PORR and STRABAG acquire parts of the VAMED Group

PORR and STRABAG are taking over the AKH management and construction projects of Vienna General Hospital, the Austrian project development business of VAMED and Austrian thermal spa holdings. For PORR, this is about expanding a strategically important business sector: the company has been involved in the planning, construction and operation of healthcare facilities for 20 years.

Together with STRABAG SE, PORR AG has reached an agreement in principle regarding the acquisition of parts of the VAMED Group. Accordingly, the following parts will be acquired:

- the AKH operations and construction projects of Vienna General Hospital (as part of the subsidiaries VKMB and VKP)
-the Austrian project development business of VAMED (as part of VSG and its subsidiaries)
- Austrian thermal spa investments

The seller is VAMED AG, which is majority-owned by the German Fresenius SE & Co. KGaA in Germany. The project development business outside Austria, the hospital services business and the VAMED post-acute business, in particular the rehabilitation business, which was recently sold to PAI Partners, are not part of the package.

The acquisition will take place via a joint holding company, whereby PORR AG and STRABAG SE will each hold a 50% stake, subject to the approval of the Supervisory Board of STRABAG SE. The purchase price for PORR amounts to EUR 45m and will be paid in instalments. The transaction is also subject to the approval of the relevant competition authorities.

Complex management task.

For PORR CEO Karl-Heinz Strauss, the acquisition is a logical expansion of a strategically important business sector. "PORR is and will remain a construction company with a major focus on infrastructure. However, as a company that takes its responsibility towards society seriously, our commitment goes much further. This is why PORR has been involved in the planning, construction and holistic operation of healthcare facilities for 20 years. It has extensive experience in this field,’ says Strauss. ‘We look forward to working in partnership with the City of Vienna on the operational management and construction projects of the AKH - we are aware of the great responsibility we are taking on."

The construction and operation of hospitals and healthcare facilities are among the most complex management tasks of all. Project development, planning, construction and operation are highly interlinked and a functioning hospital requires in-depth knowledge in all of these areas.

Through its stake in the Hospitals Group, PORR is already involved in a total of eight clinics and healthcare facilities. The aim of the Hospitals Group is to provide expertise along the entire value chain, from the initial project idea through to successful operation, based on many years of working with and in a wide range of healthcare facilities. PORR manages several clinics in partnership with social insurance organisations.