuring the patient's well-being", stated Dorin Preda, Executive Director of MedLife Group.

In the 11 years of activity in the private medical services market, Grupul Nord has been particularly notable in Bucharest, where it is present through a multidisciplinary hospital, 5 clinics, two imaging centers equipped with modern and high-performance equipment, a laboratory for processing a wide range of medical analyses and tests, as well as the only pain therapy training center in Central and Eastern Europe. At the end of last year, Grupul Nord expanded beyond the capital, opening a multidisciplinary clinic worth 2.5 million euros in Suceava, which includes an integrated Pain Therapy Center and an integrated Breast Center.

Grupul Nord's expansion ambitions do not stop there, as it plans to launch a new private medical hospital in Bucharest in the coming months.

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In 2022, MedLife recorded a consolidated pro-forma turnover of RON 2 bn., increasing by 41% comparing to the same period last year, thus becoming the first private operator in Romania to exceed the threshold of EUR 400 m. turnover.

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About MedLife Healthcare System

MedLife started almost three decades ago, has developed healthily and has become the largest provider of private medical services in Romania. Romanian entrepreneurs, who founded this company, invested and got involved to bring change in the Romanian health system, believed in innovation and dared to aim as high as possible in order to offer Romanian patients quality, professionalism, care and respect for their needs.

The company operates the largest network of clinics, one of the largest networks of medical laboratories, general and specialized hospitals and has the largest corporate customer base for Health Prevention Packages in the country. In 2016, MedLife founded Sfanta Maria medical brand, integrated within the medical system and which currently operates with over 60 of its own medical units nationwide, which resulted from acquisition projects and organic developments. MedLife is also one of the largest players in private healthcare in Central and Eastern Europe in terms of sales.

MedLife Group has a history of success in terms of both organic growth and growth by acquisitions. Its strong and experienced management team has been able to create and manage these growth opportunities, gaining valuable knowledge and experience, which will enable to find the best way to successfully continue the expansion.

Being a Romanian company with a tradition, MedLife chose to be listed on the Romanian Stock Exchange, being a model of listings on the local capital market. It has opened horizons, and through the corporate governance it has implemented, it has inspired other local companies to start on this path and help the development of the Romanian capital and economy. The shares issued by MedLife SA are admitted to trading on the regulated spot market administered by the Bucharest Stock Exchange, Premium Category, with the trading symbol "M".

During the pandemic, MedLife managed to play a key role in society and gain leadership in pandemic monitoring through active involvement in the research area.

The company continues to invest in projects with an impact on the local community, in technology and infrastructure. It creates jobs and develops an ecosystem that contributes to the development and maintenance of a healthy Romania.

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Mihail Marcu

CEO