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MEDICLINIC INTERNATIONAL LIMITED - Acquisition of Clinique La Colline

Release Date: 25/06/2014 12:00
Code(s): MDC     PDF:  
Wrap Text
Acquisition of Clinique La Colline

Mediclinic International Limited
(Incorporated in the Republic of South Africa)
(Registration number 1983/010725/06)
JSE share code: MDC ISIN: ZAE000074142
("Mediclinic" or "the Company")

ACQUISITION OF CLINIQUE LA COLLINE

Shareholders are referred to the announcement released on SENS on 11 June 2014 in which the Company set out its
intentions to raise equity capital to fund various acquisitions and investment opportunities, one of which is an acute care
multi-disciplinary hospital in Switzerland.

Mediclinic is pleased to announce that all conditions precedent to the transaction have been fulfilled and subsequently its
Swiss business, Hirslanden, has acquired a 100% interest in the operating business of Clinique La Colline ("La Colline") in
Geneva, Switzerland (hereinafter referred to as "the Transaction").

Overview of La Colline and transaction rationale

La Colline is a multi-disciplinary medical and surgical private hospital with 95 beds (including inpatient, outpatient and
specialty beds) and six operating theatres equipped for general, endoscopic, and navigation-assisted surgery.

La Colline has a significant market share in orthopaedic treatments performed in Geneva. Other treatments offered at La
Colline include internal medicine, visceral surgery, neurology, ophthalmology, general surgery, urology, plastic surgery, and
gynaecology.

The Transaction significantly strengthens Hirslanden's position in Western Switzerland, through providing a footprint in
Geneva, and is in line with the Company's strategy to increase capacity in attractive markets with strong fundamentals.

Purchase consideration

The total enterprise value paid for La Colline will be c.CHF130m representing a LTM EV/EBITDA multiple of 8.7x. The
Transaction is earnings per share accretive to the Company immediately.

Stellenbosch
25 June 2014

Mediclinic Offices, Strand Road, Stellenbosch 7600, South Africa
PO Box 456, Stellenbosch 7599, South Africa
Tel: +27 (0)21 809 6500
Fax: +27 (0)21 886 4037
Ethics Line: 0800 005 316
Website: www.mediclinic.com

Financial adviser and sponsor
Rand Merchant Bank (A division of FirstRand Bank Limited)

Date: 25/06/2014 12:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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