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MEDICLINIC INTERNATIONAL LIMITED - Acquisition of Swissana Clinic Meggen

Release Date: 02/07/2014 17:30
Code(s): MDC     PDF:  
Wrap Text
Acquisition of Swissana Clinic Meggen

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 SWISSANA CLINIC MEGGEN

Shareholders are referred to the announcements 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 and on 25 June 2014 announcing
the acquisition of Clinique La Colline (“La Colline”) in Geneva, Switzerland.

Mediclinic is pleased to announce that it has reached agreement to acquire a 98% interest in the operating business of
Swissana Clinic AG in Meggen, canton Lucerne (“Swissana Clinic Meggen”) (hereinafter referred to as the “Transaction”).
The effective date of the Transaction is expected to be 8 August 2014.

Overview of Swissana Clinic Meggen and transaction rationale

Swissana Clinic Meggen has 11 inpatient rooms with a capacity of 22 beds, 11 day surgery beds and 3 operating theatres.

The Transaction is in line with the Company’s strategy to increase capacity in attractive markets with strong fundamentals.
For a number of years Hirslanden has operated the Klinik St. Anna in Lucerne, as well as the AndreasKlinik in Cham, and
with the acquisition of Swissana Clinic Meggen, it is expanding its presence in Central Switzerland. Swissana Clinic Meggen
will benefit from synergies with Klinik St. Anna with respect to occupancy, quality management and purchasing. Following
the Transaction and together with the recent acquisition of La Colline in Geneva, Hirslanden will operate 16 hospitals across
Switzerland.

Purchase consideration

The total enterprise value paid for Swissana Clinic Meggen will be c.CHF11m. Based on the LTM pro-forma results, the
Transaction is earnings per share (“EPS”) neutral, with expected synergies to be realised in the short to medium term.

Stellenbosch
2 July 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: 02/07/2014 05:30:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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