Waterland: MEDIAN signs two acquisitions in one day
Berlin/Eschenburg/Düsseldorf — MEDIAN, a portfolio company of the investment firm Waterland Private Equity and the largest private operator of rehabilitation clinics in Germany, signed two takeover agreements on July 18, thus continuing its buy & build activities. With the Eschenburg Clinic and the Düsseldorf Rhein-Reha, MEDIAN is further expanding its leading position in the rehabilitation market. The parties have agreed not to disclose the purchase price or further financial details of both transactions.
In the Lahn-Dill district of central Hesse, MEDIAN takes over the Eschenburg Clinic. It complements the range of services in the core area of addiction and dependency disorders. It offers 87 treatment beds and a wide range of treatment for drug and alcohol addiction. A special competence of the Eschenburg Clinic is the treatment of addiction problems of elderly people. The clinic also includes three outpatient facilities in Dillenburg, Wetzlar and Giessen. Through this acquisition, MEDIAN is not only expanding its status as the largest private rehabilitation company in Germany. With a total of 30 specialist clinics and adaptation houses nationwide, MEDIAN is now also the market leader in the field of rehabilitation for addiction and dependency disorders. MEDIAN is also continuing its growth course in northern Rhineland-Palatinate and Hesse. In January 2019, the healthcare company had already acquired Kliniken Wied GmbH & Co. KG in the Westerwald region, 65 kilometers away. Both facilities have a similar performance profile and are to cooperate closely in the future.
In Düsseldorf, MEDIAN will take over the Outpatient Cardiology Rehab Center Rhein-Reha, the takeover will be completed at the turn of the year 2019/20. Rhein-Reha will be integrated with its entire clinic operations and also by name under the umbrella of MEDIAN’s already existing Outpatient Health Center Düsseldorf. The transition will be designed for all patients and employees without interrupting ongoing treatments.
Dr. Carsten Rahlfs (photo), Managing Partner of Waterland, says: “The demand for rehab services for the treatment of addiction and dependency disorders is growing steadily. MEDIAN, as the new number one in this specialist area, will benefit from the expertise of Klinik Eschenburg. This is because the facility enjoys an excellent reputation and ideally complements MEDIAN’s presence in the region. In addition, we are pleased about the expansion of the range of services in cardiology through the acquisition of the Düsseldorf Rhein-Reha. The center’s clout will be fully developed after the integration has been completed at the beginning of next year.”
Since Waterland’s entry as a shareholder, MEDIAN has now taken over 21 individual clinics and clinic groups and integrated them into the group of companies. In doing so, MEDIAN is aiming for quality leadership in medical rehabilitation and is investing heavily in the expansion of therapy offerings, in additional staff, in the digitalization of processes and in the modernization of clinic buildings. Together with the new facility, the Group comprises around 120 clinics and facilities with 18,500 beds, treating more than 230,000 patients annually. The healthcare company, which employs around 15,000 people, includes rehabilitation clinics as well as acute psychiatric hospitals, therapy centers, outpatient clinics and reintegration facilities in 13 German states. The company thus offers nationwide coverage of so-called aftercare and participation services in all specialist areas.
With Waterland’s support, MEDIAN plans to further consolidate the German rehabilitation market — both in terms of expanding its regional presence and in additional medical specialties. In addition, MEDIAN aims to further integrate patient pathways and to implement evidence-based medicine even more strongly in its therapy offerings.
As a shareholder in MEDIAN, the independent investment company Waterland Private Equity has extensive experience in the healthcare sector. In addition to MEDIAN, the portfolio in Germany includes, for example, ATOS, a group of somatic acute-care clinics specializing in cutting-edge orthopedic medicine, and the care service provider Schönes Leben Group, a service platform for outpatient, inpatient, and open geriatric care as well as mobile services, assisted living, and leisure activities. Waterland also holds a significant stake in Hansefit, a leading network association for company sports and health services with more than 1,400 affiliated fitness studios. Waterland’s portfolio of companies in the healthcare sector was joined at the beginning of the year by Rehacon, where the investor has already supported four acquisitions. Today, Rehacon is one of the leading providers of physiotherapy services and therapy offerings in Europe. Nationwide, the company operates more than 120 therapy centers and employs over 800 people.
Waterland is an independent private equity investment firm that helps companies realize their growth plans. With substantial financial support and industry expertise, Waterland enables its portfolio companies to achieve accelerated growth both organically and through acquisitions. Waterland has offices in the Netherlands (Bussum), Belgium (Antwerp), Germany (Hamburg, Munich), Poland (Warsaw), the UK (Manchester), Denmark (Copenhagen) and Switzerland (Zurich). Currently, six billion euros in equity funds are under management.