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Carlyle invests in German clinic chain Schoen

Reuters - UK Focus

FRANKFURT, June 29 (Reuters) - Buyout group Carlyle has bought a minority stake in German clinic chain Schoen to help the family-owned company expand in its home market as well as abroad, Schoen said on Wednesday.

Neither the size of the Carlyle's stake nor the purchase price were being disclosed, a Schoen spokesman said.

Carlyle declined to comment.

People familiar with the deal had said Schoen - which also attracted final offers from CVC (Taiwan OTC: 4744.TWO - news) , EQT and a private investor - would likely be valued at about 1.5 billion euros.

Germany's healthcare services market, under pressure from tightening government healthcare budgets, has seen a wave of consolidation in recent years.

Investment banking boutique Altium (Frankfurt: A5V.F - news) acted as sellside advisor. (Reporting by Arno Schuetze; editing by David Clarke)