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RHÖN-KLINIKUM AG | 09/13/2013

RHÖN-KLINIKUM AG goes on the offensive with fundamental realignment of its corporate structure and strategy

 

  • Future focus on advanced medicine 
  • Sale of 43 hospitals and affiliated companies to Fresenius Helios 
  • Build-up of mutual network with high-quality offering for patients

M-Dax listed hospital operator RHÖN-KLINIKUM AG is completely realigning its portfolio. In future, the Group wants to focus on facilities that offer advanced medical care in a comprehensive, research-driven university environment with a maximum care offering.  The locations Bad Berka, Bad Neustadt a. d. Saale, Frankfurt (Oder) as well as the university hospitals Giessen and Marburg will form the foundation of the “new Rhön”. Comprising some 5,300 beds, this homogenous and furthermore independent network of hospitals will be managed in a so-called “Campus Concept”. All facilities have a capacity of between 650 and 1,200 beds each. With revenues of approximately EUR 1 billion and around 15,000 employees, the company will be the fourth largest hospital group in terms of revenues in Germany.

At the same time, 43 hospitals and affiliated companies will be sold to healthcare company Fresenius Helios. The purchase price (enterprise value) amounts to EUR 3.07 billion. An additional EUR 40 million will be invested by Helios (EUR 30 million) and RHÖN-KLINIKUM (EUR 10 million) in the further development and creation of a mutual medical network of partner clinics over the next five years. Subject to the approval of the German Federal Cartel Office the partner clinics will cooperate closely in future on the basis of a network agreement and offer top-quality supplementary care services for patients.

Basis for network medicine created

 “With the support of the Supervisory Board, we have made a ground-breaking and at the same time extraordinarily sustainable decision. Through its critical mass, the ‘new Rhön’ is well positioned to deliver significant additional medical and economic growth,” said Dr. Dr. Martin Siebert, CEO of RHÖN-KLINIKUM AG. “We are starting from a stable earnings position and believe that this can be considerably increased. The ‘new Rhön’ with its unique structure and offering will be even more attractive in the future.”

Siebert also made clear that the long discussed network concept could now be implemented. Ultimately, the strategic realignment has three winners: Helios, RHÖN-KLINIKUM and patients who will benefit from the qualitative advantages of network medicine in future.

Dr. Ulf M. Schneider, CEO of Fresenius said: “This compelling transaction provides a unique opportunity to create a nationwide hospital network and to establish Europe’s largest private hospital operator. The clinics we are acquiring from Rhön-Klinikum are a perfect strategic and geographic fit with Helios’ existing portfolio and will allow us to develop innovative approaches to health care. We are looking forward to working with the employees of the newly acquired clinics to advance our joint commitment to high-quality patient care.”

Approval of German Federal Cartel Office required

The planned transaction is subject to the approval of the German Federal Cartel Office as well as certain approvals of former municipal owners or current minority shareholders in line with previous privatisation agreements.