All Stories
Follow
Subscribe to Korian GmbH

Korian GmbH

euro adhoc: Curanum AG
Mergers - Acquisitions - Takeovers
CURANUM to acquire ELISA Seniorenstift GmbH

  Disclosure announcement transmitted by euro adhoc. The issuer is responsible
  for the content of this announcement.
Acquisition
26.11.2007
CURANUM AG, Munich, is to take over six care homes operated by ELISA 
Seniorenstift GmbH effective January 1, 2008, from the Munich-based 
Doblinger Group. The six facilities located in Aschaffenburg, 
Frechen, Herne, Hilden, Cologne and Ulm with a total of 435 nursing 
beds, as well as 755 sheltered living apartments with ambulant 
service units generate a turnover of EUR 34.2 million and operating 
profit (EBITDA) of EUR 2.4 million.
CURANUM AG will acquire the operation of the facilities including a 
cash balance of around EUR 3 million and real estate valued at around
EUR 7 million (including a EUR 4.8 million charge) in return for a 
total price of EUR 20.6 million.
The geographical location of the ELISA Seniorenstift facilities will 
enable them to be integrated into the existing CURANUM AG cluster 
system and benefit from the associated synergy effects resulting from
bundling secondary services.
This brings the number of facilities operated by CURANUM AG with 
effect from January 01 next year to 68, with accommodation for 7,735 
residents and 1,630 managed apartments.
Munich, November 22, 2007
The Management Board
end of announcement                               euro adhoc 26.11.2007 10:16:09

Further inquiry note:

Bernd Rothe
Tel.: +49 (0)89 242065-60
E-Mail: bernd.rothe@curanum.de

Branche: Healthcare Providers
ISIN: DE0005240709
WKN: 524070
Index: CDAX, Classic All Share, Prime All Share, SDAX
Börsen: Börse Frankfurt / regulated dealing/prime standard
Börse Berlin / free trade
Börse Hamburg / free trade
Börse Stuttgart / free trade
Börse Düsseldorf / free trade
Börse München / regulated dealing

Original content of: Korian GmbH, transmitted by news aktuell

More stories: Korian GmbH
More stories: Korian GmbH