Investment Holding Limited agrees to acquire Hirslanden Group, the largest private acute care hospital group in Switzerland
Remgro Limited (Remgro) and Investment Holding Limited (IHL), a subsidiary of MSC Mediterranean Shipping Company Holding SA, have agreed that IHL will acquire 100 per cent of all shares in Hirslanden AG and its subsidiaries, comprising the Swiss business of Mediclinic group, and that Remgro will acquire 100 per cent of Mediclinic International Proprietary Limited (MCSA), comprising the South African business of Mediclinic group. Following the implementation of the proposed transaction, Remgro and IHL will continue to hold their respective joint interest in the Middle East business, conducted by the EHH group, and the Spire business, held through Spire Healthcare Group plc. Each of the Hirslanden transaction and the MCSA transaction will be executed at the same consideration of USD 950 million.
Niederer Kraft Frey acts as lead counsel to IHL on all aspects of the acquisition of Hirslanden as well as the restructuring of IHL’s and Remgro’s respective interests in Mediclinic group.
The Hirslanden Group, formed in 1990, is the largest private acute care hospital group in Switzerland servicing approximately one third of inpatients treated in Swiss private hospitals. The hospital services range from routine procedures and medical treatment plans to highly specialised, complex and technologically advanced treatment modalities. Hirslanden Group has 16 hospitals, 5 outpatient surgery units and 1,769 inpatient beds.
The MCSA Group is a private hospital group operating in South Africa and Namibia focused on providing acute care, specialist-orientated, multi-disciplinary hospital services and related service offerings. The MCSA Group currently operates 50 hospitals, 15 day clinics, 6 sub-acute and 6 mental health facilities throughout South Africa and 3 private hospitals in Namibia, with more than 8,991 beds. These numbers include day clinics and sub-acute and specialised hospitals operated by Intercare, in which MCSA holds a majority stake.
The NKF team is led by Transaction partner Philip Spoerlé, working alongside partner Deirdre Ni Annrachain and partner Andrea Giger (both Transactions), partner Adrian Koller (Finance), partner Thomas Hochstrasser (Commercial), associates Manuel Hirlinger, Victoria Hotz and Alexander Züger (all Transactions), counsel Marc Vogelsang (Tax), and partner Nicolas Birkhäuser, associate Lukas Poschung and junior associate Xaver Dill (all Merger Control).