Global Finance

31-7-2008 – Eureko B.V., the parent company of Interamerican in Greece, has announced it has agreed the sale of 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.

Under the terms of the agreement, SEEF will acquire 75% of the issued share capital of Medicom Systems Eureko will retain a 25% interest. The transaction, which is subject to the approval of the Greek Competition Authorities, does not include the sale of the Athinaiki and Medifirst.

Both Eureko and SEEF have agreed to form a mutually beneficial long term partnership to invest further in the company, with the aim of developing and providing high-quality healthcare products and services.

Eureko, through Interamerican, remains committed to its health insurance activities in Greece, and will actively continue to further develop its leadership position in this market.

Commenting on the acquisition, Mihalis Madianos, Partner at Global Finance, said: “We are delighted SEEF is teaming up with Eureko to develop a market–leading healthcare platform in the region. The quality of the management team, the results achieved over the last few years and the company's dedication to the patient needs also attracted SEEF to making this acquisition. In partnership with Eureko, SEEF is committed to provide innovative products and services, and continue to grow the business. We believe the investment in this growing and successful healthcare provider represents an exciting opportunity for SEEF and Euroclinic's management, physicians and employees. This investment confirms Global Finance's continued interest and commitment to seek investment opportunities in healthcare in Southeastern Europe and highlights our confidence in the Greek economy and the significant potential for investment in the Greek market.

For Eureko, George Veliotes, Health Director at Interamerican said, As Eureko's – and its subsidiaries' – core business is insurance, it is a logical step to seek a partner which can focus specifically on the operation and future development of the hospitals - so that Interamerican can concentrate on developing its health insurance business and strengthen its leading position in this growing sector. This will further enable us to develop new health insurance products whilst providing our customers with access to high quality health services. I view this as a very positive development”.

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