Latham & Watkins Advises RHÖN-KLINIKUM AG on Sale of 43 Hospitals for €3.07 Billion

Hamburg M&A team leads on high-profile healthcare deal for M-Dax listed hospital operator.

September 16, 2013

M-Dax listed hospital operator RHÖN-KLINIKUM AG has announced the sale of 43 hospitals and affiliated companies to healthcare company Fresenius Helios as part of its corporate strategy to realign its portfolio. The purchase price (enterprise value) amounts to €3.07 billion. RHÖN-KLINIKUM AG wants to focus on facilities that offer advanced medical care in a comprehensive, research-driven university environment with a maximum care offering. The locations Bad Berka, Bad Neustadt a. d. Saale, Frankfurt (Oder) as well as the university hospitals Giessen and Marburg will form the foundation of the “new Rhön”. With revenues of approximately €1 billion and around 15,000 employees, the company will be the fourth largest hospital group in terms of revenues in Germany. An additional €40 million will be invested by Helios (€30 million) and RHÖN-KLINIKUM (€10 million) in the further development and creation of a mutual medical network of partner clinics over the next five years. Subject to the approval of the German Federal Cartel Office the partner clinics will cooperate closely in future on the basis of a network agreement and offer top-quality supplementary care services for patients.

Latham & Watkins advised RHÖN-KLINIKUM AG in the transaction with a Hamburg-based deal team led by M&A partner Henning C. Schneider, with corporate partners Dirk Kocher and Wilhelm Reinhardt, counsel Christoph Engeler and associates Andreas Loenner, Otto-Philipp von Gruben, Sebastian Schneider, Jan Philipp Feigen and Julia Heydel. Advice was also provided by litigation partner Christoph Baus and associate Carsten Witzke.

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