
Main Activity
Group of Clinics
Headquarters
Athens
Type of Project
Turnaround
Brief description of the project
In April 2010, following an agreement with Global Finance (the largest investment fund in Southeast Europe), VantagePoint S.A. undertook and achieved the turnaround of the Euroclinic Athens Group.
The Group employed 674 nursing and administrative staff and collaborated with 287 doctors of all specialties. This was one of the most challenging projects, as until April 2010, the Group had a strongly negative performance in all its fundamental financial indicators, with negative EBITDA, low turnover, and high operating costs. In 2011, following a complete financial audit of the Group and a successful restructuring and turnaround, the Group posted EBITDA of €2 million, while the implementation of an extensive cost-cutting program reduced its operating expenses by €8 million.
