ÖBAG sells 13-percent stake in VAMED to majority owner Fresenius

German healthcare group Fresenius and Österreichische Beteiligungs AG (ÖBAG) have agreed to exercise a call/put-option set up in 1996. ÖBAG is thus selling its remaining 13 percent stake in VAMED to the majority shareholder. The parties have agreed not to disclose the purchase price, which is based on the terms of the previous privatization agreement.

“By taking this step, we are finalizing the exit agreed already in 1996,” explained Edith Hlawati, CEO of ÖBAG. “It was important to us that VAMED’s assets are sold to partners who have an interest in the local thermal spa resorts and rehabilitation facilities and who will take responsibility for all employees.”

Fresenius recently announced its structured exit from VAMED to create long-term development opportunities for VAMED’s various business segments under a new ownership structure. This includes the sale of VAMED’s rehabilitation line of business announced a few weeks ago and a recent agreement on the sale of VAMED’s Austrian business activities (including the operating contract for the Vienna General Hospital and the thermal resorts) to Strabag and Porr.