The DIAGNOSTIC & THERAPEUTIC CENTER OF ATHENS HYGEIA S.A ("Hygeia") announces the acquisition of a 50% stake of the share capital and the majority of the BoD of SAFAK GROUP ("Safak"), following satisfactory completion of the financial and legal due diligence exercise and the signing of the Sale and Purchase and Shareholders agreements, for a consideration of USD48m.
Completion of the transaction is subject to the approval of the Turkish Competition Board.
The Safak Group, one of the top three hospital groups in Istanbul, consists of four hospitals in the Istanbul metropolitan area providing 470 total beds; these are the JF Kennedy Hospital, the Avrupa Safak Hospital, the Istanbul Safak Hospital and the Goztepe Safak Hospital, which cover all medical specialties (including Maternity) and are fully equipped. In 2007, Safak Hospitals treated in excess of 240,000 patients while the cumulative number of patients treated by Safak Hospitals to date is in excess of 1 million. Together with its partner, Hygeia aims to attain a position of leadership in the Turkish private healthcare market. The acquisition of Safak is part of Hygeia?s strategy to create the largest integrated healthcare services group in Southeastern Europe.
Hygeia is the investment arm in the healthcare services sector of MARFIN INVESTMENT GROUP (MIG), which is the major shareholder of Ηygeia.