Medical Properties Trust, Inc. (NYSE: MPW) (“MPT”) will acquire a minority interest, along with Waterland Private Equity (”Waterland”) acquiring the remaining shares, in MEDIAN Kliniken (“MEDIAN”), Germany’s largest private operator of rehabilitation clinics, from Advent International and Marcol. MPT has also entered into definitive agreements pursuant to which it will acquire and lease back substantially all of the clinics of MEDIAN.
Network Corporate Finance acted as exclusive debt advisor to MPT for the real estate debt for the planned sale and leaseback transaction, the existing debt and the acquisition debt.
Transaction
Waterland will acquire 94.9% and MPT 5.1% of the shares of MEDIAN Kliniken from Advent International and pan-European investor Marcol. As a second step, MPT intends to further acquire and lease back substantially all of the real estate assets of MEDIAN for an aggregate purchase price of c. €705 million after closing of the acquisition.
Company
MEDIAN Kliniken, one of the largest operators of post-acute and acute hospitals in Germany, has approximately 7,500 employees. MEDIAN Kliniken is headquartered in Berlin and operates nationwide 45 clinics with 9,500 beds, specializing in neurologic, cardiologic, psychosomatic and orthopaedic rehabilitation. The hospital group has pursued an organic and external growth strategy and recently acquired Atos Kliniken located in Munich and Heidelberg.
For additional information on MEDIAN: www.median-kliniken.de
