BAD NEUSTADT AN DER SAALE (dpa-AFX) - German hospital operator Rhoen-Klinikum AG (RKKPF.PK) said that it has been informed that the Managing Director of the Marburg Ion Beam Therapy Center or MIT has filed an application for insolvency and self-administration of MIT with the Heidelberg Local Court.
Rhoen-Klinikum noted that the Local Court of Heidelberg has ordered the temporary self-administration of MIT. It regrets this surprising decision.
Due to the risk provisions already made in previous years, there will be no effects on the financial result or on the revenue and EBITDA targets of Rhoen-Klinikum AG.
Rhoen-Klinikum said it therefore continues to confirm previous forecast for the current 2018 financial year. Revenues in the amount of 1.24 billion euros in a range of 5 % upwards and 5 % downwards are expected. Burdening regulatory interventions by the legislator, such as lower remuneration for material cost-intensive services, especially in the area of cardiac medicine, or the fixed cost degression discount for additional services, must be taken into account.
Rhoen-Klinikum expects earnings before interest, taxes, depreciation and amortization (EBITDA) in 2018 to be significantly higher than in 2017 at between EUR 117.5 million and EUR 127.5 million - positively influenced, among other effects, by the agreement on the separation invoice at the UKGM.
Rhoen-Klinikum said,'Against the background of the different information that we had received from the Heidelberg management of MIT only weeks earlier, we as a minority shareholder are unable to understand the insolvency.'
Marburg Ion Beam Therapy Center (MIT) operating firm was founded in 2014 as a subsidiary of Heidelberg University Hospital (75.1 percent) and Rhoen-Klinikum (24.9 percent).
To date, 186 patients have been treated in the current year, of which 143 patients were assigned by the University Hospital Gie?en und Marburg GmbH and 40 patients by the majority shareholder Heidelberg University Hospital.
A further three patients were assigned via other clinics. Since June 2018, Heidelberg University Hospital has assigned three patients (approximately 4 percent) out of a total of 70 patients to MIT.
The management of MIT GmbH has justified its decision to file for insolvency with, among other things, the intensified competition due to the development of new and alternative therapy methods and the construction of significantly cheaper plants in Germany and abroad.
Copyright RTT News/dpa-AFX