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Med Life S.A. - M

Signing of syndicated credit facility

Release Date: 11/2/2018 9:25:53 AM

IRIS Code: 1948B

MedLife announces a new syndicated credit facility between the Company and a syndicate of banks


The syndicate of banks consists of Banca Comerciala Romana, Raiffeisen Bank, BRD Groupe Societe Generale and Banca Transilvania


Bucharest, November 1, 2018: MedLife Board of Directors has signed a syndicated credit facility with Banca Comerciala Romana, Raiffeisen Bank, BRD Groupe Societe Generale and Banca Transilvania for refinancing its existing facilities, extending the maturity of the loans, rearranging the related terms and conditions and raising new funds up to a total amount of 66 million euros.


The additional credit facility of 10 million euros will be a term facility and will be used by MedLife, along with the Company's own cash, for potential new acquisition opportunities arising on the market.


The syndicate of banks consists of Banca Comerciala Romana as coordinating mandated lead arranger, facility agent, security agent and lender, BRD Groupe Societe Generale, Raiffeisen Bank and Banca Transilvania, as mandated lead arrangers and lenders. The main purpose of the syndicated credit facility is the development of the acquisition program.


"We have the largest portfolio of acquisitions performed as well as the largest know-how in this field, but also a strong organic growth, which maintains our leadership position on the Romanian healthcare market. We aim to remain active on the market in respect of acquisitions, we have proven to be a reliable long-term partner for the founders of the companies, so for the up-coming year we analyze some transactions in order to add new companies and important partners to MedLife Group, possibly from outside the country "declared Mihai Marcu, CEO and President of MedLife.


MedLife’s Board of Directors was authorised and delegated for this purpose at the Extraordinary General Meeting of Shareholders („EGMS”) held on October 8, 2018.


At the same time, another EGMS agenda item referred to the empowerment of the Board of Directors of the Company to decide whether to offer MedLife's own shares to current or former employees or current or former members of the management of the subsidiaries (called Program Recipients) who also have the quality of shareholders of these subsidiaries (group companies, medical units) in exchange for the shares held by the Program Recipients in subsidiaries.


The offering of MedLife own shares to Program Recipients in exchange for shares held by them in MedLife subsidiaries aims alignment at group and compliance with the acquisition strategy, which recognizes and encourages the contribution of the founders of the subsidiaries to the integrated activity of the MedLife Group.





About MedLife:


MedLife is the largest private healthcare provider in Romania. The company operates the widest network of clinics, one of the largest networks of medical laboratories, general and specialised hospitals and it has the largest client database for Healthcare Prevention Packages in the country. In addition, from the standpoint of sales, it is one of the largest private healthcare company in Central and Eastern Europe.


The shares issued by MedLife SA are traded on the spot regulated market managed by the Bucharest Stock Exchange, Premium Category, with the “M” trading symbol.


MedLife Group has a successful history from both organic and acquisition growth perspectives. As of 2009, it has opened or acquired over 83 medical units. Its strong and experienced management team has been capable of creating and managing these growth opportunities, acquiring valuable knowledge and experience, which can allow the Company to find the best way to continue its  successful expansion.









Information provided by IRIS, the news platform of the Bucharest Stock Exchange.


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