Fachklinik Waldeck: restructuring on the home straight
The reorganization of Fachklinik Waldeck in Schwaan near Rostock is virtually complete: At their meeting last Wednesday, the creditors unanimously approved the reorganization plan developed within the protective shield proceedings. The competent Rostock District Court has already confirmed the reorganization plan. Once the plan has become legally effective after the statutory deadline of two weeks at the beginning of October, the takeover of Fachklinik Waldeck by Recura Kliniken SE will also be finally completed.
“I am very pleased that together with Recura Kliniken SE we were able to achieve this excellent solution for the future of Fachklinik Waldeck,“ emphasized Burkhard Jung, who had taken over the management of the company for the duration of the restructuring process and shaped the new structure. “This solution has also convinced the creditors, at yesterday's creditors' meeting they gave their unanimous consent,“ added Jung, who is also co-founder and managing director of the renowned restructuring consultancy “Restrukturierungspartner“.
Recura Kliniken SE and FuturaMed-Gesellschaft für modernes Management im Gesundheitswesen GmbH had signed an investor agreement about a month ago with the aim of acquiring Fachklinik Waldeck. The parties had agreed not to disclose the details of the transaction.
When the restructuring plan becomes legally effective at the beginning of October, the protective shield or self-administration proceedings will also be lifted in a timely manner after a total duration of around five months. This is extraordinarily fast! In general, protective shield reorganizations take at least six to nine months. Attorney Dr. Christoph Morgen from the law firm Brinkmann & Partner, which specializes in corporate restructuring, acted as trustee for the protective shield proceedings. The sale process was managed by TERRANUS, a consulting firm specializing in social real estate.
During the past few months, the clinic management had already implemented a number of important measures to reposition the specialist clinic and overcome the aftermath of the Corona crisis. It has been possible to comprehensively stabilize and continue clinic operations without interruptions throughout the process. “This success is primarily thanks to the employees, who remained loyal and committed throughout the whole process,“ emphasized Dietmar Eine, hospital manager of the specialist clinic. “And even though I personally regret the loss of 25 jobs in the course of the restructuring process, the restructuring has on the other hand succeeded in particular in preserving around 230 jobs and prepared them for the future. That is a great success.“