Rhön-Klinikum AG — M&A Activity 2003

Sep 12, 2003

News Details

Corporate | 12 September 2003 07:00

Rhön-Klinikum AG english

RHÖN-KLINIKUM AG: Takeover of St. Elisabeth-Krankenhaus Bad Kissingen concluded Corporate-news announcement sent by DGAP. The sender is solely responsible for the contents of this announcement. ——————————————————————————– RHÖN-KLINIKUM AG, Bad Neustadt a.d. Saale: – Takeover of St. Elisabeth-Krankenhaus in Bad Kissingen concluded – Purchase contract signed before notary – RHÖN-KLINIKUM AG plans major investments in medical high-tech and future- oriented clinical structures Bad Kissingen / Bad Neustadt a.d. Saale, 11 September 2003 —– RHÖN-KLINIKUM AG, Bad Neustadt/Saale, is pleased to announce that the contract for the purchase of St. Elisabeth-Krankenhaus, Bad Kissingen, by the Company was attested by a notary today. This was preceded by an exceptionally short negotiating process, supported by mutual confidence and trust in Rhön-Klinikums ability to advance the Bad Kissingen hospital successfully, and to do so in the spirit of its previous owner, the Kongregation der Elisabethinerinnen. The transfer of ownership will be with effect from 1 January 2004. The partners to contract have agreed to maintain secrecy on the purchase price. St. Elisabeth-Krankenhaus, which comes under Versorgungsstufe II (care provision category), presently operates 196 beds under the Hospital Plan of the Free State of Bavaria. The hospital houses several specialist services, including internal medicine, surgery, gynaecology/obstetrics, otorhinolaryngology (ENT), urology and paediatrics. At present, the hospital employs a staff of 348. This takeover materialised because the previous owner found RHÖN-KLINIKUMs concepts to be the best possible solution for the hospital to ensure continuance of operation in the face of the challenges of the forthcoming introduction of the DRGs (remuneration for hospital services based on diagnosis-related groups). Although the hospitals financial position has been comfortable until today, the Sisters of the Order (presently 24) were no longer sure to be able to cope by their own efforts with the growing rationalisation pressures and additional financing needs that the hospital will have to face within the foreseeable future. They recognised that the expected reduction in the average duration of stays in hospital will require targeted additions to the hospitals service offer-ings, in line with demand trends, and substantial improvements in terms of medical-technical equipment, if the hospital was to continue fit for purpose for its patients and the region it serves. This is why they looked for a qualified partner who would ensure continuance of operation, main-tain the hospitals high quality standards, and take over all of its employees. RHÖN-KLINIKUM AG will significantly rise the rate of investments and use its proven restructuring know-how to secure quality care provision even under the new DRG-based remuneration sys-tem. As a first step to upgrade the hospitals medical-technical facilities and improve diagnostic quality, it has been decided to purchase a new MRT before the end of the year. The management of RHÖN- KLINIKUM AG sees close integrative links with local GPs and specialists as a decisive factor of quality patient care across sectoral boundaries. end of message, (c)DGAP 12.09.2003 ——————————————————————————– WKN: 704230; ISIN: DE0007042301; Index: MDAX Listed: Amtlicher Markt in Frankfurt (Prime Standard) und München; Freiverkehr in Berlin-Bremen, Düsseldorf, Hamburg und Stuttgart 120700 Sep 03