Private equity firms in race to buy minority stake in German clinic chain Schoen Klinik

Private equity firms are in the race to buy a stake in German clinic chain Schoen Klinik, in a deal that may value the country's largest owner-managed clinic group at around €1.5 billion ($1.7 billion), Reuters today reported, citing sources.

Three private equity firms - CVC, EQT and Carlyle - as well as a family office - have entered into the second round of bidding and are expected to submit an offer for a minority stake by a mid-June deadline, the report said.

Schoen Klinik, owned by Dieter Schön and his family, had earlier put a stake up for sale in order to generate capital for expansion.

Founded in 1985, Schoen Klinik operates 17 specialist hospitals in Bavaria, Schleswig-Holstein, Hessen and Hamburg
 
It employs over 9,400 people, has 101,000 inpatients per year and focuses on orthopaedics, neurology, surgery and internal medicine.

In 2015, Schoen Klinik posted adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) of €130 million on sales of €743 million.