Fribourg, 27 May 2019
AEVIS VICTORIA SA: new strategic partner for Infracore, alongside AEVIS and Baloise Group
Baloise Group increases its participating interest to 35% and Medical Properties Trust acquires a stake of 46% in Infracore SA
Within the process initiated at the beginning of the year, AEVIS VICTORIA (AEVIS) has successfully placed 61% of the share capital of Infracore SA (Infracore), its subsidiary dedicated to medical infrastructure. Baloise Group, which entered into the share-capital of Infracore in December 2018, increases its participation from 20% to 35%. Medical Properties Trust (MPT) takes a 46% stake in Infracore. As a strategic player in the global hospital real estate market, MPT was chosen for its experience and international presence, particularly in Europe. With Baloise Group and MPT, AEVIS forms a long-term partnership for the development of Infracore.
Baloise Group and Medical Properties Trust, two strategic shareholders for Infracore
Following a private placement process initiated in March 2019, AEVIS sold 61% of Infracore's share capital and retains a 19% stake. The Infracore shares were placed at a price of CHF 51 per share, valuing the company at approximately CHF 1 billion. In addition to Baloise Group, which increased its participation from 20% to 35%, MPT, a strategic investor listed on the New York Stock Exchange and exclusively specialised in hospital buildings for nearly 20 years, acquired a 46% stake in Infracore. With its independent and strengthened shareholder base, Infracore will remain Swiss Medical Network's preferred partner in the very long term to support its growth and strategy. Further to that, Infracore strengthens its unique ability to offer attractive solutions for the public and private healthcare infrastructure sector throughout Switzerland.
Strengthened balance sheet for AEVIS
Following this sale, AEVIS will post a consolidated Swiss GAAP FER profit of more than CHF 210 million in the first half year of 2019 and will see its net debt decrease by nearly CHF 700 million to CHF 360 million. With the deconsolidation of Infracore, AEVIS sees its balance sheet total at 30 June 2019 reduced to CHF 1.3 billion. AEVIS' consolidated shareholders' equity will thus be strengthened to more than 48%. The sale of 61% of Infracore will allow the additional distribution of reserves of CHF 3.80 per share, which will be proposed to the shareholders who convene in General Meeting today. AEVIS will have cash reserves and credit lines of nearly CHF 300 million, enabling the company to support the growth of its subsidiaries and invest in its strategic infrastructure, healthcare and lifestyle activities.
Focus on operational optimisation
Swiss Medical Network, AEVIS' operating subsidiary in the hospital sector, has significantly reduced its costs and improved its profitability, despite regulatory constraints and pricing pressures. Swiss Medical Network will continue to grow and to play its role as a consolidator in the healthcare sector, thus enabling the emergence of an integrated healthcare player in Switzerland, presenting a virtuous alternative to the current system. Digitalisation and new technologies are priorities for Swiss Medical Network and its decentralised, agile and patient-friendly development strategy. Victoria-Jungfrau Collection, AEVIS' hospitality subsidiary, is also pursuing its development and will soon reopen the Hotel Eden at Lake in Zurich, after a complete renovation. The catering offer receives particular attention, as it has become a strategic priority for all Victoria-Jungfrau Collection's hotels.
General Meeting of Shareholders
AEVIS will hold its General Meeting of Shareholders for the 2018 financial year today at 15:00 in Interlaken. In addition to the regular agenda items, shareholders will decide on an ordinary distribution of CHF 1.10 per share, an additional distribution of CHF 3.80 related to the private placement of Infracore shares and the division by five of the nominal value of the shares (share split). The latter measure aims to increase the liquidity and attractiveness of the share.
For further information:
AEVIS VICTORIA SA Media and Investor Relations: c/o Dynamics Group, Zurich
Philippe R. Blangey, [email protected], +41 (0) 43 268 32 35 ou +41 (0) 79 785 46 32
Séverine Van der Schueren, [email protected], +41 (0) 79 635 04 10
AEVIS VICTORIA SA - Investing for a better life
AEVIS VICTORIA SA invests in healthcare, lifestyle and infrastructure. AEVIS VICTORIA′s main shareholdings are Swiss Medical Network SA, the second largest group of private hospitals in Switzerland, Victoria-Jungfrau Collection AG, a luxury hotel group managing four luxury hotels in Switzerland, Infracore SA (19%), a real estate company dedicated to healthcare-related infrastructure, a hospitality real estate division, Medgate (40%), the leading telemedicine provider in Switzerland, and NESCENS SA, a brand dedicated to better aging. AEVIS VICTORIA is listed on the Swiss Reporting Standard of the SIX Swiss Exchange (AEVS.SW).
Medical Properties Trust, Inc.
Medical Properties Trust, Inc. is a self-advised real estate investment trust formed to capitalise on the changing trends in healthcare delivery by acquiring and developing net-leased healthcare facilities. MPT's financing model helps facilitate acquisitions and recapitalizations and allows operators of hospitals and other healthcare facilities to unlock the value of their real estate assets to fund facility improvements, technology upgrades and other investments in operations. Facilities include acute care hospitals, inpatient rehabilitation hospitals, long-term acute care hospitals, and other medical and surgical facilities.
Baloise Group is more than just a traditional insurance company. The changing security, safety and service needs of society in the digital age lie at the heart of its business activities. The 7,200 or so employees of Baloise therefore focus on the wishes of their customers. The best possible customer service, combined with innovative products and services, makes Baloise the first choice for people who want to feel 'simply safe'. Located at the heart of Europe, with its head office in Basel, the Baloise Group is a provider of prevention, pension, assistance and insurance solutions. Its core markets are Switzerland, Germany, Belgium and Luxembourg. In Switzerland, with Baloise Bank SoBa, the Group also operates as a specialised financial services provider, offering a combination of insurance and banking services. The Group offers innovative pension products to retail customers throughout Europe from its competence centre in Luxembourg. Bâloise Holding Ltd shares are listed in the main segment of the SIX Swiss Exchange.