Mediclinic buys Swiss hospital stake via Hirslanden
PRIVATE healthcare group Mediclinic International has acquired a controlling interest in Linde Holding Biel for a total consideration of 69 million Swiss francs (R917m) through its Swiss subsidiary, Hirslanden.
The group said Hirslanden successfully acquired 64 percent of the issued share capital of Linde, leaving outstanding Linde shareholders until July to accept the offer of 3 100 Swiss francs a share.
Hirslanden chief executive Ole Wiesinger said the company had followed a growth strategy for years, both in the inpatient and outpatient sectors.
“Our goal is to develop regional medical care networks so as to create the maximum benefits possible for our patients. The range of medical services offered by Linde and their physical infrastructure are excellent,” Wiesinger said.
“We will continue to develop the hospital together with the affiliated doctors. This transaction will allow Hirslanden to build on its strong market position in the region to deliver future growth. We are delighted that Linde is now part of the Hirslanden group.”
Linde is a leading private hospital in the Biel region of Switzerland offering a wide range of medical care with 115 beds, an outpatient clinic facility, emergency unit, six operating theatres, physiotherapy, radiology and ophthalmology centres.
Recently the company expanded its main building with a new north wing. In 2016 Linde treated 6 043 inpatients and 38 446 outpatients and generated revenue of 91m Swiss francs and earnings before interest, tax, depreciation and amortisation of 9m Swiss francs.
Linde also has more than 80 affiliated doctors and 434 staff working at the hospital.
“Linde will benefit from the co-operation with Hirslanden Klinik Beau-Site in Bern and Hirslanden Klinik Aarau, facilitating the recruitment of highly-specialised medicine patients,” said Wiesinger, adding that upon the completion of the transaction, Hirslanden would consist of 17 hospitals.
The deal has the backing of Linde chairperson Kurt Aeberhard. “With the decision of the shareholders, Private Klinik Linde has entered a new dimension. We are convinced that this step will allow us to move into the future with greater confidence,” said Aeberhard.
Mediclinic Group has a portfolio of 74 hospitals and 37 clinics spread through southern Africa, South Africa and Namibia. Its international operations are in Switzerland and the United Arab Emirates. The group’s core purpose is to enhance the quality of life of patients by providing acute care, specialist-orientated, multidisciplinary healthcare services.
It also holds a 29.9 percent interest in Spire Healthcare Group, a London Stock Exchange (LSE) listed and UKbased private healthcare group. Mediclinic has a primary listing on the LSE, with secondary listings on the JSE and the Namibian Stock Exchange.
In the year to end March, Mediclinic reported a 26 percent increase in operating profit to £362m (R5.93bn) and a 30 percent increase in revenue to £2.75 billion. The group achieved this despite problems with Al Noor in Abu Dhabi.
Trading conditions remained challenging in Abu Dhabi with patient volumes and operating performance below expectations. Mediclinic shares dropped 1.19 percent on the JSE yesterday to close at R124.12.
Mediclinic private hospital in Midstream Estate in Centurion. The company reported a 26 percent increase in operating profit to £362m in March.