Euromedica files for protection

The new management of Euromedica has filed for protection from creditors under the bankruptcy law.

The listed firm is planning to start a streamlining process with the entry of a strategic investor and the restructuring of obligations adding up to 500 million euros.

Healthcare Investors, owned by Farallon Capital, is the strategic investor and sources say it has already paid some 6 million euros to cover operating expenses and salaries in the Athens-based clinics group.