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Swiss Prime Site selling healthcare services company Tertianum to Capvis

Swiss Prime Site AG agreed to sell its healthcare services platform Tertianum AG to the Capvis Equity V LP fund of private equity firm Capvis AG.

Financial terms of the transaction were not disclosed. Closing of the contract is expected to occur in the first half of 2020.

The acquisition comprises the operation of more than 80 residential and care centers as well as residences across Switzerland. Swiss Prime said the sale simplifies its structure and enables it to focus on its core real estate business. The company will reinvest the proceeds from the sale to its project pipeline.