Attica Ventures: € 5 million investment at the Erasinio Hospital
29 September 2009
Attica Ventures has successfully completed a new investment. It is a health sector investment in the Erasinio Hospital. This € 5 million investment is Attica Ventures' largest investment to date.
The Erasinio Hospital, whose total cost is estimated at € 90 million, is the largest investment currently being made in the health sector in Greece. This impressive investment, with a total surface area of 55,000 m2 and 220 beds, is being built in an outstanding location in the Vari area of Attica, and is the first private oncology hospital in Greece.
Key shareholders in the Erasinio Hospital are the Restis Group, the Loisios Family, a group of leading specialist doctors from Greece and abroad, as well as Attica Ventures. It is expected that overall this investment will create more than 700 new full-time jobs. The hospital is expected to be operational in 2010.
The private healthcare services market is valued at over € 7 billion and all forecasts indicate that it is expected to continue to grow at a similar rate over the years to come.
Mr. Giannis Papadopoulos, Attica Ventures' CEO stressed that, “Given our experience from previous (highly successful) investments in the health sector, it goes without saying that we are interested in investing in that market. We opted to invest in the Erasinio Hospital because it is a cutting-edge investment in an excellent geographical location, with important shareholders / investors, and a management team and doctors who guarantee that it will be viable in the long-term”.
Attica Ventures was established in 2003 by Attica Bank (the first Greek bank to set up a venture capital management company) and has been managing the Zaitech Fund, a € 40 million venture capital fund, since 2004 whose investors are Attica Bank and TANEO. Today it is considered to be one of the most successful venture capital management companies in Greece, having made 10 investments to date in Greek SMEs thereby supporting their growth and development and the creation of 1,000 new jobs. Four of those investments have already been admitted to trading on the Athens Exchange (mastihashop, Doppler, Performance Technologies and Foodlink). The last company to list on the exchange (Foodlink), one of the largest Greek companies in the third party logistics market, began trading on the exchange last August.
FROM THE ATTICA VENTURES PRESS OFFICE
A few words about ATTICA VENTURES: Attica Ventures S.A. was established in September 2003, and is a member of the Attica Bank Group of companies. Its corporate scope is to manage venture capital funds. Attica Bank is the first bank to participate in a venture capital fund and establish a specialised subsidiary to manage such a fund.