EUROMEDICA S.A.
Press Release
The Ordinary General Meeting of Shareholders of EUROMEDICA S.A. took place on 19.05.2008. During the meeting, the Company presented the major developments on corporate level, its financial results of the fiscal year 2007, recent developments, and the Administration?s future plans for the Company.
In particular, in August 2007 EUROMEDICA S.A. increased its share capital to 60 million euro and issued convertible bonds amounting to 60.1 million euro. The funds was spent in order to continue the Company's business plan aiming at the creation of new units and the performance of new acquisitions in the Health sector, in addition to the refinancing of bank loans.
With respect to its financial results, the group's earnings before taxes amounted to 31.48 million euro in 2007, compared to 11.21 million euro in 2006 (+181%), whereas earnings after taxes amounted to 21.98 million euro, from 6.35 million euro in the previous fiscal year (+246%). The group's turnover amounted to 191.86 million euro, compared to 158.02 million euro (+21%).
In continuing the implementation of its business plan during 2007, EUROMEDICA acquired a holding, directly or indirectly through its subsidiaries, in 14 Diagnostic Centres, 2 Recovery and Rehabilitation Centres, one Clinic and two commercial companies, in various parts of Greece. Total cost for said investments amounted to 31.8 million euro. It also increased its share in companies it already had a holding in, by investing the sum of 52.2 million euro, of which 49 million euro concern the purchase of IASO shares. EUROMEDICA's participation in the share capital of IASO presently exceeds 12%. Finally, during 2007 it acquired, through their merger, its subsidiaries "GENERAL CLINIC OF THESSALONIKI S.A.", "EUROMEDICA WESTERN MACEDONIA S.A" and the "MEDICAL INSTITUTE OF HIGH TECHNOLOGY OF CRETE S.A.".
It is noted that during the present year of 2008, the EUROMEDICA group has already acquired a holding in an additional seven units, newly established or old, amounting to an investment of 13.3 million euro.
Through the addition of all units cited above, the EUROMEDICA group presently possesses a network of 59 healthcare units throughout Greece and, in particular, 13 clinics, 4 rehabilitation centres (one of which is temporarily operating as a luxury hostel) and 42 diagnostic centres (two of which are under construction).
The company's immediate plans include the creation of three Recovery and Rehabilitation Centres in Thessaloniki, Patras and Kavala respectively, the completion and operation of a clinic in Corfu, the creation of an Oncological Clinic in Thessaloniki, in addition to the further expansion of the network of diagnostic centres it possesses.
In particular, in August 2007 EUROMEDICA S.A. increased its share capital to 60 million euro and issued convertible bonds amounting to 60.1 million euro. The funds was spent in order to continue the Company's business plan aiming at the creation of new units and the performance of new acquisitions in the Health sector, in addition to the refinancing of bank loans.
With respect to its financial results, the group's earnings before taxes amounted to 31.48 million euro in 2007, compared to 11.21 million euro in 2006 (+181%), whereas earnings after taxes amounted to 21.98 million euro, from 6.35 million euro in the previous fiscal year (+246%). The group's turnover amounted to 191.86 million euro, compared to 158.02 million euro (+21%).
In continuing the implementation of its business plan during 2007, EUROMEDICA acquired a holding, directly or indirectly through its subsidiaries, in 14 Diagnostic Centres, 2 Recovery and Rehabilitation Centres, one Clinic and two commercial companies, in various parts of Greece. Total cost for said investments amounted to 31.8 million euro. It also increased its share in companies it already had a holding in, by investing the sum of 52.2 million euro, of which 49 million euro concern the purchase of IASO shares. EUROMEDICA's participation in the share capital of IASO presently exceeds 12%. Finally, during 2007 it acquired, through their merger, its subsidiaries "GENERAL CLINIC OF THESSALONIKI S.A.", "EUROMEDICA WESTERN MACEDONIA S.A" and the "MEDICAL INSTITUTE OF HIGH TECHNOLOGY OF CRETE S.A.".
It is noted that during the present year of 2008, the EUROMEDICA group has already acquired a holding in an additional seven units, newly established or old, amounting to an investment of 13.3 million euro.
Through the addition of all units cited above, the EUROMEDICA group presently possesses a network of 59 healthcare units throughout Greece and, in particular, 13 clinics, 4 rehabilitation centres (one of which is temporarily operating as a luxury hostel) and 42 diagnostic centres (two of which are under construction).
The company's immediate plans include the creation of three Recovery and Rehabilitation Centres in Thessaloniki, Patras and Kavala respectively, the completion and operation of a clinic in Corfu, the creation of an Oncological Clinic in Thessaloniki, in addition to the further expansion of the network of diagnostic centres it possesses.