Elim medical center to invest €5 million in new clinic in Bucharest

“One part of the clinic will be functional by the end of this year and the other part, at the beginning of 2009,” the company’s General Manager, Adrian Dumbrava, said. MedLife, the largest player on private medical services market countrywide, invested €1 mln in a new clinic earlier this year.

Elim plans to invest a total €10 mln this year. The company did not provide details on other locations, besides Bucharest. Elim invested €7.5 mln in medical equipment last year.

Dumbrava took over the Elim medical center in 2002, when the business had only one laboratory. “I took over a laboratory with seven employees, I don’t remember how much I paid. I worked ten years in Germany and I realized that this market has growth potential,” Dumbrava said.

Elim currently owns four clinics, two in Pitesti, one in the town of Ramnicu Valcea and one in the sea resort of Techirgiol. Last year, the company posted €1.37 mln in turnover and profit worth €114,000. Dumbrava estimates triple turnover, of €5 mln, for 2008.

He said he is not planning to sell the company for the time being. “I received tempting offers, with fabulous figures, but I want to stay in the business. I will probably have a private hospital in two-three years, with 40-50 beds,” Dumbrava added.

The private medical care market is evaluated by players at €300 mln, with an annual growth rate of 20-30 percent.