• VAMED's core business in Austria to be sold to a consortium of Austrian construction companies Porr and Strabag.
• VAMED’s hospital services unit to be transferred to the Fresenius Group.
• VAMED's international project business to gradually be scaled back in an orderly manner. Current project contracts are to be fulfilled.

An Austrian consortium of construction companies Porr and Strabag has agreed to acquire Austrian activities of VAMED, a leading provider of services for hospitals and other healthcare facilities. Fresenius Group, VAMED's main shareholder, reached a final agreement with the consortium on Tuesday.

The transaction includes VAMED’s entities responsible for the technical management of the Vienna General Hospital (AKH Wien), the Austrian project business that is part of VAMED’s Health Tech Engineering segment and shares in several spas throughout Austria.

VAMED’s High-End Services (HES) business unit, which provides services for Fresenius Helios and other hospitals, will be transferred to Fresenius. HES generates around half of its revenue through its provision of services to Helios hospitals, which are part of Fresenius Group. It offers facility and medical technology management for a total of more than 840 hospitals. HES is a stable business with good growth prospects and accounts for around 30% of VAMED's revenue.

The Health Tech Engineering segment, which is responsible for the international project business and accounts for around 15% of Vamed's revenue, will gradually be scaled back in an orderly manner. The process should largely be completed by 2026. Until then, the business will be reported as a special item outside Fresenius' core business. Current project contracts will be fulfilled.

Klaus Schuster, Spokesman of the Management Board of VAMED, said: 'We have found viable solutions for the vast majority of VAMED's individual business units, creating good prospects for the future. They have all the prerequisites to develop successfully under new ownership. The international project business, which has been loss-making for some time, will be phased out in an orderly manner. Current project contracts will be fulfilled to their full extent. For the employees affected, we are committed to finding socially acceptable solutions. All in all, there is now clarity, which is in the best interests of our customers and partners, our colleagues and our patients.’

Last week, VAMED announced the agreement to sell the majority of the post acute care business (in particular the rehabilitation business) to PAI Partners (‘PAI’). PAI is to become the majority owner of the business with 67 per cent, which will be combined in a new, independent company under the umbrella of PAI. Fresenius will hold 33 per cent.