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euro adhoc: Curanum AG
Mergers - Acquisitions - Takeovers
CURANUM acquires seven facilities in North-Rhine Westphalia and plans to open up a new facility in Lower Saxony

  Disclosure announcement transmitted by euro adhoc.
  The issuer is responsible for the content of this announcement.
09.12.2005
CURANUM AG, Munich, will be taking over the operation of seven care
facilities of the Dr. Lohbeck-Gruppe in Schwelm. The locations
comprise a total of 890 care places and are currently generating
sales of EUR 22.0 million, at an EBITDA margin of 6.5%.
The establishments are located in Schwelm, Ennepetal, Wuppertal,
Hagen and Iserlohn in North-Rhine Westphalia and are situated in the
direct vicinity of existing CURANUM AG facilities. High synergy
effects by the bundling of secondary services and flexible personnel
deployment will bolster the earnings power of the new and the
existing establishments. Additional margin enhancing factors are
lower costs of materials thanks to the central CURANUM purchasing
organization, and an increase in capacity utilization.
As of January 1, 2006, CURANUM will be leasing the seven facilities
at an annual lease payment of EUR 7.5 million for a period of 15
years (+ 2 x 5 years option). The company will make an advance lease
payment of EUR 10.0 million, which will be set off against the lease
payments during the contractual period.
With a look to the next year, CURANUM AG is planning to increase the
sales revenues of the new facilities to EUR 23.3 million, and
generate EBITDA of around EUR 2.0 million.
In Bad Lauterberg, Lower Saxony, CURANUM AG will open up a new
facility with 131 care places and 18 sheltered living apartments in
autumn of 2006. High synergy effects by the bundling of secondary
services with existing CURANUM facilities in Lower Saxony are also
expected in this new facility.
Munich, December 9, 2005
The Management Board
end of announcement                               euro adhoc 09.12.2005 08:08:40

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
Börsen: Frankfurter Wertpapierbörse / regulated dealing/prime
standard
Bayerische Börse / regulated dealing
Berliner Wertpapierbörse / free trade
Hamburger Wertpapierbörse / free trade
Baden-Württembergische Wertpapierbörse / free trade
Börse Düsseldorf / free trade
Bremer Wertpapierbörse (BWB) / free trade

Original-Content von: Korian GmbH, übermittelt durch news aktuell

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