Rhön-Klinikum AG — M&A Activity 2003

Dec 30, 2003

News Details

Corporate | 30 December 2003 10:50

RHOEN KLINIKUM AG – Group buys interests from Free State of Thuringia

Corporate-news announcement sent by DGAP. The sender is solely responsible for the contents of this announcement. ——————————————————————————– Bad Neustadt upon Saale / Bad Berka, 30 December 2003 —- RHÖN-KLINIKUM AG is pleased to announce that the contract for the sale of the Free State of Thuringias 12.5 per cent interest in Zentralklinik Bad Berka GmbH to RHÖN- KLINIKUM AG was signed today by representatives of Thuringia and RHÖN-KLINIKUM AG before a notary in Weimar. The agreed sales price is Euro 27,500,000 and will become due for payment early in January 2004. The contract provides that the buyer, RHÖN-KLINIKUM AG, who agrees to bear the costs of the transaction, is entitled to the profit for the current financial year. Zentralklinik Bad Berka was privatised in May 1991; the partnership agreement was signed on 16 May 1991 (and amended on 30 March 2001). Since then the partners have been the Free State of Thuringia and the City of Bad Berka, each with an interest of 12.5 per cent, and RHÖN-KLINIKUM AG, with 75 per cent. The authorised capital of Zentralklinik Bad Berka GmbH amounts to Euro 15.000.000. Sales negotiations had been going on for some time after the state – which had accompanied the hospitals privatisation – decided that there was no necessity of own strategic considerations regarding the hospital, apart from the fact that the states financial resources were urgently needed for use in other imperative public tasks. The chief executive of Rhön-Klinikum AG, Eugen Münch, stated that he was pleased with the outcome of the negotiations but regrets to lose the Free State of Thuringia as a reliable partner whose commitment greatly benefited the development of the Bad Berka centre in the past years. Following the purchase of the states interest, the listed hospital group with headquarters in the Rhön holds a 87.5 per cent share, and the City of Bad Berka a 12.5 per cent share in the assets of the partnership. Zentralklinik Bad Berka is a top-performer within Rhön Klinikum Group. This regional centre houses a wide range of medical specialties and treats close to 30,000 inpatients and outpatients each year. Capacity utilisation is in excess of 90 per cent and has kept its constantly high level for many years. Zentralklinik Bad Berka is also an important contributor to research and develop within the Group and has been involved in a wide variety of clinical studies in the specialist fields of pneumology, nuclear medicine, cardiology, neurology and laboratory medicine, as well as the organisation of a number of medical conferences. end of message, (c)DGAP 30.12.2003 ——————————————————————————– WKN: 704230; ISIN: DE0007042301; Index: MDAX Listed: Amtlicher Markt in Frankfurt (Prime Standard) und München; Freiverkehr in Berlin-Bremen, Düsseldorf, Hamburg und Stuttgart 301050 Dez 03