RHÖN-KLINIKUM AG | 10/17/2018

Agreement on separate accounting between RHÖN-KLINIKUM AG, UKGM, Federal State of Hesse and Universities of Giessen and Marburg validated by independent auditors

  • Independent auditors confirm agreement on separate accounting
  • Extensive investment package for UKGM of at least Euro 100 million to extend the paediatric cardiology centre in Giessen and rebuild the paediatric and youth psychiatric clinic in Marburg
  • Successful agreement will influence 2018 EBITDA of RHÖN-KLINIKUM AG with a one-off positive effect of approx. Euro 20 million
  • RHÖN-KLINIKUM AG confirms revenue and EBITDA guidance for 2018

The agreement on separate accounting between RHÖN-KLINIKUM AG, the university hospitals in Giessen and Marburg (Universitätsklinikum Gießen und Marburg GmbH (UKGM)), the Federal State of Hesse and both universities in Giessen and Marburg has been validated by the independent auditors KPMG who certified that the agreement withstood external comparison. The final condition precedent has therefore been fulfilled. The agreement will initially run until the end of 2021 but the Company believes it can be the basis for a more permanent regulation beyond the agreed term based on its content.

“It is a great success after many years of disagreement on this subject. For the first time we shall receive appropriate remuneration for our contribution to research and teaching at the university hospitals in Giessen and Marburg. This agreement gives a green light for a huge investment programme which will benefit both our patients and employees and therefore the entire region of Central Hesse”, Stephan Holzinger, CEO of RHÖN-KLINIKUM AG, stated.

In May 2017 the parties concerned had already settled on the basic points of the agreement. It was signed as a position paper for the further development of university medical care in Giessen and Marburg in Central Hesse and approved in the federal state budget for 2018/2019 in February 2018.

Agreement strengthens healthcare base in Central Hesse

The agreement foresees, among other things, that UKGM will receive an additional amount from 2017 onwards in order to finance the services it renders in the area of research and teaching. The basic amount which the federal state pays to both universities will therefore be raised accordingly. For the first time there will also be new regulations on appropriate remuneration for future increases in material and personnel costs for research and teaching. The successful agreement will influence earnings before interest, taxes, depreciation and amortization (EBITDA) of the RHÖN‑KLINIKUM AG group with a one-off positive effect of Euro 20 million.

Furthermore UKGM will receive additional investment funds from the Federal State of Hesse in a single payment of Euro 13 million within the agreement.

An extensive investment package will also be set in motion for both university hospitals. Dr. Gunther Weiss, a board member and chairman of management at UKGM, stated: „We shall invest at least Euro 100 million in the next five years. In Marburg the psychiatric clinic will be modernised, the central operating theatre and the intensive care units will be renovated and the paediatric and youth psychiatric clinic will be rebuilt. In Giessen the paediatric cardiology centre will be enlarged and an extension added to the hospital building. Moreover UKGM entered into the following obligations: there will be no terminations for operational reasons until the end of financial year 2021 and trainees with appropriate qualifications will be employed on a long‑term basis. In general this agreement puts our cooperation with the Federal State of Hesse and the two universities on a new footing.”

Background of the matter

In 2006 RHÖN-KLINIKUM AG bought 95 percent of the shares in the university hospitals in Giessen and Marburg which had merged as UKGM GmbH and has since performed extensive tasks in the sovereign area of research and teaching. In return UKGM receives payments from both universities, the amount of which and whose framework conditions have now been definitely agreed in a new contract.


RHÖN-KLINIKUM AG confirms its previous forecast for the current financial year of 2018 and expects revenues in the amount of Euro 1.24 billion plus/minus 5 percent. Regulatory legislation such as lower remuneration for services with high material costs (especially cardiological services) or the fixed cost degression discount for additional services, must still be taken into consideration.

For 2018 we expect a much higher amount for earnings before interest, taxes, depreciation and amortization (EBITDA) of between Euro 117.5 million and Euro 127.5 million in comparison with 2017 – positively influenced by the agreement with UKGM regarding separate accounting as well as other effects.


RHÖN‐KLINIKUM AG is one of the largest healthcare providers in Germany. The hospital group offers excellent medical care with a direct link to universities and research institutes. More than 830,000 patients are treated every year at the five group hospitals located in Bad Berka, Bad Neustadt, Frankfurt (Oder), Giessen and Marburg where approx. 16,700 employees work. With the RHÖN campus concept the Company is currently implementing a new and forward-looking project which raises fully comprehensive healthcare in rural areas to a new level of excellence and is geared to the growing needs of patients.


Elke Pfeifer
Head of Corporate Communication & Marketing
Telephone: +49 9771 65-1327 | E-Mail:

Julian Schmitt
Head of Investor Relations and Treasury
Telephone: +49 9771 65-1536 | E-Mail: