Project Information
Project name: GERMANY: University Hospital Schleswig-Holstein PPP
Project description:

BAM PPP PGGM Infrastructure Coöperatie and its consortium partners VAMED and DIF have reached financial close on the University Hospital Schleswig-Holstein (UKSH) public-private partnership project in Germany.

BAM (50%) and VAMED (50%) are responsible for the planning, new construction and renovation of one of Europe’s largest centres for medical care at its locations in Kiel and Luebeck in Germany.

  The total costs for construction and renovation amount to €520 million. 75% of the project finance debt will be provided by UKSH as milestone payments, the consortium partners and commercial funders will provide the remaining 25% of the debt as equity and long term funding.

€350 million term loan will be provided by EIB, DZ Bank, KfW, LBBW, SEB and SMBC.


Construction will commence early 2015 and reach completion in 2021. The operational phase will include hard facilities management and technical management services and will run until 2044.


The consortium consisting of Dutch developer BAM PPP and Austrian healthcare developer VAMED was named preferred bidder in July 2014 for the 52m project, beating a Hochtief-Vinci team.

The 25-year concession involves the rehabilitation and extension of the 49 clinics and about 2400 beds on two sites of the University Hospital Schleswig-Holstein in Kiel and Lubeck.


Related headlines:

30 September 2014 - German hospital signs 

18 September 2014 - FC for German hospital PPP imminent
18/06/2013 - EIB to boost German hospital
01/03/2013 - Delays for German hospital PPP
27/11/2012 - German hospital qualifies two 
10/05/2012 - German hospital PPP comes to market

Type: PPP
Sector: Health
Region: Northern & Western Europe
Current status: Project Signed - 30/09/2014
Contract Terms
Duration: 25 years
Capital value: €520.00m
Public Sector Procuror Details
Authority/Commssioning body: Universitätsklinikum Schleswig-Holstein
Public sector contact: Bünyamin Saatci
Tel: +49 (0)451500-2617
Public sector advisors: White & Case - Legal Advisors
Private Sector Details
Consortium name: Bam PPP/VAMED
Private sector shareholders: BAM PPP - Shareholders
PGGM - Shareholders
DIF - Shareholders
Vamed - Shareholders
Private sector advisors: PwC - Financial Advisors
Operis - Other Advisor
Private sector debt-providers: Sumitomo Mitsui Banking Corporation - Shareholders
KFW - Debt Providers
European Investment Bank - Debt Providers
DZ Bank - Debt Providers
SEB - Debt Providers
LBBW - Debt Providers
Private Sector Shortlist
Consortium name: VINCI/Hochtief
Private sector shareholders: Vinci Concessions - Shareholders
Hochtief - Shareholders

This page was last updated on:
24 November 2014.


The siren call of ‘bring-backery’

There is a pernicious and increasing trend towards a belief that things were ‘better in the past’. This must be combatted if real progress can be achieved


‘A Great Journey’

Phillip Hall, MUFG’s head of structured finance for EMEA, tells Paul Jarvis how the bank is evolving to thrive in the changing PPP world


Register now to get un-restricted access to all sections of the website.

Want to see more first? Try our free preview...