The structural, as well as socioeconomic changes affecting the Private as well as the Public Health sector vary, while their effect will become apparent at many levels both in the long term and at present.

The current status of the health sector involves the interaction between the Public and the Private sector. Their inter-dependent course creates a dynamic relation in terms of figures, potentiality, manpower, equipment, management, entrepreneurial flexibility, economic cost and social welfare.

It is obvious that the factors that will determine to a great extent the future of the Private Health sector undoubtedly rely on both the general course of the Greek Economy and Society, as well as on the developments in the Public Health sector.

IASO position in the Sector

The table below presents the sales' volume of the major Private Maternity Clinics (according to published financial figures):

The following table presents revenues per bed of the major Maternity Clinics for the year 2002.

It should be noted that a key factor affecting the course of all companies within the sector is also the occupancy ratio that in turn affects revenues per bed as presented above. Currently there are no data available regarding the occupancy ratio of other companies and respectively their revenues per bed figures that are of major importance particularly in respect to large private Maternity Clinics.

The following table presents the market share of the major clinics within the Maternity sector that are active in Greece, as well as in the Attica Prefecture, representing 80.1% of total turnover of the Private Maternity Clinics market (in EUR million), that reached Euro 160 million in 2002:

* This percentage concerns all those companies publishing financial figures, which are at the same time the major Maternity Sector companies with the biggest magnitudes in terms of Assets, as well as Results, according to ICAP figures and their published financial statements.

As already mentioned, among the private maternity/gynaecological clinics, the largest share country-wide was held in 2001 by the IASO Group with a market share of 42.5%.

Moreover, according to the abovementioned table, taking also into consideration that the cumulative 80.9% represents the distributed market share of each major Maternity Clinic, IASO S.A. held (based on sales volume in 2002) 52.5% of the market share in the Attica Prefecture.

Finally, it is worth noting that IASO S.A. initiated operations in the private maternity sector in 1996. Despite the fact that the respective fiscal year lasted for only seven months (June - December 1996), total turnover reached Euro 13,708 million and was ranked second holding 23.4% of the domestic market.