MedLife buys majority stake in Onco Team Diagnostic lab

Romania’s privately-owned medical services provider MedLife Group [BSE:M] said on Tuesday it has acquired majority ownership of Onco Team Diagnostic, a local pathologic anatomy and molecular biology laboratory, according to SeeNews.com.

Onco Team Diagnostic joins the group’s laboratories that already provide services in this segment, MedLife said in a statement filed with the Bucharest Stock Exchange, BVB.

“This is the first step of the expansion and development project approved by the shareholders a few months ago. A sustained period of acquisitions will follow, at the end of which we want to consolidate our leading position,” the president and CEO of MedLife Group, Mihai Marcu, said.

The value of the deal was not disclosed.

Bucharest-based Onco Team Diagnostic Laboratory has 6 years of activity on the market.

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