MedLife pays 7m euros for building to house children's hospital

MedLife, one of the leading players on the private medical services market, will develop a children's hospital in a building acquired in the Băneasa area, following a 7 million-euro transaction. The company signed the agreement yesterday, with the facility to become operational in May 2010.
"We were no longer able to meet demand for medical care services for children," Mihai Marcu, one of MedLife's shareholders, told ZF, explaining the decision to make this investment. He would not specify where MedLife had bought the building from and only said that it was several individual and corporate entities. The building covers 5,200 square metres and was originally designed for offices.
MedLife is controlled by the Marcu family, but shareholders also include an investment fund of Société Générale and IFC (investment divisions of the World Bank). The company estimates a 38 million-euro turnover for this year and an EBITDA of around 7 million euros.