Private hospital group Mediclinic has acquired a 64% interest in Switzerland-based healthcare clinic Linde Holding Biel, for SF69m ($71m).
The deal, which will be concluded by Mediclinic’s Switzerland subsidiary Hirslanden, will strengthen Mediclinic’s presence in the Swiss market.
Located in Biel-Bienne Switzerland, the recently renovated private hospital has 115 beds, an outpatient clinic facility, emergency unit, six operating theatres, physiotherapy, radiology and ophthalmology centres.
Mediclinic has the largest hospital portfolio on the JSE and it said the acquisition would benefit Linde by facilitating the recruitment of highly specialised medicine patients.
Hirslanden CEO Ole Wiesinger said for years Hirslanden had followed a growth strategy both in the inpatient and outpatient sectors and its goal has remained to develop regional medical care networks to create the maximum benefits possible for patients. "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."
Linde Holdings Bien chairman Kurt Aeberhard said shareholders had taken the decision to move in a new direction and were confident it would benefit both parties.
Linde generated revenue of SF91m and earnings before interest, tax, depreciation and amortisation (ebitda) of SF9m.
In the year to end March, Hirslanden contributed 48% of the group’s £2.7bn revenue and 58% of its £243m net profit.
Mediclinic also has hospitals in SA, Namibia and the United Arab Emirates.