"Henry Dunant" Hospital: This is why they rushed to go to auction

The plan of divestiture of "Henry Dunant", in such a way as to serve the private interests in Health, had been agreed long ago. Although the acquisition of the hospital was considered a strategic move that would strengthen significantly the position of any investor in the field of private health, the liquidity problems of the private health groups, due to debts in EOPYY, the rebate and the clawback, did not leave much room for claiming. Furthermore, potential investors will not put their hand in their pocket for a hospital that has debts of about 300 million Euros.

The interest of "Hygeia" group, (which belongs to the MIG, in which major shareholder is the Piraeus Bank), for "Henry Dunant" considered certain, however, there was liquidity problem. This interest was confirmed, (apart from taking up the management of Dunant by Hygeia, for the period of liquidation), via what Mr. Kartapanis said in the ordinary general meeting of the "Hygeia" last May, according to an article in the "capital.gr"

The General Assembly was monopolized by the developments in "Henry Dunant" and the upcoming auction. Mr. Kartapanis had characterized the hospital as "strong brand name" and expressed confidence that it will quickly regain its "good name".

According to executives of "Hygeia", the conditions of sale of "Henry Dunant" hospital via an auction was much more favorable than a year ago, (when the contest in order to find an investor went bad), since now, whoever take over the hospital and its operation (although then had not been voted yet the amendment for the assignment of the license), will not "inherit" the debt.

Executives of "Hygeia" group asserted also that it is very difficult to change the use of the building, so the "Henry Dunant" must be sold together with the operating license and its brand, because, as mentioned above, is a "strong brand name".

All these problems seem solved, as evidenced by the recent events. The amendment of the Health Minister, Makis Voridis, on September 18, ensured that along with the premises and equipment is also transferred the license and the "strong brand name". Also, the new owner, the company HEMITHEA SA takes the hospital free of debt and limited to the price of 115 million Euros. The Piraeus Bank, in whose group allegedly belongs the HEMITHEA SA, secures almost all lending to the "Henry Dunant".
If soon "Henry Dunant" passes in "Hygeia" Group, then the latter will escape through this process from the problem of "liquidity" that prevented it to appear as a buyer.

From the temporary management of "Henry Dunant" by "Hygeia", was deemed as imperative to restore its reputation, since last May the monthly turnover of the hospital did not exceed 2 million Euros when, before the intensification of economic problems, its revenue had excess the 10 million.

So, it is revealed, that the new owner of "Henry Dunant" will have a "gold mine" in his hands, free from debts. It has been also revealed, for who legislate the government of Samaras, as the amendment of Voridis comes as an answer to all the concerns of the investors in private health in Greece.