Waterland acquires German clinic operator MEDIAN Kliniken

Dusseldorf, October 16, 2014 – Waterland Private Equity (Waterland) today
announced that it has acquired a majority stake in MEDIAN Kliniken, the German
clinic operator of hospitals and rehabilitation facilities with more than 9,000 beds
based in Berlin. Under the terms of its agreement, Waterland Fund V will acquire the
majority of MEDIAN. MEDIAN is being sold by Advent International, one of the
leading global investors dedicated to private equity, and the pan-European investor
Marcol. Both investors sell their stakes completely. No other financial terms were
disclosed. The transaction is subject to approval by the German Bundeskartellamt.

Rob Thielen, Chairman of Waterland, said: “MEDIAN Kliniken fits into our investment
focus, and our strategy to consider the benefits stemming from the aging population and
the megatrends associated with its demographics. In the health sector, we therefore see
significant growth opportunities. With MEDIAN we have created a second foothold in the
German hospital market.” In 2011 Waterland already bought via Fund IV RHM Kliniken,
Deidesheim. So the investor already has deep industry experience.

Waterland will implement its typical buy and build approach for MEDIAN. “We see
MEDIAN as a very attractive platform with a strong position in different indications like
neurology, with a particularly attractive private patient offering PREMIUM. Our goal is to
accelerate additional growth at MEDIAN Kliniken by stepping up their PREMIUM concept,”
says Dr. Carsten Rahlfs, Principal of Waterland and head of the Düsseldorf office. “In
addition, we believe we can grow significantly through acquisitions in the acute-care sector
and we have already identified several attractive clinic operators as potential additions,”
underlines Jörg Dreisow, Managing Principal of Waterland and responsible for DACH
region, Waterland´s buy and build approach.

The property of MEDIAN Kliniken will be sold to a US-real estate investor in the coming
months as part of a sale-and-lease-back agreement.

MEDIAN Kliniken Group, one of the largest operators of post-acute and acute hospitals in
Germany, has approximately 7,500 employees. “We have improved our position considerably during the last five years. This is the result of the hard work from all of our
staff and the support we got from our previous owners. We are excited about the growth
strategy that has been outlined for our clinics and we look forward to working with
Waterland,” commented Hartmut Hain, CEO of MEDIAN, the step.

MEDIAN Kliniken focuses primarily in the areas of neurology, orthopaedics and
psychosomatics. The company operates more than 9,000 beds in 45 facilities throughout
Germany. The hospital group has pursued an organic and external growth strategy and
recently acquired Atos Kliniken located in Munich and Heidelberg.