The school under establishment is called “University of Nicosia Greece Branch Medical Limited” and is a joint effort of “HELLENIC HEALTHCARE HOLDING 3 (CYPRUS) LIMITED” (HH3) and the University of Nicosia. It is the first private university in Greece.
HH3 based in Cyprus cooperates with the well-known American hedge fund CVC Capital Partners, which controls six major hospitals in the country and 10% of PPC.
It is essentially the largest “player” in the field of health in the country, since it owns the six largest hospital units, namely the following: Hygeia, Metropolitan Hospital, Mitera, Metropolitan General, Leto, Creta Inter Clinic. The above hospital units will also provide internships to the students.
The announcement of the Competition Commission
On April 19, 2024, in its Plenary meeting, the Competition Commission received the no. 845/2024 Decision which 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 name “HELLENIC HEALTHCARE HOLDING 3 (CYPRUS) LIMITED ” and the private law organization with the name “P.L. University of Nicosia” on (a) the company under establishment with the name “University of Nicosia Greece Branch Medical Limited” and (b) the existing company with the name “VANES Limited”, in the sense of article 5 par. 2 (b) of Law 3959/2011.
The first whistleblower HH3 is based in Cyprus, belongs to the CVC network which is active in Greece in many sectors, including health, e-commerce, food and insurance.
The second informant University of Nicosia is based in Cyprus and is controlled by the limited liability company with the name “EDEX Educational Excellence Corporation Ltd”. The University of Nicosia provides tertiary higher education services in Cyprus, a possibility it also provides to distance students in Greece, while EDEX, through its subsidiaries, provides professional education and training services.
The under establishment “University of Nicosia Greece Branch Medical Limited” has as its statutory purpose the establishment and operation of a Medical School in Athens, a service which will be provided within the framework of Law 5094/2024, after obtaining the necessary administrative permits from the competent bodies.
“VANES Limited” is active in the market of real estate services.
The EA considered that the concentration in question does not cause anti-competitive horizontal and vertical effects, nor does it have as its object or result the coordination of the competitive behavior of the parent companies.
Therefore, although it falls within the scope of application of paragraph 1 of article 6 of Law 3959/2011, the concentration of heterogeneous activities in question 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 .
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