Page 42 - THE ROMANIAN HEALTH CARE
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The largest private hospitals in 2017 are:
1. Regina Maria, turnover: 120.6m
2. MedLife, turnover: 81.5m
3. Sanador, turnover: 62.2m
4. OncoFort / Gral Medical, turnover: 23.0m
In Annex G are listed the 10 largest private hospitals. The combined turnover of these 10 was
337m euro in 2017. The private hospitals vary a lot in size. The four listed above are by far the
largest, a lot of private hospitals have a modest turnover between 5 and 2 million euro. The
large hospitals are all active in 3 to 12 cities, the small ones only in one city. Apart from the
private hospitals, there are other commercial service providers such as clinics/medical centres
or laboratories. It is estimated that the total private healthcare services market is 1.7bn euro
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in size and grew by 12% in 2017 .
Profitability in the private hospital sector is at best meagre, many report losses in 2017. It is
not uncommon that a hospital runs with losses for several years in a row. For example from
the top 5 largest hospitals: Regina Maria had for all legal entities combined a loss of 10m euro
in 2017, Polisano lost 7.6m, MedLife reported a small loss of 0.5m euro. Sanador presented a
profit margin of 4% and OncoFort / Gral Medical 3.5%. Working conditions for nurses for
example, are less good in private hospitals compared to public hospitals, salaries are lower
and shifts are longer. A study by ING 24 showed that salaries in public healthcare are 30%
above the national average (public and private sector included).
At the moment, the private hospital sector undergoes a restructuring and consolidation.
Probably due to the bad financial results of some hospitals. By the end of 2017 Regina Maria
was the largest private hospital. In 2015, investment firm Mid Europa Partners acquired 100%
of Regina Maria’s shares. In 2016 Regina Maria acquired the Ponderas Hospital 25 in Bucharest.
Generally Regina Maria is expanding rapidly by acquisitions and organic growth, it secured a
European Investment Bank loan of 15m euro. A new hospital will be opened in Cluj Napoca in
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2018 worth 15m euro . Competitor MedLife is listed at the Bucharest Stock Exchange and
controlled Romanian family. Also MedLife is growing organically and acquisition of
by a
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healthcare companies, its most recent acquisition is Polisano hospital and clinics .
5.7 Private medical clinics
Private clinics offer only ambulatory services and have no beds. The services included are
usually general practitioner consults, laboratory analysis various scans. They offer also
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https://www.romania-insider.com/private-healthcare-services-market-2017
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https://think.ing.com/snaps/romania-wage-growth-remains-strong-again
25 http://www.mideuropa.com/media/news/2016/regina-maria-acquires-leading-hospital-in-bucharest
26 https://seenews.com/news/romanias-regina-maria-to-open-15-mln-euro-hospital-in-cluj-583382
27 https://www.romania-insider.com/medlife-buys-polisano-hospital-clinics
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