Medicover (MCOV) Investor Update summary

Business Overview and Strategy

• Achieved significant growth since IPO, now 3.8x larger, driven by organic expansion and selective acquisitions, with a 19% revenue CAGR and 15.5% organic revenue CAGR.

• Operates two synergistic divisions: Healthcare Services (69%) and Diagnostic Services (31%), with strong assets and payer mix in key markets.

• 90% of business concentrated in Poland, Romania, Germany, and India, each with tailored business models and strong market positions.

• Focus on digital transformation, customer engagement, and health impact, with high NPS and strong alignment to UN health objectives.

• Ambitious new targets set for the next three years, leveraging market growth, operational leverage, and technology.

Market and Operational Highlights

• Poland: Largest market with holistic healthcare and wellness offerings, 24% revenue CAGR (2022-2025), and expanding capacity to capture market share.

• Germany: Stable diagnostics market, growth in advanced diagnostics and genetics, and portfolio expansion despite regulatory headwinds.

• Romania: Balanced diagnostics and healthcare business, dual revenue model, and regional diagnostics hub with significant expansion.

• India: Massive market opportunity, recent investments in capacity, targeting affluent urban populations, and focus on digital efficiency.

Technology and Operational Efficiency

• Digital tools and platforms central to patient engagement, operational efficiency, and new revenue streams, with 88% B2B app adoption and 75% online bookings.

• Technology enables scalable growth, with digital health assistants, remote monitoring, and automated workflows planned.

• Asset utilization and operational leverage improved margins as the network matured.

• Technology and digital tools are key to customer engagement, operational efficiency, and new service development.