AEVIS VICTORIA SA

Environmental & Social Information • Feb 19, 2009

News Details

Ad-hoc | 19 February 2009 19:05

Genolier Swiss Medical Network (GSMN): LPP coverage rate of 110% 1

Genolier Swiss Medical Network (GSMN) / Miscellaneous/Miscellaneous

Genolier Swiss Medical Network – LPP coverage rate of 110%

Excellent resilience for the Group’s pension fund in 2008 thanks to

property

The employee Pension Fund of Genolier Swiss Medical Network, a

self-governing fund managed since 1992 by a joint council, realised a

coverage rate of 110% at the end of 2008. This is the result of a prudent

and pragmatic management, mainly oriented towards fixed revenues in

property and bonds. The Fund Committee chose to withdraw from the equity

markets from the end of 2007 and to increase its cash positions. The fund

has total wealth of CHF 53 million and the coverage rate has improved from

109% in 2007 to 110% in 2008.

From December 2007, the GSMN pension fund has considerably reduced its

investments in shares, whilst increasing its cash positions and emphasizing

the development and management of its property portfolio. The Fund’s total

assets passed the CHF 53 million mark for a net wealth of close to CHF 41

million. The property assets represent more than CHF 25.6 million or 48%,

bonds CHF 9.7 million (18%), cash positions CHF 13.8 million (26%) and

shares CHF 4 million (8%). The Pension Fund of Clinique de Genolier and

related establishments, founded in 1972 for the only Clinique de Genolier,

has brought together since the end of 2006 all the Pension Funds of the 583

salaried employees of the Group’s five establishments.

Genolier Swiss Medical Network operates Clinique de Genolier, Clinique de

Montchoisi, Clinique Valmont-Genolier and Clinique G¨¦n¨¦rale. It has a

management agreement with the Centre m¨¦dico-chirurgical des Eaux-Vives.

GSMN (Genolier Swiss Medical Network) SA is the most important hospital

network in French-speaking Switzerland. Its growth strategy is based on

developing a national network by acquiring clinics and restructuring their

operations. GSMN’s prime objective is to provide first-class health care to

both Swiss and non-Swiss patients. GSMN is distinguished from other health

care providers by the quality of its services, the strength of its brand,

its pleasant working environment as well as its entrepreneurial and

experienced management team. GSMN currently operates 4 private hospitals,

representing 277 operational beds and 200 authorised additional beds

allowing organic growth. GSMN has also signed a management contract with

Centre m¨¦dico-chirurgical des Eaux-Vives (CMEV), an outpatient and

radiotherapy centre in Geneva. The Group is listed on the primary market of

the SIX Swiss Exchange (GSMN.SW).

1Non©audited results.

For more information, please contact:

Service de presse de GSMN

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