The annual Ordinary General Meeting of Shareholders of EUROMEDICA S.A. was held on 08.05.2009 at the Athens Plaza Hotel. During the meeting, the company presented the group's growth during 2008 through the implementation of its investment plan, the financial results for fiscal year 2008, along with the recent developments and the Management's future plans regarding the Company.
In 2008, Euromedica Group acquired 23 new units, either through acquisitions or through the establishment of new companies. Today it owns a network of 77 medical units (17 hospitals, 51 medical centres and 9 rehabilitation centres) along with 5 commercial companies in Greece and 5 medical centers in Albania.
The total amount spent by the company in 2008 for investments in new units and medical equipment exceeded 85 million euro.
During 2008 the Group entered the mental health sector by acquiring a 50% holding in two psychiatric hospitals in Thessaloniki and Karditsa, and by joint venture with medical doctors established a company with the purpose of constructing a psychiatric hospital in Patras. Euromedica Group following its intense activation in the sector of physical recovery and rehabilitation through various corporate vehicles, today it is constructing four rehabilitation centres in Thessaloniki, Kavala, Kozani and Karditsa.
At the financial results level, the turnover of Euromedica Group in 2008 increased by 19.4% compared to 2007, reaching euro 229.12 million from euro 191.86 million. Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) were euro 39.10 million compared to euro 33.04 million in the previous year, significantly increasing by 18.3%.
The Company's immediate plans include its further involvement in the primary and secondary health sector both in Greece and abroad, its further involvement in the sector of rehabilitation centres and the psychiatric sector, and its expansion to elderly care units.