Median adds six further clinics with the acquisition of ORK
21 November 2011
Median Kliniken has acquired private clinic and care home operator ORK (Oberrheinische Kliniken), bringing the total number of clinics in its portfolio to 42 and increasing its annual turnover to over €400million.
The acquisition complements and enhances the scope of Median’s current acute clinic offering in Germany, from both regional and operational perspectives. Having recently expanded its presence in rehabilitation medicine, the company will now strengthen its presence in acute medicine, in particular psychiatry and psychosomatics.
MARCOL Co Founder Mark Steinberg states: “Median is an operator of excellence and the quality leader in the industry, with a strong position to lead the consolidation drive in a very fragmented sector whilst expanding further into acute care. ORK is a well-established and well-managed group and we are very pleased that their capable management team will be joining Median. “
“By strategic acquisition,” adds MARCOL Co Founder Terence Cole, “we are transforming the position of Median to lead the change in the German healthcare market and substantial funds have been committed to support these plans. This acquisition further establishes Median’s leading position in the German healthcare sector and demonstrates the opportunities and ability, together with appropriate considerations and expertise of partners such as Advent International, to complete significant transactions during difficult economic times”.
Median Kliniken was acquired by MARCOL and partners Advent International in 2009. The acquisition of Pitzer Kliniken in 2010 increased the number of clinics from 27 to 36 and the latest acquisition of ORK brings the total number to 42, including two nursing homes. At 28 locations throughout Germany, they consist of over 8,500 beds and employ approx 6,000 staff, providing an extensive range of indications, including psychosomatic, oncology, neurology, geriatrics, orthopaedics and cardiology rehabilitation.
Median was advised by Deloitte and Lovells, who undertook extensive evaluation of the current business and future potential of ORK.