[Cologne, ] GÖRG put together the legal team headed by Dr. Oliver von Rosenberg LL.M. that advised the sellers of Radiologische Gemeinschaftspraxis Herne GbR and RANOVA Überörtliche Gemeinschaftspraxis für Radiologie und Nuklearmedizin GbR to the DBAG Fund VII, which was represented by Deutsche Beteiligungs AG (DBAG).
The two radiology practices (www.radiologieherne.de, www.ranova.de) together maintain 15 locations in various different cities in the Ruhr Area that are staffed by a total of 87 physicians. The two practices reported combined revenues totalling € 54 million last year. The DBAG Fund VII advised by DBAG will acquire majority interests in Radiologische Gemeinschaftspraxis Herne GbR and RANOVA Überörtliche Gemeinschaftspraxis für Radiologie und Nuklearmedizin GbR and then bundle its holdings in a single entity. This will mark the first acquisition by the DBAG Fund VII, which was closed with a volume of € 1,010 million in September 2016. The 18 former shareholders of the radiology practices will then hold an interest of some 44 percent in the new entity. Subject to the approval of the competition authorities and other institutions, the purchase agreement is expected to enter into force and effect in mid-year.
Dr. Oliver von Rosenberg described the transaction as follows: “The special challenge involved in the transaction was to structure and steer the competitive tender process in compliance with the legal requirements in effect in a heavily regulated sector. The members of the GÖRG team acted as M&A and strategy advisors in this context. The fact that the previous shareholders acquired a significant interest in the new entity added a further level of complexity to the transaction. GÖRG can therefore now be considered a pioneer in the growing market for major M&A transactions in the health-care sector.”
The GÖRG team that closed the transaction included Dr. Oliver von Rosenberg, Dr. Andrea Zimmermann, Ursula Lier, Dr. Andreas Groten (all Corporate Law/M&A), Dr. Marcus Richter (Labour Law) and Dr. Christian Bürger (Cartel Law, all based in Cologne).
This is the first major transaction handled by the prominent M&A partner von Rosenberg, who has been with GÖRG only since November 2016, when he joined us from Freshfields Bruckhaus Deringer.
GÖRG’s M&A practice will be reinforced and expanded when Freshfields partner Dr. Adalbert Rödding, an acknowledged expert when in the structuring and financing of domestic and international M&A transactions, restructuring and private equity, joins us on 1 May 2017.