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rehaneo, a leading provider of outpatient rehabilitation, aftercare, prevention, and occupational health management founded in 2020, welcomes Fremman Capital to its shareholder base. Fremman takes over the majority shareholding previously held by the European investment company Gimv. Founder and CEO Bruno Crone and co-founder and COO Christoph Dühr remain significantly invested in the company and continue their management roles.
Since its founding four years ago, during the peak of the COVID-19 pandemic, Gimv and the managing rehaneo shareholders Bruno Crone and Christoph Dühr have successfully built the company into one of the top three providers in the field of outpatient rehabilitation through a successful buy-and-build strategy. Since 2023, Dr. Alain Robbe-Grillet completes the management team as CFO.
To date, rehaneo has integrated 13 companies at 23 locations nationwide into the group, including some of the leading facilities in Germany. Recently, rehaneo also opened a completely new center in Göttingen.
The rehaneo group now employs over 1,000 staff who are dedicated to the care of more than 80,000 patients and customers annually. The range of services offered by the centers varies by location, from outpatient rehabilitation and rehab aftercare to physiotherapy and occupational therapy, as well as prevention and fitness. In addition to developing locations and the continuous growth of the group, the focus is primarily on the quality of services. This is ensured, among other things, by a medical board with renowned experts, including Prof. Dr. med. Thomas Wessinghage. rehaneo aims to further densify the care network and offer more people professional rehabilitation close to their homes.
Outpatient rehabilitation costs are significantly lower than inpatient stays, benefiting the healthcare system. Additionally, there is increasing demand from patients who want to stay in their familiar environment during rehabilitation. Together with Fremman, the management team intends to continue the successful growth strategy, accelerating M&A and consolidating further a very fragmented sector, to create a European leader.
The transaction is subject to approval by the German antitrust authorities and is expected to close in Q1 2025. This transaction will have a positive impact on our NAV at 30 September 2024, as will be published on 21 November next, of around EUR 1 per share. The realized return on this transaction substantially exceeds our long-term portfolio return target.