Medicover has acquired the operations of the lab tests provider Synlab Group in Romania, Turkey, Cyprus, Slovenia, Croatia, and North Macedonia in a transaction worth EUR 71.3 million, the company announced.
The transaction was financed from Medicover’s own sources. It was carried out by Medicover for its diagnostic services division, present in Romania under the Synevo brand.
The acquisition allows Medicover to expand its offer and strengthen its regional presence by accessing three new markets.
The deal will improve earnings per share (EPS), through consolidation. Synergies are expected later as Synlab operations are integrated into Medicover’s infrastructure, advanced testing volumes are centralized, and the procurement process for all markets will be optimized, the company said.
“This acquisition will generate a strong synergistic effect in Romania and Turkey, by expanding the distribution and coverage of our advanced tests at a regional level. At the same time, it will contribute to increasing operational efficiency and optimizing the flow of advanced tests to other laboratories in the Diagnostic Services network, in line with our strategy to fully capitalize on the potential of the fee-for-service model. I am very happy to welcome the Synlab employees to the Medicover family,” Fredrik Rågmark, CEO of Medicover, said.
Synlab offers laboratory diagnostic services for individual clients, healthcare professionals, and hospitals, from routine to specialized analyses, including recommendations for advanced tests, especially in the field of genetics. The operations in the six countries generated revenues of EUR 48 million in 2024. The network has 675 employees, 25 laboratories, and 80 collection centers.
“This expansion allows us to bring an even wider range of advanced tests to a larger number of patients, strengthening our presence in the region and opening new opportunities in three new markets: Slovenia, Croatia, and North Macedonia. In addition, the presence of Synevo’s Central Reference Laboratory in Romania will play a key role in developing and streamlining diagnostic services at a regional level,” Laurențiu Luca, general manager of Medicover Diagnostic Services Central and Eastern Europe, said.
(Photo: Medicover)
simona@romania-insider.com
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