Christian Health Group Agaplesion (Frankfurt) and Lower Saxony hospital company proDiako (Rotenburg / Wümme) are planning to team up., with the relevant contracts already signed by the governing bodies of both sides. However, the merger must still be approved by the German Federal Cartel Office.
The combined revenue of these 2 companies is in excess of EUR 1bn – enough to position the company in the top ten of the healthcare market. Across both companies, more than 17,000 people work in around 100 facilities. Among them are 31 hospitals, 30 residential homes and nursing hospices, medical centres and home care services.
The Frankfurt-based health care company has grown rapidly: founded in 2002, nonprofit corporation Agaplesion used its profits to further its expansion, instead of providing dividends to shareholders. Today, Agaplesion has 80 institutions nationwide. As geriatrics providers, Agaplesion already ranks amongst the largest in Germany.
With the incorporation of proDiako GmbH (Sales: EUR 290m) the company is increasing its annual sales (EUR 740m) to a new level. Usually, Agaplesion takes 60% of a company on a „shares in exchange for shares“ basis, and this is likely to be the case with proDiako, whose balance has slipped into the red the past 2 years.
In addition to the deal itself, Agaplesion might assume control of the very modern EUR 130m hospital being built in the Vehlener Feldmark region. The state of Lower Saxony has subsidised this project to the effect of EUR 95m.
[ilink url=“http://www.agaplesion.de/fileadmin/agaplesion/PRESSE_INFOCENTER_D/Pressemitteilungen/Pressemitteilungen_2012/PM_Zusammenschluss_zwischen_AGAPLESION_und_proDIAKO_besiegelt.pdf“] Link zur Quelle (Agaplesion)[/ilink]