Ioana Filipescu: Healthcare services and wind farms are not really an El Dorado

Ioana Filipescu, managing director of Raiffeisen Investment Romania, an investment bank specialising in M&A consultancy, believes there's "inflated interest" in the private healthcare field and it is difficult, almost impossible that all announced projects "should end up well". The main private healthcare operators have announced projects worth above 150m euros in medical facilities, of which over 70m euros this year alone, according to a recent ZF survey. The level is a record high one for this industry. More than 13 clinics have been announced this year, but there are seven hospital projects going beyond 2011. Another "hot" field at the moment is that of wind farm projects, with Romania getting ready for a real boom as regards wind energy projects starting operations this year. "Both trends seem to me to be some patterns that are applied without a deeper working analysis. The healthcare services field is certainly less elastic than others, and the creation of additional capacity in Bucharest, and maybe in a bigger city makes sense, but for everybody to believe it is an El Dorado...It's not quite so," Filipescu says.