International Healthcare Systems (part of SofMedica group) plans to conduct investments worth 22.3m euros by 2010, with a view to opening 10 new dialysis centres, and eventually plans 13 such centres, with turnover expected to reach 27.2m euros.
"Investments in at least 10 new dialysis centres (which will be carried out between 2007 and 2010) will reach 22.3m euros and will be partially sustained through financing from Alpha Bank, through a credit line worth 13.5m euros, and partially from our own, and other financing sources," Cristina Grigorescu, Finance Manager at International Healthcare Systems (IHS), told ZF.
The centres will be located in Bucharest and in the east and centre of the country. IHS will launch its next units in Braila (in the second quarter of 2008) and in Fundeni.
"We are considering securing the necessary financing through a capital increase or floatation. This is a medium-term plan, currently under analysis. The company is also interested in expanding on other markets, such as Bulgaria and Cyprus," added Cristina Grigorescu.
IHS first entered the market in May 2005 with two centres and, at the time, was one of the first two companies to receive the green light from the Health Ministry to start functioning.
Silviu Tatut, a Business Analyst at IHS, said investments in expansion would be reflected both in turnover and in the number of employees. As a result, from around 150 employees at present, IHS could have over 605 employees in late 2010. Turnover will rise from 6.25m euros (this year's estimated value) to over 27m euros in 2010.
According to a survey conducted by ZF, IHS is among the top ten providers of healthcare services in Romania. The entire market is estimated to be worth around 200m euros. In addition, an above 20% sustained growth rate and steady high profit margins are extremely appealing for investment funds, which have acquired stakes in most of the top operators.
IHS plans
Plans to conduct investments worth 22.3m euros by 2010, with a view to opening 10 new dialysis centres, and eventually plans 13 such centres, with turnover worth 27.2m euros.
The new centres will be located in Bucharest and in the east and centre of the country, with the next units set to open in Braila (in the second quarter of 2008) and in Fundeni.
Pentru alte știri, analize, articole și informații din business în timp real urmărește Ziarul Financiar pe WhatsApp Channels
