M1 Kliniken AG: Market leader for beauty medicine in Germany opens up in the 9th foreign market and prepares market entry in the USA
| Investor News
- 20th Location outside Germany opened in Bucharest, Romania
- Break-even expected for foreign locations within the next 12 months
- Subsidiary established in the USA: Market entry into the world's largest market for beauty medicine expected in 2024
Berlin, 01.09.2023 - M1 Kliniken AG (ISIN: DE000A0STSQ8), market leader for botulinum toxin and hyaluronic acid injections in Germany, is pushing ahead with its foreign expansion in a consistent and cost-conscious manner. This week, a medical specialist center for aesthetic medicine was opened in the Romanian capital Bucharest. Romania is now the 9th foreign market for the specialist in aesthetic beauty medicine. The group thus now operates 58 outpatient centers for aesthetic medicine, of which 20 locations are abroad.
"We continue to see considerable growth potential in internationalization for the coming years. We are just beginning to tap Eastern Europe. There we benefit from lower material and personnel costs combined with high price levels for high-quality medical beauty treatments," says Attila Strauss, Co-CEO of M1 Kliniken AG. "But there are also opportunities for expansion in virtually all other foreign markets that have already been tapped. And of course we want to also continue to develop new markets. Sales and earnings at our foreign sites developed well in the first half of 2023. This makes us confident that we will reach break-even within the next 12 months and once again prove the high scalability of our business model. It is our declared goal to provide broad sections of the population with access to cutting-edge medicine for injectable treatments - and to do so at the best price/performance ratio." Currently, M1 is preparing for expansion in the USA, the world's largest market for cosmetic medicine. In doing so, the Group will initially focus on the US state of Florida. There, the first medical center under the established brand "M1 Med Beauty" is expected to open its doors next year. A US subsidiary has already been established.
Kilian Brenske, also Co-CEO of M1 Kliniken AG, comments: "By entering markets from Australia to Bulgaria, we have been able to build up extensive expansion expertise in recent years. This puts us in a positive frame of mind to compete successfully in the world's largest market."