THE Competition Commission gave the green light for the establishment ofthe first private medical school in the country. The school will be entitled “University of Nicosia Greece Branch Medical Limited».
It is a joint venture of “HELLENIC HEALTHCARE HOLDING 3 (CYPRUS) LIMITED’ (HH3) and the University of Nicosia. In the relevant announcement it is stated that the “University of Nicosia Greece Branch Medical Limited” has as its statutory purpose the establishment and operation of a Medical School in Athens.
With the no. 845/2024 decision of the Commission which was unanimously approved, pursuant to article 8 par. 3 of Law 3959/2011, the concentration which concerns the acquisition of joint control by the company with the brand name “HELLENIC HEALTHCARE HOLDING 3 (CYPRUS) LIMITED” and the private law organization named “P.L. University of Nicosia” on the company under establishment with the name “University of Nicosia Greece Branch Medical Limited” and the existing company with the name “VANES Limited”. It is noted that HH3 is based in Cyprus and belongs to the well-known American company hedge fund CVC Capital Partnerswhich controls six major hospitals in the country and 10% of PPC. In particular, her group CVC controls the following six major hospital units: Hygeia, Metropolitan Hospital, Mitera, Metropolitan General, Leto, Creta Inter Clinic.
It is worth mentioning that the University of Nicosia provides services of higher education in Cyprus, possibility which it also provides to distance students in Greece, while EDEX, through its subsidiaries, provides vocational education and training services. “VANES Limited” is active in the market of real estate services.
With the Commission’s decision, it decided that the concentration in question does not cause anti-competitive horizontal and vertical effects, nor does it have as its object or effect the coordination of the competitive behavior of the parent undertakings. Despite the fact that it falls within the scope of par. 1 of article 6 of Law 3959/2011, the concentration of heterogeneous activities does not raise serious doubts as to its compatibility with the requirements of the operation of competition in the relevant markets to which it concerns.
