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In 2019, PZU Zdrowie’s revenues increased 47%, due to organic growth and acquisitions, the PZU Group announced in a communiqué.
Two major acquisitions of PZU Zdrowie in 2019
The year 2019 was a time of intensive development for PZU Zdrowie. In March, the company announced the acquisition of part of Falck’s Polish operations. The acquisition involved 32 facilities in 14 cities – multi-specialist medical centres, outpatient clinics and company outpatient clinics (the acquisition did not cover emergency and medical transport segments).
In the second half of 2019. PZU announced that it had signed an agreement to acquire a network of Tomma Diagnostyka Obrazowa diagnostic laboratories from Tar Heel Capital. Tomma provides services in more than 30 studios across the country and planned to perform 300,000 diagnostic tests in 2019. It specialises in magnetic resonance imaging (28 instruments) and computed tomography (15 instruments).
Revenue increased by half
Apart from that, PZU was also developing organically (e.g. launching its own medical centres in Radom and Wroclaw) and through other activities (virtual clinic, telekiosk). All this resulted in a record-breaking 47% year-on-year increase in revenues of PZU Zdrowie in 2019. This means that it amounted to nearly PLN 850m, compared to PLN 576m a year earlier. For 2020 it assumes revenues of PLN 1bn and achieving the position of a vice-leader in the private medical industry. In the long run, it wants to become number 1 player.
PZU operates 130 own facilities (including image diagnostics laboratories) and has about 2,200 partner facilities. Total revenues of the PZU Group in 2019 amounted to PLN 24.2bn, with a net profit of PLN 3.3bn.