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09.12.2005 – 08:44


euro adhoc: Curanum AG
Mergers - Acquisitions - Takeovers
CURANUM acquires seven facilities in North-Rhine Westphalia and plans to open up a new facility in Lower Saxony

--------------------------------------------------------------------------------   Disclosure announcement transmitted by euro adhoc.   The issuer is responsible for the content of this announcement. --------------------------------------------------------------------------------


CURANUM AG, Munich, will be taking over the operation of seven care facilities of the Dr. Lohbeck-Gruppe in Schwelm. The locations comprise a total of 890 care places and are currently generating sales of EUR 22.0 million, at an EBITDA margin of 6.5%.

The establishments are located in Schwelm, Ennepetal, Wuppertal, Hagen and Iserlohn in North-Rhine Westphalia and are situated in the direct vicinity of existing CURANUM AG facilities. High synergy effects by the bundling of secondary services and flexible personnel deployment will bolster the earnings power of the new and the existing establishments. Additional margin enhancing factors are lower costs of materials thanks to the central CURANUM purchasing organization, and an increase in capacity utilization.

As of January 1, 2006, CURANUM will be leasing the seven facilities at an annual lease payment of EUR 7.5 million for a period of 15 years (+ 2 x 5 years option). The company will make an advance lease payment of EUR 10.0 million, which will be set off against the lease payments during the contractual period.

With a look to the next year, CURANUM AG is planning to increase the sales revenues of the new facilities to EUR 23.3 million, and generate EBITDA of around EUR 2.0 million.

In Bad Lauterberg, Lower Saxony, CURANUM AG will open up a new facility with 131 care places and 18 sheltered living apartments in autumn of 2006. High synergy effects by the bundling of secondary services with existing CURANUM facilities in Lower Saxony are also expected in this new facility.

Munich, December 9, 2005

The Management Board

end of announcement                                                 euro adhoc 09.12.2005 08:08:40

ots Originaltext: Curanum AG
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Further inquiry note:
Bernd Rothe
Tel.: +49 (0)89 242065-60

Branche: Healthcare Providers
ISIN:      DE0005240709
WKN:        524070
Index:    CDAX, Classic All Share, Prime All Share
Börsen:  Frankfurter Wertpapierbörse / regulated dealing/prime
              Bayerische Börse / regulated dealing
              Berliner Wertpapierbörse / free trade
              Hamburger Wertpapierbörse / free trade
              Baden-Württembergische Wertpapierbörse / free trade
              Börse Düsseldorf / free trade
              Bremer Wertpapierbörse (BWB) / free trade

Original content of: Korian, transmitted by news aktuell