Prestigious Clinic Illustrates Potential of Private Healthcare
Iowemed Medical Centre opened in 1995 as one of Romania’s first private clinics. It was founded by Dr. Ionica Ciortan, a paediatrician, and her husband Teofil Ciortan. She explains, “I decided to open this clinic to focus on patient care. Our guiding principle is to love and serve our patients. I am completely at my patients’ service, day and night, and this was not possible in the state-run system of the past.”
Dr. Ionica Ciortan has assembled a staff of around 130 highly trained medical professionals who share her commitment to ensuring their patients’ well-being. In addition to the quality of its care, the clinic stands out for its modern technologies and equipment, including a state-of-the-art laboratory developed in partnership with Bioclinica Laboratories SA, the Romanian representative of Germany’s prestigious Limbach Laboratories. Dr. Ionica Ciortan says, “Having our own laboratory allows us to conduct quick and accurate medical analyses so that we can diagnose problems and find treatments.”
Successful business venture
Another key to the success of Iowemed Medical Centre is its management by Teofil Ciortan, who has boosted the clinic’s growth through his modern management style, awareness of healthcare trends and business expertise. Rather than relying on outside financing, they have reinvested the clinic’s profits so that it will continue to improve and grow.
Teofil Ciortan advocates changes in Romania’s healthcare sector which would stimulate the development of high-quality private healthcare services. He says, “Allowing the private health insurance companies to access part of the mandatory contributions of Romanian employers to the National Health Insurance Fund, would lead to better financing of the private healthcare sector and then naturally to better services for patients.”
Romania’s healthcare sector offers significant investment appeal, Teofil Ciortan believes, since per capita healthcare spending for ambulatory care in Romania is only around two to three Euros per year. “Compare this to the amounts allocated for healthcare in Germany or the Czech Republic, and you have an idea of the potential of the Romanian healthcare market,” he points out.
The Ciortans want to expand Iowemed Medical Centre to meet growing demand and they welcome partnerships with strategic investors. Teofil Ciortan explains, “We are willing to share part of our business with a strategic investor in a real partnership. With the right investment, we could double or triple our turnover very quickly.” Dr. Ionica Ciortan adds, “Since we are in an emerging economy, it will be more difficult for us alone than with a partner. Together, as a European team, we can be stronger and better.”