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Hygeia Buys 50% Of Turkeys Safak Group

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The Greek health services provider Hygeia has bought 50% of the capital stock and a majority in the BoD of Turkeys Safak group for $48 million, thus confirming the information disclosed by Capital.gr yesterday.

According to a relevant announcement, Hygeia will buy 50% of the real estate property owned by Safak for $5 million, where it will develop a state-of-the-art General Clinic in Istanbul.

Safak ranks among the top three health service providers in Turkey, owning four hospitals with a total of 470 beds in the Greater Istanbul area. These are JF Kennedy Hospital, Avrupa Safak Hospital, Istanbul Safak Hospital, Goztepe Safak Hospital. They cover all medical specialities and served more than 240,000 patients in 2007. Safak groups 2007 revenues reached $64 million while EBITDA stood at $8 million.

Hygeia jointly with Safak, wants to lead the private health sector in Turkey and establish itself as a major player in SE Europe.

Hygeias main shareholder is Marfin Investment Group

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