BAWAG Group acquires Health AG and Zahnärztekasse AG
Vienna/Hamburg, 21 December, 2018 – Today, BAWAG Group announces the signing of a definite agreement to acquire Health AG and Zahnärztekasse AG from the EOS Group. Health AG, headquartered in Hamburg, Germany, and Zahnärztekasse AG, headquartered in Wädenswil, Switzerland, are two leading dental factoring market players offering dental financing products and services. The entities complement BAWAG Group’s business model by providing a bolt-on opportunity for retail and SME business growth in Germany as well as expansion into Switzerland.
Anas Abuzaakouk, CEO of BAWAG Group: "Today is another important step forward as we continue to execute on our strategy. We’ve signed our second German bolt-on acquisition in 2018 as well as paved the path to expand our footprint into Switzerland. The acquisitions of Health AG and Zahnärztekasse AG from EOS create an opportunity for BAWAG Group to enter the factoring space, a niche business segment, as well as drive new strategic partnerships. I’m excited to welcome our new colleagues into the team and look forward to working together. As we continue to execute on our strategy, we wanted to reiterate that BAWAG Group is on track to exceed all of our targets in 2018."
Klaus Engberding, CEO of the EOS Group: "With BAWAG Group we have found the best match to support Health AG and Zahnärztekasse AG during their next growth phases. I would like to thank the management and all employees for the great work they have done during the last years and wish both companies all the best for their future success."
The transaction is subject to customary closing conditions and regulatory approvals. The parties involved have agreed not to disclose the purchase price or any details of the agreement.
About Health AG
EOS Health Honorarmanagement AG is a provider of financial and IT services for the health market. With more than 2,000 customers it is one of the market leaders in German dental factoring. Since its establishment in 2005, the company has evolved from a factoring start-up to an independent company providing financial and technology services.
For more information please visit: www.healthag.de
About Zahnärztekasse AG
Zahnärztekasse AG is a financial services provider in the health sector and with 1,000 customers has become the market leader in the Swiss dental factoring segment. Its customised and modular based services, combined with an efficient IT infrastructure, relieves medical practice teams of administrative tasks and secures the liquidity of its clients. Since its foundation in 1963 the company has become established as a reliable partner to Swiss dentists.
For more information please visit: www.zakag.ch
About BAWAG Group
BAWAG Group AG is the listed holding company of BAWAG P.S.K., which is headquartered in Vienna, Austria, with the main banking subsidiaries easybank and start:bausparkasse in Austria as well as Südwestbank and Deutscher Ring Bausparkasse in Germany. With more than 2.5 million customers, BAWAG P.S.K. is one of Austria’s largest banks operating under a well-recognized national brand and applies a low-risk, efficient, simple, and transparent business model focused on Austria, Germany, and developed markets. The Bank serves retail, small business, and corporate customers offering comprehensive savings, payment, lending, leasing, investment, building society, and insurance products and services through various online and offline channels. Delivering simple, transparent, and best-in-class products and services that meet our customers’ needs is the consistent strategy across all business units.
For more information please visit: www.bawaggroup.com
About EOS Group
The EOS Group is one of the leading international providers of customized financial services. As a specialist in the evaluation and processing of receivables EOS deploys new technologies to offer its some 20,000 customers in 26 countries financial security through smart services. The company's core business is the purchase of unsecured and secured debt portfolios. Working within an international network of partner companies, the EOS Group has a workforce of around 7,500 and more than 60 subsidiaries, so it can access resources in more than 180 countries. Its key target sectors are banking, utilities, real estate and e-commerce.