Advent Said to Sell Median Kliniken for $1 Billion

Advent International Corp. agreed to sell German rehabilitation clinic group Median Kliniken GmbH & Co. to Waterland Private Equity Investments BV for more than 800 million euros ($1 billion), people with knowledge of the matter said.

An announcement of the sale could be made as early as this month, said the people, who asked not to be identified because they aren’t authorized to speak publicly.

Median, which Advent acquired with real-estate investor Marcol in 2009 and put up for sale earlier this year, now operates more than 40 clinics compared with 27 at the time of purchase, according to the Berlin-based company’s website.

The clinics offer a range of rehabilitation services for patients including aftercare for neurological and orthopedic surgery, heart attacks and strokes.

Spokesmen for Advent and Waterland declined to comment. Representatives for Marcol and Median didn’t immediately respond to requests seeking comment.

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