Ad-hoc | 22 October 2009 19:01
Genolier Swiss Medical Network (GSMN) / Acquisition/Acquisition 22.10.2009 Dissemination of a Adhoc News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Genolier Swiss Medical Network today signed an agreement with Diakonie-Bethanien and the principal shareholders of Privatklinik Bethanien to acquire 74.04% of its capital. The company's physician-shareholders will have to confirm the agreement until the end of November. The operation will be financed by a bank loan, vendor financing and from shareholders' equity. Privatklinik Bethanien will be consolidated in GSMN with effect from 1 January 2010. The agreements signed today with Diakonie and the principal shareholders (74.04%) involve payments of CHF 370 per share, equivalent to CHF 18.5 million for 100% of the capital, and will become effective only if 90% of the capital has been acquired. The physician-shareholders who hold the balance of the shares will have to confirm the agreement until the end of November. Privatklinik Bethanien AG will acquire a number of operating assets from Diakonie-Bethanien, which will retain ownership of the properties. A 25-year lease with two renewal options has been signed between Diakonie and the operating company, Privatklinik Bethanien AG. In the next three years GSMN plans to invest over CHF 15 million in Privatklinik Bethanien's medical infrastructure and hotel facilities. Banque Migros is funding this operation by providing acquisition, capital expenditure and working capital financing. The acquisition of Privatklinik Bethanien will take the 2010 turnover of Genolier Swiss Medical Network beyond CHF 200 million, and will provide a platform for further development in German-speaking Switzerland. Genolier Swiss Medical Network AG (GSMN) is the leading private hospital network in French-speaking Switzerland. Its growth strategy is focused on building a national network by acquiring clinics and integrating their operations. GSMN's main goal is to provide premium hospital care to Swiss and foreign patients. GSMN stands out from other healthcare providers through its high-quality services, brand value, congenial working environment and an experienced and entrepreneurial management team. From 1 January 2010 GSMN will have six fully owned private facilities in its portfolio (Clinique de Genolier, Clinique de Montchoisi, Clinique Valmont-Genolier, Clinique Générale, Centre medico-chirurgical des Eaux-Vives and Privatklinik Bethanien), with nearly 550 admitting physicians and 820 employees. The Group is listed on the Main Segment of the SIX Swiss Exchange (GSMN.SW). Séverine Van der Schueren Secretary-General GSMN Tel.: + 41(0)22 366 99 87 svanderschueren@gsmn.ch 22.10.2009 Financial News transmitted by DGAP ---------------------------------------------------------------------------