Euromedica S.A. wishes to inform its shareholders and the investment community that it has concluded an agreement to purchase a stake in the company IONIOS GENERAL CLINIC S.A., which was recently granted a license to set up a general clinic on the island of Corfu, and has already proceeded to construct the necessary building, in the area of Triklino, Corfu. The clinic will have 75 beds and a surface area of around 9,000 square metres. The company owns the land (11,360 square metres) on which the building has been erected. The contractors are currently completing the masonry stage of the project. In the first phase of its investment Euromedica will take a 50% stake in the clinic, acquired through share purchase and participation in an increase in share capital, in the total amount of 2,251,100 Euro.
Construction is expected to be completed before the end of 2008 and the clinic will open its doors to patients in 2009. Contacts have already begun with groups of local doctors - from all branches of medicine - who will also participate in the share capital. The arrangement will either be along the same lines as at the GENESIS Clinic in Thessaloniki (where Euromedica and doctors have equal shares) or the DODECANESE GENERAL CLINIC on Rhodes (Euromedica 57%, doctors 43%). The new clinic will complete the network of Euromedica clinics on Rhodes, Crete and Corfu - meeting the health-care needs of island residents while attracting health tourists from other countries.