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Greece

 

“Come back in the autumn” NHS tells Greek hospitals

The Greek government has passed a law which promises to pay public NHS insurers bills in 2011 in 45 days.  The bad news is that operators face a haircut on the massive 2009-2010 backlog. Meanwhile, the plethora of public insurers are to be united....
May 10, 2011

Healthcare services M&A up sharply

After four and a half months M&A volumes in healthcare services in Europe at €4bn in 2011 have already surpassed the €2.9bn achieved in 2010, according to Martin Henrichs of Credit Suisse, speaking at the Healthcare Europa Laing & Buisson Investing in Healthcare conference. He also outlined the sectors and regions investors are most interested in and at how funding was changing....
April 27, 2011

Euromedica CEO quits as Greece continues to dive

Takis Doumanoglou has quit as chief executive of Axon Holdings, the parent company of Greek hospital chain Euromedica. An ex-banker, he was widely regarded as the financial pilot for the troubled group.  Meanwhile, the government has said it plans to rationalise and merge many of Greece’s 132 public hospitals. Analysts expect shocking fourth quarter results from the Big Four quoted private hospital groups next month. We look at the prospects....
March 24, 2011

FREE BLOG The terrible lesson from Greece

It is instructive and terrifying to look at what has happened to private healthcare in Greece – particularly if you live in another of the PIIGS.

To meet the deficit targets, the Greek public sector which sub-contracts operations to the private Greek hospitals has stopped paying operators...
November 22, 2010

Greece to privatise procurement to cut corruption

The Greek minister of health has announced his intention to privatise the procurement system for Greek hospitals, through an international call for tender, which will be issued in 2011. The aim is to squeeze corruption and inefficiency out of budget of roughly €10bn....
November 22, 2010

Bioiatriki talks to Unilabs

Bioiatriki, the big Greek diagnostic group which has some of the most impressive labs in Europe, is in discussions with Unilabs....
September 22, 2010

Alliance and Euromedic in talks

Imaging and dialysis group Euromedic has been talking about acquiring troubled imaging services provider Alliance Medical. Euromedic gets a new credit line in October and the two companies are a good fit. There is a possibility that Euromedic might sell its dialysis arm....
September 9, 2010

Growth slows as recession bites

The bad news is that our latest survey of the top 100 hospitals in Europe has found that top managers expect growth rates to drop over the next year across Southern Europe. The good news? Outside of Greece and, possibly, Spain and Portugal, further actual declines don’t look likely....
July 23, 2010

Greek patient numbers could fall 35%

Greek patient flows into the big four big private hospital groups dropped 10-15% year on year in the first quarter of 2010 and analyst Iakovos Kourtesis, at National P&K Securities, reckons they could fall a total of 20-25% from early 2009 levels as the recession bites. Other analysts say they could drop by as much as 35%. One group has recently closed a hospital....
July 14, 2010

Greece cracks down on doctors

Top Greek doctors rake in millions of euros a year, drive supercars and barely pay tax. The Greek Ministry of Finance is finally targeting them. This could lead to the forced sale of many clinics and medical centres....
May 18, 2010
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