DENT ESTET announces the acquisition of the full package of shares of Timisoara Clinic

• The transaction represents a new stage in the strategic aquisitions program for consolidating DE leading position at national level

• Increase of 55% in operating income for Timisoara Clinic in Q1 2021, compared to the same period last year

• The DE 4 Kids Timisoara represents 30% of the group's children's dentistry division

• DENT ESTET - pole of attraction for new national acquisitions

Bucharest, June 8, 2021: DENT ESTET Group, market leader in the field of dentistry services in Romania, announces the acquisition of the full package of shares of Timisoara Clinic, the growth engine of the DE 4 KIDS division in the first quarter of 2021.

DE 4 KIDS Timisoara was inaugurated in 2013, as a result of a strong partnership, well respected locally. It was the first DENT ESTET clinic opened in a city other than Bucharest and the second one dedicated exclusively to children, being, at the same time, a concept introduced for the first time in Romania by the group's management. The clinic has accepted the challenge of developing in a competitive market, applying the same standards of excellence and the same culture of sharing and mentoring that characterizes DENT ESTET vision.

“For DENT ESTET, Timisoara Clinic was the first step taken towards the national extension of our concept, to bring dental treatments at international standards closer to Romanians and to contribute to changing the perception of the importance of oral health. In our endeavor, we received the support of some prestigious doctors from Timișoara and personalities of the local university education, so the results did not take long to appear. The operating incomes registered in 2020, but also in the first three months of this year, confirms the position acquired by the Timisoara Clinic on the dental market in the west part of the country, as well as the interest of our patients to benefit from the advantages offered by everything that the DENT ESTET brand means", says Dr. Oana Taban, Founder & General Manager of the group.

DE 4 KIDS Timisoara Clinic, the engine of growth of the children's dentistry division within the group

Thanks to an efficient management and the involvement of a team of over 30 specialists and employees, the Timisoara Clinic quickly gained the leading position on the dental services market dedicated exclusively to children, in the western part of the country.

In eight years of existence, over 10.000 patients have benefited from the expertise of a multidisciplinary team, of high-performance treatments to the highest standards, the DE 4 KIDS Timisoara representing, in 2021, 30% of the group's children's division revenues.

In the first quarter of this year, the KIDS Division recorded an increase in turnover of 44% compared to the same period last year, the clinic in Timisoara being the engine of this growth, with operating revenues 55% higher than in Q1 2020.

"We built a strong team in Timisoara, a team that brought many innovations in pediatric dentistry in our country and which became a landmark for the healthy development of children in the west of the country. We work with doctors who stood beside us from the beginning, and the project has grown year by year, so this takeover of the full package of shares is a natural step in its evolution. I consider that it is a business model to follow and for this reason I will continue to offer support to the group in the expansion process and in consolidating the position of clinics in Timișoara”, says Erika Ionescu Cioată, Managing Partner DENT ESTET 4 KIDS Timișoara.

DENT ESTET - attraction pole for new strategic acquisitions

The takeover of the 100% stake in Timisoara Clinic is part of an ambitious strategic aquisitions program, in order to consolidate the leading position of the DENT ESTET group on the Romanian dentistry market.

“Although we have all faced a difficult year, due to the pandemic, the financial results recorded by DENT ESTET in 2020, but also in the first months of this year, show that, for Romanian patients, the quality of services prevails when they are interested in their dental health. The expansion strategy at national level, established since the partnership signed in 2016, was an ambitious one, and the year 2021 is announced to be an unprecedented one in the organic development of the group of dental clinics. By taking over the full package of shares of Timisoara Clinic, DENT ESTET continues its development plans in this area, the next step being the extension of services to the adult segment", says Mihai Marcu, President and CEO of MedLife Group.

Attracted by the advantages offered by belonging to a strong partnership, such as the implementation of specific medical and management protocols, access to state-of-the-art technology, but also to mentoring programs under the tutelage of internationally certified doctors, the interest of dental clinics in the country to become part of DENT ESTET brand has grown exponentially lately.

DENT ESTET opens two new clinics in 2021

In the first three months of 2021, the DENT ESTET Group of clinics registered a turnover of 22 million lei, increasing by 37% compared to the first quarter of 2020. Compared to the forecasts for 2021, these operating revenues are above the budgeted level.

These figures certify, once again, that the brand's mission to facilitate Romanian patients' access to the best medical care and to provide them with a positive experience, through the certainty of a correct diagnosis and the expertise of a successful medical team, was the key to success.

With the support of MedLife Medical System, the largest private healthcare operator in Romania, DENT ESTET continues its expansion plans at national level, by opening new clinics in Ploiești and Craiova, in the second half of 2021.

The DENT ESTET group portfolio will thus include 13 multidisciplinary clinics in Bucharest, Timisoara, Sibiu, Brasov, Ploiesti and Craiova, for all age groups, 3 divisions of excellence, unique in Romania (Implant Division, Esthetic Division and Advanced Orthodontic Division), the first digital dental laboratory – Aspen and 3 specialized digital photo studios – Future Smile Design.

About DENT ESTET

DENT ESTET Group is market leader in the field of dentistry services in Romania since its establishment in 1999 and is recognized for its contribution to the development of the private dental surgical field in our country.

The list of major innovations that DENT ESTET brought to the market includes DENT ESTET 4 KIDS (2008) and DENT ESTET 4 TEENS (2012), the first dental clinics in Romania and in Eastern Europe dedicated exclusively to children and teenagers and, last but not least, DENT ESTET founded the Dental Office Managers Association (ADOM), which trains the first generation of managers for dental clinics.

Starting 2016, DENT ESTET is a member of the MedLife Group, the largest private health care service provider in Romania.

About MedLife

MedLife is the largest private medical provider in Romania. The company operates the largest network of clinics, one of the major networks of medical laboratories, multi and monodisciplinary hospitals and it has the largest client base for Health Prevention Packages at national level. Also, sales-wise, it is one of the major private healthcare companies in Central and Eastern Europe.

The stock issued by MedLife SA is traded on the spot regulated market, managed by the Bucharest Stock Exchange, under the Premium Category, ticker symbol “M”.

MedLife Group has a successful history regarding both organic and also by acquisition growth. Since 2009 the company has opened or bought over 145 medical units. Its strong and experienced management team has been able to create and manage these growth opportunities, acquiring valuable experiences and knowledge, allowing it to find the best way for carrying on the expansion process successfully