Genolier Swiss Medical Network (GSMN): Genolier Shareholders Vote for New Leadership

Genolier Swiss Medical Network (GSMN) / AGM/EGM/AGM/EGM

11.06.2010 11:14

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Genolier, 10 June 2010 - At yesterday's Annual General Meeting 2010 the
shareholders of Genolier Swiss Medical Network SA voted for a new
leadership. The shareholders followed the criticism of Lincoln Vale, who
expressed its disappointment about the past performance of GSMN and believe
that the company's true potential has not yet been exploited. Managing
Director Antoine Hubert got voted down as was Chairman Raymond Loretan as
well as Antoine Kohler. The majority of the shareholders only expressed
faith in the existing board members Prof. Dr. Hans-Reinhard Zerkowski, Dr.
Michael Schroeder and Robert Pennone. Berney & Associés S.A. was elected as
new auditor of the company. Due to the submission of a wrong voting card
five proposed new board members were not elected. Although it was noticed
immediately, chairman Loretan decided not to recognize the apparent
mistake. The former board was granted discharge.
'After an unsatisfactory 2009 a majority of the shareholders felt it
appropriate to replace the leadership to fully exploit the potential of the
company', said Prof. Dr. Hans-Reinhard Zerkowski, taking responsibility as
Managing Director to guarantee continuity. 'Strengthening care and
physicians will allow us to fulfill patient's demands on the highest
level', he added.
In 2009 Genolier reported revenues of CHF 139m, with an EBITA of CHF 8.8m
and an EBIT of CHF -0.17m. Including CHF 3.0m from discontinued operations,
Net Profit 2009 amounted to CHF 1.9m.

New Operational Management
At its first meeting following the election the new Board of Directors
decided to relieve Managing Director Antoine Hubert and Operational
Director Valérie Dubois-Héquet of their operational duties. They were
replaced with immediate effect by Prof. Dr. med. Hans-Reinhard Zerkowski
and François Brot.
Prof. Zerkowski, who replaces Antoine Hubert as Managing Director, is a
professor of cardio-thoraic surgery, and CEO of Lifebridge  Medizintechnik
AG, Ampfing (Germany). He holds a doctor's Degree of Medicine (MD) and was
a full professor in Germany as well as Basel (CH). He has served on the
Board of Directors of Genolier Swiss Medical Network SA since June 2008.
François Brot served as CEO of the Clinique Permanence Medico-Chirurgicale
de Chantepoulet, Geneva, since 2009. He has a long experience in the health
care field. He led several restructuring projects and mergers of hospitals.
Brot started his career in the financial industry as member of the UBS
management team for the French part of Switzerland.

About Genolier Swiss Medical Network SA
Genolier Swiss Medical Network SA is a major private hospital network in
Switzerland, listed on the main segment of the Swiss Stock Exchange SIX
(GSMN:SW). The group's growth strategy focuses on the development of a
national hospital network through the acquisition of clinics and the
integration of their operations. GSMN's main goal is to provide top-quality
hospital care to Swiss and foreign patients. GSMN manages six private
hospitals in Switzerland: Clinique de Genolier, Clinique de Montchoisi,
Clinique Valmont, Clinique Générale, Centre medico-chirurgical des
Eaux-Vives and Privatklinik Bethanien. The total number of beds of the six
clinics is 501. The group employs 1072 staff members. In 2009 GSMN reported
revenues of CHF 139m, an EBITDA of CHF 8.8m and a Net Profit of CHF 1.9m.

For further information
Sacha Wigdorovits
Contract Media AG
T +41 44 209 60 00
M +41 79 404 17 05

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