Fresenius is reorganizing the Group’s inpatient rehabilitation business, to create the conditions for the continued growth of Fresenius Helios and Fresenius Vamed. On 1 July 2018, 38 health care facilities and 13 service companies in Germany specializing in inpatient post-acute and nursing care, which are now operated by Fresenius Helios, will be transferred to Fresenius Vamed. The transaction has a total volume of EUR 485 m, including assumed net debt of EUR 15 m. It will be financed Group-internally. This year, the inpatient post-acute care business that is being transferred is expected to generate about EUR 460 m in sales and an EBIT of around EUR 37 m.
Fresenius Vamed is already a leading post-acute care provider in Austria, Switzerland and the Czech Republic, and entered the British market last year. After the transaction, Fresenius Vamed will have a total of 63 inpatient health care facilities in five European countries. Even after the transfer of its inpatient post-acute care business to Fresenius Vamed, Fresenius Helios will remain Europe’s largest private hospital operator, with 137 hospitals and about 100,000 employees in Germany and Spain.
Hengeler Mueller is advising Fresenius on the transfer of the inpatient rehabilitation business in matters of tax law and corporate law. The Hengeler Mueller team includes partners Ernst-Thomas Kraft (Tax, Frankfurt) and Oliver Rieckers (Corporate, Düsseldorf) as well as associates Sebastian Heinrichs (Tax, Frankfurt) and Richard Suermann (Corporate, Düsseldorf).