Euroclinic, Bucharest's first private hospital, has earmarked a budget of at least 5 million euros to directly enter the sector of private clinics.
"We are open to any opportunities. We have plans for both greenfield projects and acquisitions, and intend to continue to increase our range of medical services as well as focus on private health insurance," Catalin Popa, CEO of Euroclinic, told ZF.
Popa, 37, became CEO at the beginning of last year, following a three-month period of interim management, after Radu Dop left his position in October 2006. Previously, Popa had been chief operating officer at the hospital since April 2005.
"We are looking at a development budget of at least 5 million euros, but this is an estimate. Depending on the acquisition opportunities, the sum could increase. The funds are provided by our main investor, the Eureko group, which is willing to increase the investment already made in Interamerican, in Romania, and in the Euroclinic hospital," explained Popa.
The hospital has partnerships with 120 private centres in Romania and has expansion plans targeting areas that are not covered by such centres.
"In 2008, we will be involved in 5 centres. We will start in Bucharest and then move on, in a concentric strategy around the Capital. We are talking about greenfield projects, which could later become involved in acquisitions," said Popa.
With improved economic development spreading to the provinces and large companies already established there, clinic and hospital operators are becoming interested in the potential of these areas.
"The Bucharest real estate market is oversaturated, so there aren't any more locations available for greenfield projects. The market has become too busy. Just as importantly, competition is already high in the Capital," added Popa.
This year, Euroclinic will focus on developing their private medical services, as well as health insurance services, particularly on the corporate sales segment.
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