In the first half of this year, revenues derived by Medicover Romania reached 1.9 million euros, 16% more than revenues reported in the first six months of 2003. The figure obtained during the April-June period stood at one million euros, according to the group's half-year report.
"The number of our customers rose by 33% in the first six months as compared to the corresponding period of 2003 and by 55% as compared to the year 2003 overall, reaching 25,000 members," the report reads.
The company's development plans for this year include the opening of a new clinic in Bucharest and the expansion of activities to large cities in Romania.
At the same time, the company's representatives consider that the law on private insurance introduced by the Romanian authorities will boost private persons' and employees' contributions to the health system.
"We think this evolution will result in a significant increase in funds directed towards the medical sector in Romania and we are currently analysing ways to get involved in this new market opportunity," remarked the aforementioned source.
In 2003, Medicover Romania derived revenues worth 7.6 million dollars. The company operates five medical centres - two in Bucharest, and one in Focsani, Cluj and Constanta.
This year the company will invest 1-1.5 million euros in the opening of a network of eight medical labs, to be managed by the company Synevo.
The activities of the two units were split last year, following a decision to separate their activities at an international level.
Medicover, a Swedish-owned company listed on the Stockholm stock exchange, is the largest medical services company in Central and Eastern Europe. The Medicover network includes Poland, Hungary, Romania, Estonia and the Czech Republic.
For H1, the Medicover group reported revenues standing at 17.7 million euros, 12% higher as compared to the same period last year. The company has 200 employees, 60 of which are doctors. The lab division of the group posted a 75% increase in H1 to 3.6 million euros.
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