Completion of transfer of 75% stake in Euroclinic by Eureko to Global Finance’s latest buyout fund; Eureko retains remaining 25%(18/12/2008)Eureko B.V., and Global Finance have announced the completion of the transaction – signed in July 2008 – whereby Eureko, the parent company of Interamerican in Greece has transfered a 75% stake in Medicom Systems S.A., the holding company for Euroclinic Athens and Euroclinic Children, to South Eastern Europe Fund L.P. ('SEEF'), a fund advised by Global Finance; Eureko retains the remaining 25%.The Euroclinic facilities have 220 beds collaborate with more than 2,500 doctors and over 85,000 patients were treated last year. Global Finance and Eureko, by leveraging their expertise in healthcare intend, through a long-term partnership, to further invest in the healthcare sector to develop and provide innovative high-quality healthcare products and services, and continue to grow the business.The partnership with SEEF will enable Interamerican to focus on its core insurance products, whilst providing customers with access to high-quality healthcare, and will strengthen the co-operation between Interamerican and Euroclinic.Polly Zissopoulou, who has headed the hospitals for a number of years, will step down and pursue her career in other channels. She is owed a debt of thanks on her dedication and commitment to Euroclinic. Dr George Veliotes the Interamerican Health Director and Board member of Euroclinic for several years will temporarily take charge for running the hospitals, where he is well-known and close to the personnel.HSBC acted as the Mandated Lead Arranger for the debt and was subsequently joined in this role by Millennium Bank.
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