TIRANA (Albania), August 24 (SeeNews) – Greece-based company Diagnostic and Therapeutic Center of Athens Hygeia said it has completed the sale of 100% of its wholly-owned subsidiary in Albania to Tirana-based American Hospital.
“The consideration for the transaction amounts to 1 million euro ($1.16 million) approximately and has been calculated on a cash-free – debt-free basis at the time the transaction was concluded,” Hygeia group said in a press release on Thursday.
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The buyer assumed the liabilities of Hygeia Hospital Tirana amounting to 29.5 million euro in total, the statement added.
“The consideration shall be used in its entirety to reduce the company’s bank borrowings,” Hygeia noted.
Hygeia is engaged in the provision of primary and secondary healthcare. Hygeia's portfolio consisted of six private hospitals in Greece, Albania and Cyprus. The company also controls procurement companies for the supply of pharmaceuticals, consumables and implanted devices, according to information posted in the company’s website.
The American Hospital of Albania was established in December 2006 as the first private hospital in Albania. The company has six hospitals in Albania and Kosovo.
($=0.8652 euro)