The snowball effect

Romania is on track to become the most important economy in the region by far, and it has numerous listed companies that have an opportunity to become regional leaders. The growth of the Bucharest Stock Exchange (BVB) has accelerated in recent years: by early 2023, there were 371 companies listed on the main and AeRO markets. Furthermore, the local capital market has attained emerging status based on the FTSE Russell. Since it was founded in 1995 with just nine listed companies, the BVB has gained visibility among investors and entrepreneurs, with more companies tapping into the capital market as a solid funding channel.

On this backdrop, we’re dedicating this month’s cover story to MedLife, a private medical services provider that could not have become the market leader had it not decided to go public, according to Mihai Marcu, the president and CEO of the 28-year-old company, which started trading on the BVB in 2016. MedLife’s successful Initial Public Offering (IPO) came after eight years of zero private listings on the stock exchange, showcasing the capacity of Romanian entrepreneurial firms to attract both domestic and foreign investors and accelerate the growth of the local private sector.

For the past seven years, MedLife has continued its rapid growth as a public company, with its turnover having grown fourfold since 2016, making it the first private medical services operator to cross the EUR 400 million turnover threshold.

Last but not least, MedLife’s listing also brought to the local market new institutional investors who specialised in the healthcare sector. According to Mihai Marcu, the model could be replicated by companies in other industries as well, and they could even attract sovereign funds such as the ones in Norway or Kuwait, which have capital allocations for different industries.

8 MedLife BVB performance highlights potential of romania’s emerging capital market

Entrepreneurship

20 Tranzy.ai startup transforming public transport with smart digital solutions

22 Romania’s startup ecosystem sees limited impact from SVB failure

Marketing

24 Why we should recalibrate expectations around marketing

CITY

28 TIFF your way to ClujNapoca

30 RDW2023: A creative rendez-vous with the city of Bucharest

EDITOR-IN-CHIEF: Anda Sebesi JOURNALISTS: Aurel Constantin, Mihai Cristea, Deniza Cristian, Romanita Oprea, Oana Vasiliu

CONTRIBUTORS: Ovidiu Posirca, Claudiu Vrinceanu

COPY EDITOR: Anca Alexe PHOTO EDITOR: Mihai Constantineanu

PHOTOS: Dreamstime ART DIRECTOR: Raluca Dumitru

PUBLISHER: Bloc-Notes Media Network ADDRESS: 82-98 Calea Grivitei, 1st floor, Hotspot Workhub, District 1, Bucharest, Romania

SALES MANAGER: Roxana Suhan SALES & MARKETING MANAGER: Luiza Luca

PRODUCTION: Dan Mitroi DISTRIBUTION: Eugen Musat

EXECUTIVE DIRECTOR: George Moise GENERAL MANAGER: Catalin Alistari USA

MANAGER: Oana Molodoi FOUNDING EDITOR: Bill Avery

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