(Alliance News) - Garofalo Health Care Spa announced that it has been awarded Aurelia 80 Spa, a holding company in liquidation that heads the group of the same name, operating in the accredited private hospital sector.

Specifically, the deal involves the acquisition of the accredited private facility Aurelia Hospital and the interests held by Aurelia 80 in three other accredited private health care facilities -- European Hospital, Hospice S. Antonio da Padova and Samadi Psychiatric Residential Facility -- all of which were founded in Rome in the 1950s by Raffaele Garofalo and his two younger brothers, Antonio and Mario, also physicians.

The equity value of the transaction is EUR47 million, corresponding to an enterprise value of EUR71 million, calculated on the basis of the Total betta Financial Position as of December 31, 2022.

"The acquired facilities are characterized by high levels of specialization, representing a point of reference not only for the Lazio Region but also for the entire national territory, having a total SSN budget of more than EUR68 million as well as a total of 628 authorized beds, of which 500 are accredited," GHC explained.

The companies being acquired hold, directly or indirectly, the ownership of the instrumental properties at which healthcare is provided, aaccezione of the St. Anthony of Padua Hospice, totaling about 32,000 square meters.

The three facilities are expected to close 2023 with revenues of EUR85 million and Ebitda of EUR5.5 million, according to estimates.

The development plan for the acquired healthcare facilities, which has already been authorized by the Lazio Region, envisages the relocation of the cardiology and cardiac surgery departments - with an attached budget of more than EUR22 million - of European Hospital to Aurelia Hospital, "preparatory to the creation of an exceptionally important 'Cardiovascular Heart Center.'"

GHC Group CEO Maria Laura Garofalo said, "With this transaction GHC recovers its origins, acquiring a reality of great strategic and functional value, not only for the capital, but for the entire national territory. The importance of the Roma Capitale projects and the upcoming Jubilee will open up great opportunities for growth in regional healthcare with the focus of new resources, as well as the inevitable and consequent development of the private sector."

"The group's reorganization plan will reorganize the facilities' care offerings, creating at Aurelia Hospital a cardiovascular heart center of the highest logistical, organizational and clinical-scientific standing while recovering significant economic and financial performance. I dedicate this operation, in addition to my parents, to all the people who work in the group and who over the years have made it great."

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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