American Hospital sh.a. signed a share purchase agreement to acquire Hygeia Hospital - Tirana Sh.A. from Diagnostic and Therapeutic Center of Athens Hygeia SA (ATSE:HYGEIA) on July 6, 2018. The consideration shall be calculated on a cash free debt free basis at the time the transaction is concluded. Under the transaction, American Hospital assumes the liabilities of Hygeia Hospital amounting to €29.5 million in total (including the long-term borrowings of Hygeia Hospital, amounting to €19 million, as well as liabilities to HYGEIA Group companies, amounting to €2.5 million). The completion of the transaction is subject to the approval of the Competition Authority of Albania and Kosovo and customary transaction related conditions. The proceeds from the transaction shall be used in its entirety to reduce the HYGEIA's bank borrowings. As a result of the transaction, HYGEIA Group is expected to significantly improve its liquidity and debt ratios. American Hospital sh.a. completed the acquisition of Hygeia Hospital - Tirana Sh.A. from Diagnostic and Therapeutic Center of Athens Hygeia SA (ATSE:HYGEIA) for approximately €1 million on August 23, 2018.