Asklepios, a hospital chain operator, completed the acquisition of a 20% stake in Rhoen Klinikum, a German cooperation of hospitals and clinics, from the founder Eugen Muench for $1.3bn. Asklepios, which already holds 28.7% of Rhoen’s shares, said it would initially buy a 12.4% stake from Rhoen founder Eugen Muench. The two would then pool Muench’s remaining stake of 7.6% in Rhoen with shares held by Asklepios. As a result, their joint investment company would hold at least 49% in Rhoen. “The takeover of RHÖN shares and the joint venture with Eugen Münch will strengthen the competitive position of the group with Asklepios/ RHÖN over the long term. The step is soundly financed. Together, we have the stable lineup it takes to meet increasingly stringent regulatory requirements while having the resources to invest in essential medical advances,” Hafid Rifi, Asklepios CFO.