The 'Diagnostic and Therapeutic Center of Athens Hygeia S.A' ('Hygeia') announces that the sale agreement to Ozturk family of 50% of 'Genesis Holding A.S.' ('Genesis') shares was completed; the company owned the four Safak Group hospitals in Turkey. Hygeia has already raised the amount of 11 million dollars, while an additional 1 million dollars shall be collected within 12 months. At the same time, Hygeia was released from bank guarantees in favor of Genesis and its subsidiaries amounting totally to 15 million euros.
This transaction improves significantly Hygeia cash flows, increasing the amount of cash balances available for management by circa €14.4 million, while it shall encumber Hygeia Group results for the current year by the amount of circa €5.6 million.