The Hellenic Competition Commission gave the green light, at its meeting on April 19, for the acquisition of joint control by "HELLENIC HEALTHCARE HOLDING 3 (CYPRUS) LIMITED" and the private law organisation "P.L. University of Nicosia" for the company under formation "University of Nicosia Greece Branch Medical Limited", as well as the existing company "VANES Limited,"  thus paving the way for the first non profit medical school in Greece.

FULL STATEMENT

By its Decision No. 845/2024 adopted on the 19th of April 2024, the Hellenic Competition Commission (HCC), in Plenary, unanimously approved, pursuant to Article 8 (3) of Greek Law 3959/2011, the notified concentration concerning the acquisition by “HELLENIC HEALTHCARE HOLDING 3 (CYPRUS) LIMITED” (HH3) and “University of Nicosia” of joint control over (a) “University of Nicosia Greece Branch Medical Limited” and (b) “VANES Limited”.

The investment fund CVC indirectly controls HH3, which is based in Cyprus. CVC is active, inter alia, in the health, e-commerce, food and insurance sectors. University of Nicosia is based in Cyprus and is controlled by “EDEX Educational Excellence Corporation Ltd” (EDEX). The University of Nicosia provides university education services in Cyprus as well as online, while EDEX, through its subsidiaries, provides professional education and training services in Greece.

“University of Nicosia Greece Branch Medical Limited” is under establishment and will establish and operate a Medical School in Athens, under the provisions of Law 5094/2024, after receiving the necessary administrative permits from the competent bodies.

“VANES Limited” is active in the real estate market.

The HCC, by its decision, concluded that the concentration is not expected to affect the competitive conditions in any of the relevant markets concerned, as no anticompetitive horizontal, vertical or spillover effects were detected. So, even though the concentration is covered by article 6(1) of Greek Law 3959/2011, the HCC decided that it does not pose a major threat to competition in the markets it affects.