Waterland acquires German clinic operator MEDIAN Kliniken

Dusseldorf, October 16, 2014 - Waterland today announced that it has acquired a majority stake in MEDIAN Kliniken, the German clinic operator of hospitals and rehabilitation facilities with more than 9,000 beds based in Berlin. Under the terms of its agreement, Waterland Fund V will acquire the majority of MEDIAN. MEDIAN is being sold by Advent International, one of the leading global investors dedicated to private equity, and the pan-European investor Marcol. Both investors sell their stakes completely. No other financial terms were disclosed. The transaction is subject to approval by the German Bundeskartellamt.

Rob Thielen, Chairman of Waterland, said: "MEDIAN Kliniken fits into our investment focus, and our strategy to consider the benefits stemming from the aging population and the megatrends associated with its demographics. In the health sector, we therefore see significant growth opportunities. With MEDIAN we have created a second foothold in the German hospital market." In 2011 Waterland already bought via Fund IV RHM Kliniken, Deidesheim. So the investor already has deep industry experience.

Waterland will implement its typical buy and build approach for MEDIAN. "We see MEDIAN as a very attractive platform with a strong position in different indications like neurology, with a particularly attractive private patient offering PREMIUM. Our goal is to accelerate additional growth at MEDIAN Kliniken by stepping up their PREMIUM concept,” says Dr. Carsten Rahlfs, Principal of Waterland and head of the Düsseldorf office. “In addition, we believe we can grow significantly through acquisitions in the acute-care sector and we have already identified several attractive clinic operators as potential additions,” underlines Jörg Dreisow,  Managing Principal of Waterland and responsible for DACH region, Waterland´s buy and build approach.

The property of MEDIAN Kliniken will be sold to a US-real estate investor in the coming months as part of a sale-and-lease-back agreement.

MEDIAN Kliniken Group, one of the largest operators of post-acute and acute hospitals in Germany,  has  approximately  7,500  employees.  "We  have  improved  our  position considerably during the last five years. This is the result of the hard work from all of our staff and the support we got from our previous owners. We are excited about the growth strategy that has been outlined for our clinics and we look forward to working with Waterland," commented Hartmut Hain, CEO of MEDIAN, the step.

MEDIAN Kliniken focuses primarily in the areas of neurology, orthopaedics and psychosomatics. The company operates more than 9,000 beds in 45 facilities throughout Germany. The hospital group has pursued an organic and external growth strategy and recently acquired Atos Kliniken located in Munich and Heidelberg.

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