Hellenic Healthcare

Location:

Greece

Project number:

50042

Business sector:

Manufacturing and Services

Notice type:

Private

Environmental category:

B

Target board date:

04 Jul 2018

Status:

Repaying

PSD disclosed:

31 May 2018

Translated version of this PSD: Greek

Project Description

Long-term senior loan of up to EUR 32 million to Perseus Healthcare S.A., a public limited company domiciled in Greece, operating under the business name Metropolitan Hospital (Athens), to finance the capital expenditure programme and working capital, as well as to partly refinance its existing debt portfolio.

Project Objectives

Support the investment programme carried out by Metropolitan hospital at its premises in Athens. The proceeds from the EBRD loan will be allocated towards capex consisting of reconstruction of buildings and purchase of new medical equipment, with the aim to increase capacity and improve quality of its healthcare services.

Transition Impact

The transition impact of the proposed project will be derived from:

  • Efficiency gains and cost savings enabling the improvements in company's operational performance.
  • Financial restructuring.

Client Information

METROPOLITAN HOSPITAL

Perseus Healthcare S.A., a public limited company domiciled in Greece, operating under the business name Metropolitan Hospital (Athens).

EBRD Finance Summary

EUR 32,000,000.00

Senior secured loan to the borrower in the amount of up to EUR 32 million.

Total Project Cost

EUR 32,000,000.00

Environmental and Social Summary

Categorised B (2014 ESP). Financing capex investments at the existing hospital (262 beds) in Athens is associated with specific environmental and social issues which can be addressed via the implementation of appropriate mitigation measures. Environmental and Social Due Diligence (ESDD) for the project was carried out by ESD staff and comprised a review of the completed E&S Questionnaire; discussions with the client management; and a visit to the hospital. The proposed capex programme will not increase hospital bed numbers but will carry out refurbishment of the basement, ground floor and facade, as well as installation of new medical equipment. The hospital has adequate environmental, health and safety, infection control and HR management procedures in place in accordance with applicable Greek law. Both the hospital's current operations and the project are not associated with significant environmental and social issues. An E&S Action Plan (ESAP) has been developed to address continuous implementation of all relevant procedures and antibiotic stewardship to address Antimicrobial Resistance (AMR) issues in the hospital. The hospital is required to ensure that the project adheres to EBRD PRs and IFC Environmental, Health and Safety Guideline for Healthcare Facilities.

The hospital is accredited with Temos-Excellence in Medical Tourism & Temos Quality in International Patient Care, which certifies the quality of medical service accreditation for international patients and medical travellers and is based on "Quality Made in Germany"; the hospital having a Certified European Stroke Organisation (ESO) Stroke Unit; ISO 15189-2012 (laboratory certification) for more than 40 type of blood testing procedures; ISO 22000 (Food Safety); ISO9001 (Quality Management); and a Certificate of Membership for 2017 from Breast Centre Network. To keep these accreditations, five different external audits take place every year. An internal quality management audit is carried out by the Quality Department once a month. The hospital has infectious control, hazardous substance and radioactive substance management systems, occupational health & safety, medical waste management and life and fire safety procures in place. A licensed company comes to collect medical waste and dispose of it in a medical waste incinerator every day. The hospital's HR policy, including an employee grievance mechanism, is in line with PR2. Patient rights are respected in accordance with national law and a patient grievance mechanism is in place. Statistics show that Greece has a high use of antibiotics and has a correspondingly high rate of AMR occurrence in EU member countries. The Greek government has developed an AMR National Action Plan to address it. The hospital reports its AMR surveillance data to the Hellenic Centre for Disease Control & Prevention (HCDCP), the national AMR surveillance network centre. Under the project, the hospital continues to address in-hospital AMR issues by antibiotics stewardship and improved diagnostic.

Technical Cooperation

None.

Company Contact Information

Ms Aggeliki Siolavou
asiolavou@metropolitan-hospital.gr
+30 210 4809188
www.metropolitan-hospital.gr
Ethnarchou Makariou 9, Pireas 185 47, Greece

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