ECM Partners has successfully completed the acquisition of a 68% stake in Ygia Private Polyclinic, entrusting its management to the Athens Medical Group. 

The acquisition, which has received all necessary approvals from the Competition Protection Committee, could see ECM Partners' stake in the polyclinic increase to 75% in the near future. This step reinforces ECM Partners' commitment to strengthening their presence in the healthcare industry.

Recognizing the Athens Medical Group's longstanding success in healthcare and secondary care in Greece and abroad, ECM Partners has entrusted them with the management of the hospital. The Athens Medical Group, demonstrating confidence in this venture, is set to acquire a minority share in Ygia Polyclinic shortly.

Since September 25, 2023, Ygia Polyclinic, the largest private hospital in Cyprus with 550 staff members and 180 beds, has been part of GeSY, offering all Cypriot citizens access to top-quality medical and nursing services, including the Accident and Emergency Department.

With this transaction's completion, ECM Partners furthers its strategic goal of playing a catalytic role in strengthening the broader health sector in Cyprus and the Mediterranean region at large. Since March 2020, ECM has held a majority stake in the pharmaceutical industry Famar, following the acquisition of Famar Group's operations in Greece, Spain, and Italy with a total business turnover of €255 million and a workforce of 2,000. ECM also holds a share in the London-based biotechnology research platform Bio-ReCell, specializing in rapid and targeted cellular isolation for cellular and gene therapies.

Savvas Liasis, Chairman of the Board of ECM Partners, expressed confidence in the polyclinic's prospects for development. "Having experienced the polyclinic and its staff recently, we are convinced of its excellent growth potential. With our extensive experience in developing profitably significant organizations, we are now focused on immediate financial reinforcement of Ygia Polyclinic with new capital, and achieving its strategic goals within GeSY, always considering the best interest of our patients and staff."

Andreas Georgallis, Head of ECM Partners Cyprus and Board Member of Ygia Polyclinic, shared his enthusiasm for the completion of the process. He extended heartfelt thanks to everyone who contributed to this positive development. Special mention was made to legal advisors Eraklis N. Kyriakides LLC and Reed Smith LLP, as well as PwC Cyprus, the exclusive financial advisor for this acquisition.

Michalis Papaikonomou, Portfolio Manager of ECM Partners and Board Member of Ygia Polyclinic, added, "There was constructive cooperation with all parties involved in successfully completing the acquisition. We have formed a strong team to manage the polyclinic and look forward to further enhancing its capabilities."

Dr. Georgios Zachariadis, Managing Director of Ygia Polyclinic, believes this development ensures the organization's sustainability. He expressed his belief that ECM Partners' acquisition would decisively contribute to maintaining Ygia Polyclinic's leadership in the healthcare sector, always benefiting the patient and staying true to the values that have made it the first choice for patients for 36 years.