Genolier Swiss Medical Network (GSMN) / Letter of Intent/Letter of Intent
Opening of negotiations with Bethanien Clinic in Zurich
Bethanien would become GSMN's development platform in German-speaking
Switzerland
The Boards of Directors of GSMN and Bethanien Clinic in Zurich signed a
letter of intent yesterday, regarding the integration of the Zurich clinic
into the GSMN network. The letter of intent gives GSMN a 3 month exclusive
negotiations period with Bethanien Clinic and foresees the acquisition of
at least 90% of Bethanien's capital. Completion of the deal is scheduled
for late June 2009.
Raymond Loretan and Antoine Hubert, respectively Chairman and CEO of
Genolier Swiss Medical Network, yesterday presented a firm offer to the
Board of Directors of Bethanien Clinic aimed at integrating the Zurich
clinic into the network by acquiring at least 90% of the share capital of
the operating company. The positioning and philosophy of Bethanien Clinic,
which are focused on high quality medicine and hotel services, are exactly
in line with those of GSMN.
The roots of Bethanien Clinic go back to the philosophy of the charitable
foundation of the same name. The clinic is situated on a prime elevated
site on the Z¨¹richberg. It has 111 beds and treats over 5,000 patients each
year. With around 180 admitting physicians, Bethanien Clinic provides a
broad range of specialties, including general surgery, gynaecology and
obstetrics, ear, nose and throat, maxillo-facial surgery, orthopaedic
surgery, plastic and reconstructive surgery, urology and abdominal surgery.
The project includes an investment of more than CHF 15 million over 3 years
in Bethanien's infrastructure, in order to further strengthen the medical
and hotel service offerings. GSMN intends to continue and intensify the
clinic's collaboration with its admitting physicians, in line with the
Group's achievements in Clinique de Genolier, Clinique de Montchoisi,
Clinique de Valmont-Genolier and Clinique G¨¦n¨¦rale: the development of
independent establishments, well integrated in the regional sanitary
network, which benefit from the strength and structural organisation of a
nationwide group.
This potential integration is an additional step towards the realisation of
GSMN's long-term objectives, namely building up a network of private
clinics that is present in several cantons at a national level. Just like
the integration of the other clinics in the GSMN network, major synergies
will be realised with Bethanien Clinic, particularly at the level of
purchasing, marketing, IT, relationships with insurance companies, etc.
Once this acquisition is finalised, GSMN will have a solid base in Zurich
to continue to expand in German-speaking Switzerland.
GSMN (Genolier Swiss Medical Network) AG is the leading private hospital
network in French-speaking Switzerland (Romandie). Its growth strategy is
focused on building a national network by acquiring clinics and integrating
their operations. GSMN's main goal is on providing premium hospital care to
Swiss and foreign patients. GSMN distinguishes itself over other healthcare
providers on the basis of its quality of services, high brand value,
congenial working environment and an experienced and entrepreneurial
management team. Presently, GSMN has 4 fully owned private hospitals in its
portfolio (Clinique de Genolier, Clinique de Montchoisi, Clinique
Valmont-Genolier and Clinique G¨¦n¨¦rale), with 338 operating beds and more
than 200 additional licensed beds for organic growth, as well as Centre
m¨¦dico-Chirurgical des Eaux-Vives (CMEV), an out-patient consult and
oncology centre in Geneva. In 2009, GSMN will realise a turnover of more
than CHF 145 million. The Group is listed on the Main Segment of the SIX
Swiss Exchange (GSMN.SW).
For more information:
GSMN press department
Media Impact - G¨¦rard Sermier
Rue de Lausanne 42 © 1201 Geneva
Tel +41 (0)22 732 59 97 © Fax +41 (0)22 738 62 01
info@mediaimpact.ch
Factsheet: Bethanien Private Clinic (PDF-file).