German group Fresenius purchase Quirónsalud 5760 million euros – Management Journal

Billed as the largest hospital group in Spain, Quirónsalud also manages 39 day centers and 300 centers for the prevention of occupational hazards, according to Fresenius.

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Berlin ( AFP ) .- The German healthcare group Fresenius, through its subsidiary Helios, has reached an agreement to acquire by 5,760 million euros Quirónsalud company, which manages 43 hospitals throughout Spain, according to a statement.

the announcement was enthusiastically received in the bag Frankfurt, where the action of the group gained more than 5% after the opening, while the main index Dax operated rising 0.3%.

Presented as the largest hospital group in Spain, Quirónsalud also manages 39 day centers and 300 centers risk prevention, according to Fresenius. Born in 2014 from the merger of the Spanish groups IDC and GHQ , Quirónsalud has about 35,000 employees.

the hospital group has an annual organic revenue growth of 5%, in recent years, thanks to “excellent quality combined care with short waiting times,” claims Fresenius.

Quirónsalud waiting 2016 turnover of about 2,500 million euros and a gross operating profit of between 460 and 480 million euros.

Two leaders “as”
“This acquisition combines two leaders in size and quality” Fresenius president, Stephan Sturm, welcomed the statement. Quirónsalud name will be preserved in Spain.

Once the transaction closes, possibly in late 2016 or early 2017, Fresenius will own 100% of Quirónsalud. Indeed all its capital was acquired at the bottom CVC Capital Partners and the management of the group.

The high amount of this purchase makes it the largest in the Fresenius history, whose subsidiary so far only managed clinics in Germany.

In 2014, the group had already expanded its network of health facilities to gain most hospitals also German group Rhön-Klinikum, which made it the largest network of clinics in Germany.

The German group hopes to get with this purchase about 50 million synergies annual “medium term” and expects a positive effect on net profit from 2017.

Fresenius , which has almost 28,000 million euros of turnover and about 228,000 employees worldwide, also sells medical supplies, especially transfusion and proposes management services and development for hospitals and health centers.

Its subsidiary Fresenius Medical Care, publicly traded separately, specializes in dialysis equipment.