Baloise has acquired a strategic 20% stake in Infracore SA, a real estate company dedicated to the Swiss healthcare market. AEVIS VICTORIA sold this 20% stake for CHF86.5m ($87.3m) and will, at this stage, continue to control the remaining 80% of the share capital. Infracore was valued at CHF852.5m ($860.7m )(including net debt) in the transaction. Baloise also provided Infracore with financing in the form of a 3-year CHF100m ($101m) bond with a coupon of 1.50%. The healthcare properties in Geneva of Générale-Beaulieu Immobilière SA and the hotel properties of Swiss Hospitality Properties SA are not part of the transaction with Baloise. Infracore SA (formerly Swiss Healthcare Properties SA) is a real estate company focused on Swiss healthcare real estate. Infracore owns the buildings of the hospitals of Swiss Medical Network since 2006 and was integrated into AEVIS VICTORIA in 2012. Baloise will be represented by Dieter Kräuchi on the Board of Directors of Infracore SA. Martin Gafner, Chairman of Infracore, said: "I am delighted that Baloise has acquired a stake in Infracore. This is a first step towards the independence of our company and its transformation into an important player in hospital financing in Switzerland."