MedLife enters the wellness segment and announces the signing of the
acquisition for Sweat Concept gyms
- MedLife acquires the majority stake of Sweat Concept network and thus enters a new business segment, which complements the diagnostic and treatment medical services offered nationwide.
- The Covid 19 pandemic has proven more than ever that health monitoring, exercise, sports and proper nutrition are the best tools for defending our health well before treatments and vaccines.
- Romania must enter the 21st century and provide fiscal facilities to the population that wants to stay healthy, thus contributing to the relief of the National Health Fund
- Sweat is the newest concept of gyms in Romania, built on customer needs, where you can have access to premium equipment and personalized training schedules
- Sweat will develop rapidly in the coming years throughout the country with the ambition to become the leader of these services. MedLife subscribers will soon benefit from new facilities regarding access to Sweat Concept services.
Bucharest, July 4, 2022 – MedLife, the leader of the Romanian private medical services market, announces a new large-scale partnership, following the signing of the acquisition of the majority shareholding package of Sweat Concept. The transaction marks the entry on a new line of business, wellness, which complements the complex medical services offered nationwide.
Sweat is the newest concept of gyms in Romania that integrates complete solutions for all user objectives, whatever these may be: weight loss, relaxation, muscle toning or preparation for a sports competition. Currently, the network includes 4 locations in Bucharest equipped with premium equipment and technologies, provided by Matrix, a global leader in fitness equipment. At the same time, each unit is equipped with smart consoles that allow counting and displaying repetitions, activity time and rest time for a complete training experience. Other cutting-edge devices include: Sweat Workout Tracking, application that allows the user to monitor the course of his training activity, regardless of the chosen location or the programs he has followed, or My Zone, an application that gives you real-time feedback during training with the belt of the same name that can be purchased at the reception. In addition to high-performance equipment and devices, Sweat gyms are equipped with relaxation areas, bio saunas, functional training area or spacious terraces where outdoor training programs are organized, unique as a concept in Romania.
“The new context made us feel a deeper need to take care of ourselves and those around us, in all aspects, from physical to emotional health. And this has accelerated the decision-making process to enter a new business segment. Wellness is no longer the luxury sector of spas nor the exclusive domain of wellness brands. It is a global mindset that goes hand in hand with the lifestyle of each of us. Therefore, we are embarking on a new strategic direction that complements the diagnostic and treatment services we already offer in the largest network of medical units nationwide. Our goal is to become an integrated provider of subscriptions, through easy access to preventive care, exercise and nutrition. We strongly believe that with the integration of this model at national level, we will be able to contribute, over time, to an important improvement in the quality of life of patients in Romania. In addition, we are convinced that sooner or later these subscriptions and services will become deductible because they will massively relieve the expenses of the Public Health System” said Dorin Preda, Executive Director, MedLife Group.
Following the completion of this transaction, the current management team will fully retain its responsibilities, being responsible for the strategy of development and expansion of Sweat Concept network.
“We are pleased to partner with MedLife, the leader of the Romanian private medical services market, with whom we share common values such as health care and the promotion of a healthy lifestyle. In the period to come, the goal is to expand Sweat Concept network nationwide and we are convinced that MedLife is the partner we need to achieve this goal and overcome our limits“, mentioned Laurentiu
Matei, Sweat Concept founder and CEO.
Upon completion of this acquisition, MedLife Group will reach a number of 45 transactions, being the operator with the largest portfolio of acquisitions in the medical field in Romania. The company will continue to invest heavily in growing the Romanian network, with two or three medium-sized transactions and one large transaction.
About MedLife Group
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. It 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.
Med Life SA published this content on 04 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 July 2022 10:02:09 UTC.
Technical analysis trends MED LIFE S.A.
|Short Term||Mid-Term||Long Term|
Income Statement Evolution
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