Rhön-Klinikum, a Germany-based provider of health care services, has announced that it will sell 43 hospitals and affiliated companies to Fresenius Helios for a deal value of €3.07bn, subject to the approval of the German Federal Cartel Office as well as minority shareholders in some of the hospitals concerned.
As part of the acquisition deal, an additional €40m will be invested by Helios (€30m) and Rhön-Klinikum (€10m) in the further development and creation of a mutual medical network of partner clinics over the next five years.
The deal, if successful, would significantly boost the presence of Fresenius Helios across the country by making it the largest private hospital operator in Europe, with 117 hospitals.
The acquisition adds 11,800 beds as well as 15 outpatient facilities to the group’s operations.
A significant part of the transaction is expected to close by the end of 2013.
Fresenius CEO Dr Ulf M Schneider noted that the 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," Dr Schneider added.
Fresenius believes the acquisition will help it generate cost synergies, develop innovative, integrated care offerings and add sales of approximately €2bn.
The university hospitals Giessen and Marburg, and the hospitals in Bad Neustadt including the Rhön-Klinikum headquarters, Bad Berka and Frankfurt/Oder will remain with Rhön-Klinikum.
Rhön-Klinikum CEO Dr Martin Siebert said that the company has made a ground-breaking and sustainable decision.
"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," Dr Siebert added.