AEVIS VICTORIA SA

M&A Activity • Mar 4, 2009

News Details

Ad-hoc | 4 March 2009 07:16

Genolier Swiss Medical Network (GSMN): Opening of negotiations with Bethanien Clinic in Zurich

Genolier Swiss Medical Network (GSMN) / Letter of Intent/Letter of Intent

Opening of negotiations with Bethanien Clinic in Zurich

Bethanien would become GSMN’s development platform in German-speaking

Switzerland

The Boards of Directors of GSMN and Bethanien Clinic in Zurich signed a

letter of intent yesterday, regarding the integration of the Zurich clinic

into the GSMN network. The letter of intent gives GSMN a 3 month exclusive

negotiations period with Bethanien Clinic and foresees the acquisition of

at least 90% of Bethanien’s capital. Completion of the deal is scheduled

for late June 2009.

Raymond Loretan and Antoine Hubert, respectively Chairman and CEO of

Genolier Swiss Medical Network, yesterday presented a firm offer to the

Board of Directors of Bethanien Clinic aimed at integrating the Zurich

clinic into the network by acquiring at least 90% of the share capital of

the operating company. The positioning and philosophy of Bethanien Clinic,

which are focused on high quality medicine and hotel services, are exactly

in line with those of GSMN.

The roots of Bethanien Clinic go back to the philosophy of the charitable

foundation of the same name. The clinic is situated on a prime elevated

site on the Z¨¹richberg. It has 111 beds and treats over 5,000 patients each

year. With around 180 admitting physicians, Bethanien Clinic provides a

broad range of specialties, including general surgery, gynaecology and

obstetrics, ear, nose and throat, maxillo-facial surgery, orthopaedic

surgery, plastic and reconstructive surgery, urology and abdominal surgery.

The project includes an investment of more than CHF 15 million over 3 years

in Bethanien’s infrastructure, in order to further strengthen the medical

and hotel service offerings. GSMN intends to continue and intensify the

clinic’s collaboration with its admitting physicians, in line with the

Group’s achievements in Clinique de Genolier, Clinique de Montchoisi,

Clinique de Valmont-Genolier and Clinique G¨¦n¨¦rale: the development of

independent establishments, well integrated in the regional sanitary

network, which benefit from the strength and structural organisation of a

nationwide group.

This potential integration is an additional step towards the realisation of

GSMN’s long-term objectives, namely building up a network of private

clinics that is present in several cantons at a national level. Just like

the integration of the other clinics in the GSMN network, major synergies

will be realised with Bethanien Clinic, particularly at the level of

purchasing, marketing, IT, relationships with insurance companies, etc.

Once this acquisition is finalised, GSMN will have a solid base in Zurich

to continue to expand in German-speaking Switzerland.

GSMN (Genolier Swiss Medical Network) AG is the leading private hospital

network in French-speaking Switzerland (Romandie). Its growth strategy is

focused on building a national network by acquiring clinics and integrating

their operations. GSMN’s main goal is on providing premium hospital care to

Swiss and foreign patients. GSMN distinguishes itself over other healthcare

providers on the basis of its quality of services, high brand value,

congenial working environment and an experienced and entrepreneurial

management team. Presently, GSMN has 4 fully owned private hospitals in its

portfolio (Clinique de Genolier, Clinique de Montchoisi, Clinique

Valmont-Genolier and Clinique G¨¦n¨¦rale), with 338 operating beds and more

than 200 additional licensed beds for organic growth, as well as Centre

m¨¦dico-Chirurgical des Eaux-Vives (CMEV), an out-patient consult and

oncology centre in Geneva. In 2009, GSMN will realise a turnover of more

than CHF 145 million. The Group is listed on the Main Segment of the SIX

Swiss Exchange (GSMN.SW).

For more information:

GSMN press department

Media Impact – G¨¦rard Sermier

Rue de Lausanne 42 © 1201 Geneva

Tel +41 (0)22 732 59 97 © Fax +41 (0)22 738 62 01

info@mediaimpact.ch

Factsheet: Bethanien Private Clinic (PDF-file).