The Service of the Commission for the Protection of Competition has received a notification of a concentration, according to Section 10 of the Control of Concentrations between Enterprises Law of 2014, concerning the
1) the creation of the University of Nicosia Greece Branch Medical Ltd by the University of Nicosia, through Nareliz Ltd, and Hellenic Healthcare Holdings Single Member S.A., through Hellenic Healthcare Holding 3 (Cyprus) Ltd and
2) the acquisition of joint control of VANES Ltd by the University of Nicosia, through Neroulio Ltd, and Hellenic Healthcare Holding 3 (Cyprus) Ltd.
University of Nicosia is a private university that operates in accordance to the Private Universities (Establishment, Operation and Control) Law of 2005 (L.109(I)/2005), as a private for-profit organization.
Hellenic Healthcare Holding 3 (Cyprus) Limited is a subsidiary of the company Hellenic Healthcare Holding Single Member S.A.. Hellenic Healthcare Holding Single Member S.A. is a Greek holding company of the Hellenic Healthcare group (“the Group”), a private healthcare group in Greece.
Nareliz Ltd is a company incorporated within the Republic of Cyprus, used as a special purpose vehicle. It is subsidiary of the University of Nicosia and upon completion of the agreement, it will acquire part of the share capital of the University of Nicosia Greece Branch Medical Ltd.
Neroulio Ltd is a company incorporated within the Republic of Cyprus used as a special purpose vehicle. It is subsidiary of the University of Nicosia and upon completion of the agreement, it will acquire part of the share capital of VANES Ltd.
The University of Nicosia Greece Branch Medical Ltd is a joint venture and will be controlled by University of Nicosia (through Nareliz Ltd) and Hellenic Healthcare Holding 3 (Cyprus) Ltd. The Joint Venture aims to create a Medical School in Greece and through it to manage the financial activities of the Greek Medical School.
VANES Ltd is a joint venture and will be controlled by the University of Nicosia (through Neroulio Ltd) and Hellenic Healthcare Holding 3 (Cyprus) Ltd. The Joint Venture will be the owner of the real estate on which the Hellenic Medical School located and operate.
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