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Hygeia Enjoys Strong Liquidity, Plans Acquisitions


Hygeia disposes of 239 million euro in order to achieve its goal of becoming the biggest health services provider in Southeast Europe. This sum may be boosted by a 200 million euro common bond loan which has been approved by the shareholders meeting and will be issued in case market conditions become favourable.


Hygeia currently focuses on two projects: The acquisition of a hospital in Nicosia and the establishment of a diagnostic centre in Athens.


Sources say that Hygeia is in advanced talks with a hospital in the Cypriot capital and a deal may be reached as early as next month. The company already owns hospitals in Limassol and Paphos.


The Council of State ruled that a recent presidential decree abolishing restrictions to the creation of diagnostic centres is be conform to the Constitution. Under previous legislation, doctors had to own at least 51% of such centres.


Hygeia has looked into several properties to the north-east of Athens which could house its diagnostic centre.


Thanassis Papadis

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