Henry Dunant to Acquire Euromedica Hospitals

In a preliminary agreement, IMITHEA SINGLE MEMBER S.A., owner of the “Henry Dunant” Hospital, has reached an understanding with Farallon Capital Management for the acquisition of the core assets of the EUROMEDICA Group, owned by the latter, following the separation of the Diagnostic Centers.

The acquisition includes six General and Maternity Clinics in Athens, Thessaloniki, Rhodes, and Kozani, one Rehabilitation Center in Thessaloniki, as well as stakes in other Rehabilitation Centers and companies specializing in Supplies, Information Technology, and Real Estate Management.

The goal of the acquisition is to establish one of the largest healthcare groups in Greece, providing secondary care services through a network of hospitals and clinics with broad geographic coverage across the country.

This new conglomerate is set to employ over 2,500 individuals, boasting more than 1,380 secondary care beds nationwide. It will have the capacity to treat over 120,000 cases annually and serve more than 750,000 outpatient incidents within its clinic network.

It should be noted that the acquisition process is ongoing, pending approval from the competent Competition Authority and obtaining the required legal clearances.

In mid-2022, the two companies had agreed to merge through the absorption of the EUROMEDICA Group by IMITHEA. However, the deal did not materialize.

“Henry Dunant” became part of the special-purpose company and subsidiary of Piraeus Bank, IMITHEA, in 2014 for €115 million. The restructuring plan (in 2014, the hospital was burdened with debts of €90 million, with total obligations reaching €300 million) envisaged a three-year certification of good operation and funding amounting to €180 million.

A few months ago, the Henry Dunant Hospital Center received Joint Commission International (JCI) accreditation for the second consecutive three-year term, reaffirming its absolute compliance with the requirements of the globally recognized healthcare service accreditation standard.

Source: tovima.com