HEUKING advises Lichtenfels district on insolvency proceedings at Regiomed group and on sale of Regiomed Klinikum Lichtenfels to Sana Kliniken AG
A HEUKING team led by Munich-based Partner Boris Dürr, Senior Counsel Dr. Klaus-Georg Baier, and Salaried Partner Dr. Kai Uwe Büchler legally advised the district of Lichtenfels comprehensively throughout the insolvency proceedings of Regiomed group. HEUKING initially advised the district during pre-insolvency negotiations regarding the split-up of Regiomed group among its previous shareholders. During the insolvency proceedings, the team addressed complex insolvency law issues, explored alternative solutions for the rescue of Klinikum Lichtenfels, and ultimately facilitated negotiations for the clinic’s successful acquisition by Sana Kliniken AG.
Regiomed group was established in early 2008 as a regional healthcare association, uniting municipal healthcare facilities from the districts of Lichtenfels (Bavaria), Coburg (Bavaria), Hildburghausen (Thuringia), and Sonneberg (Thuringia), as well as the towns of Coburg (Bavaria) and Schleusingen (Thuringia). As Germany’s only cross-state municipal hospital association, Regiomed group provided comprehensive medical services to over 300,000 patients annually. The group operated six acute care hospitals, medical care centers across seventeen sites, several residential homes, a rehabilitation clinic, a medical school, and an ambulance service with multiple locations. By 2023, Regiomed group employed over 5,000 people and generated total revenue of EUR 425 million. However, negotiations to split the group among its shareholders failed to yield a successful resolution. Consequently, at the start of 2024, several Regiomed group companies filed for insolvency proceedings under self-administration.
As part of the recently concluded insolvency proceedings, the hospital association has been restructured and split. The facilities in Hildburghausen and Sonneberg were returned to municipal ownership, while the three Upper Franconian sites in Lichtenfels, Coburg, and Neustadt bei Coburg were acquired by Sana, one of Germany’s largest hospital groups. Regarding Klinikum Lichtenfels, the district of Lichtenfels and Sana Kliniken AG entered into a long-term partnership, with the district retaining a 10.1 percent stake in the newly established Sana Klinikum Lichtenfels.
Sana Kliniken AG is a leading private healthcare provider in Germany, operating 43 hospitals, 51 medical care centers with nearly 600 medical practices, and around 60 medical supply and prevention centers nationwide. In fiscal 2023, Sana generated revenue of EUR 3.3 billion with a workforce of approximately 38,600 employees.
Counsel to Lichtenfels district
HEUKING:
Boris Dürr (Lead, M&A), Munich,
Prof. Dr. Georg Streit (Restructuring & Insolvency), Munich,
Dr. Klaus-Georg Baier (Lead negotiator, Health Care), Munich,
Dr. Kai Uwe Büchler (Lead counsel in insolvency proceedings), Munich,
Michael Auer (Real Estate & Tenancy), Munich,
Steffen Wilberg (Real Estate & Construction), Munich,
Fabian Gerstner, LL.M. (Public Sector & Public Procurement, Real Estate & Construction), Munich,
Dr. Wolfgang G. Renner, LL.M. (Public Sector & Public Procurement, Real Estate & Construction), Munich,
Dr. Oliver Treptow (Health Care & M&A), Munich,
Astrid Wellhöner, LL.M. Eur. (Employment), Munich,
Dr. Arietta von Stechow (Employment), Hamburg,
Felix Noack (M&A), Munich,
Hannah Viktoria Kapfenberger (Employment), Munich
