Waterland adds Klinikzentrum Mühlengrund to MEDIAN
Waterland Private Equity has expanded its portfolio company MEDIAN by adding Klinikzentrum Mühlengrund in north Hesse. Mühlengrund is a modern facility for inpatient rehabilitation in the indications of orthopaedics, internal medicine/cardiology, diabetology, neurology and psychosomatics. The acquisition marks the extension of MEDIAN’s range of medical and therapeutic services and complements MEDIAN’s regional presence in Hesse.
“Klinikzentrum Mühlengrund is a perfect addition to MEDIAN. Featuring more than 550 beds and 530 employees with the highest standard of professional expertise, the clinic has been a reputable institution in the Waldeck tourist region for decades,” says MEDIAN CEO Dr André Schmidt. “By taking this step, we continue to systematically pursue our goal of offering an exhaustive range of services in the field of post-acute treatments and rehabilitation throughout Germany.”
Dr Carsten Rahlfs, Partner at Waterland, adds, “We congratulate the group on the addition of a highly qualified team through this acquisition and continue to strategically and financially promote MEDIAN’s growth trajectory. Further transactions to expand the group are lined up for this year.” Since Waterland’s initial investment in MEDIAN (formerly RHM-Kliniken) in 2011, the group has already executed 17 add-on acquisitions with the support of its shareholders. In the process, company turnover has grown from 70 million euros in 2011 to almost 1 billion euros today.
Leading position in rehabilitation medicine
“Together with the doctors, therapists and nursing staff of Klinikzentrum Mühlengrund, we aim to expand our leading position in rehabilitation medicine based on MEDIAN-evaluated treatment pathways,” Dr André M. Schmidt says. “The clinic’s integration will not affect day-to-day operations, employees or patients. Once the takeover has been completed, we plan to gradually incorporate the existing systems into our IT infrastructure and quality management setup, as well as incrementally switch over to the MEDIAN service standards. The construction projects already under way at Klinikzentrum Mühlengrund will be continued.”
In post-acute treatments and rehabilitation, MEDIAN focuses on standardised, evidence-based therapeutic concepts, superior medical quality, the ongoing systematisation of expertise and group-wide knowledge sharing. For this purpose, the company has been investing heavily in the IT setup of its clinics for some time now. This further enables the promotion of digital initiatives that start prior to patient treatment and continue to work long after the stay in the post-acute treatment facilities in order to optimize patient outcomes.
The deal remains subject to cartel clearance. The parties have agreed not to disclose the purchase price.
MEDIAN is a modern healthcare company with 120 rehabilitation clinics, acute hospitals, therapy centres, outpatient clinics and reintegration facilities and employs a headcount of approximately 15,000 in 14 German federal states. Being the largest private operator of rehabilitation facilities in Germany with 18,000 beds and treatment places, MEDIAN covers an ample spectrum of therapeutic areas and is at the forefront of adopting value-based healthcare in post-acute to optimize patient outcomes.
Waterland is an independent private equity investment group that helps companies make their plans for growth a reality. Through substantial financial support and industry expertise, Waterland facilitates accelerated growth – both organic and through acquisitions – for its investments. Waterland has offices in the Netherlands (Bussum), Belgium (Antwerp), Germany (Munich and Hamburg), Poland (Warsaw), the United Kingdom (Manchester) and Denmark (Copenhagen). Capital commitments of 6 billion euros are currently under management.
Since it was established in 1999, Waterland has achieved a consistently high, above-average performance with its investments and has regularly ranked among the world’s top three leading private equity firms in the past HEC/Dow Jones Private Equity Performance Rankings prepared by Prof. Gottschalg from the HEC Paris Business School.
Waterland has already completed more than 400 deals in over 50 different markets. In addition to MEDIAN, Waterland’s German portfolio also comprises, inter alia, the ATOS clinic group and the software companies Swyx and Serrala.