A consortium of construction companies Porr and Strabag takes over the Austrian core business of the domestic hospital operator and healthcare provider Vamed for 90 million euros.
Shares in several thermal baths in Austria (including Therme Wien, Geinberg, St. Martins), the technical management of the Vienna General Hospital (AKH Vienna) and the Austrian one are taken over Vamed project businessas the company announced in a press release on Wednesday.
The Hospital service area (Sales share 30 percent) goes to the Vamed majority owner Fresenius transmitted. The international project business (“Health Tech Engineering”) is to be “gradually and orderly reduced”.
The process is expected to be completed by 2026
This process is expected to be “largely completed” by 2026. The current project contracts are being fulfilled. The international project business recently accounted for around 15 percent of Vamed’s sales. “We are striving for socially acceptable solutions for the affected employees,” said Vamed boss Klaus Schuster.
Vamed is 77 percent owned by the German healthcare group Fresenius, 10 percent is held by B&C Holding and 13 percent by the Republic of Austria. The hospital operator and healthcare provider’s turnover was recently over 2 billion euros.
In May 2023, Fresenius boss Michael Sr reported serious structural problems at Vamed and announced an inspection. The German DAX group announced at the time that it would only treat the clinic service provider and thermal spa operator as an investment in the future, despite a majority stake.
The acquisition of the Austria’s business Vamed is to be carried out through a joint investment company in which Porr and Strabag will each hold a 50 percent stake. The transaction is still subject to approval by the relevant competition authorities.
Great responsibility for construction giants
“We want to further increase our depth of added value in this segment and expand our expertise in technical facility management, specifically in the demanding medical sector,” says Strabag boss Klemens Haselsteiner.
“We look forward to working in partnership with the City of Vienna as part of the operational management and construction projects of the AKH – we are aware of the great responsibility we are taking on,” said Porr CEO Karl Heinz Strauss.
