Median Kliniken acquires a further nine clinics
17 December 2010
Median Kliniken has acquired Pitzer Kliniken, a leading regional rehabilitation treatment provider, adding nine clinics to its existing 27, all located throughout Germany.
The acquisition strengthens Median’s position as Germany’s largest private rehabilitation care provider and the new clinics complement its existing network, both geographically and in terms of the treatments. Median now owns and operates 36 rehabilitation and acute clinics at 23 locations throughout Germany, with over 8,000 beds, approximately 5,500 employees and over 7million sq ft of real estate.
MARCOL acquired Median in October 2009, together with partners Advent International, and completion of this recent acquisition follows many months of negotiations between Median’s management, led by CEO Dr Martin Siebert, and representatives of the management and owners of Pitzer. Median was advised by Deloitte and Freshfields, who undertook extensive evaluation of the current business and future potential of Pitzer.
Co Founder and CEO of MARCOL Mark Steinberg states: “Median has one of the best management teams in the industry and is in a strong position to lead the consolidation drive in a very fragmented sector, whilst maintaining and improving its primary position in the post acute rehabilitation sector. We are very pleased that Pitzer and their very capable management team are joining Median to provide an extensive range of specialist services, including oncology, neurology, geriatrics, orthopaedics, cardiology and psychosomatic rehabilitation.”
“By strategic management, we aim to transform the position of Median to lead the change in the German healthcare market,” adds MARCOL Co Founder and CEO Terence Cole. “Substantial funds have been committed to support our plans. Based on our experience, together with our partners Advent International, who have significant experience in the German healthcare industry, we have identified a number of possible opportunities to grow the business internally and, where appropriate, by way of further acquisitions that are already under consideration. We are very pleased to have Median as part of MARCOL’s pan-European portfolio, being an operator of excellence and the quality leader in the industry.”
For further information on Median please visit www.median-kliniken.de.