French investor takes over Anton Proksch Institute: A controversial deal

French investor takes over Anton Proksch Institute: A controversial deal

In an important step, the Anton Proksch Institute in Liesing has a new majority owner: the French financial investor PAI will invest in the institute, which specializes in addiction help, via the affiliated company, which currently holds 40 percent of the shares. The announcement of this takeover has already caused an uproar, particularly from the trade unions and the SPÖ, which have vehemently protested against the deal.

The sale of 60 percent of the shares currently held by Vamed is taking place despite the strong criticism. The city of Vienna and the responsible union gave their consent, although many employees at the institute are worried and some are even considering changing their jobs. The head of the Vamed group works council, Harald Steer, said in the ORF “Mittagsjournal” that the workforce was shocked by the developments and the mood in the company was tense.

Critical voices about the deal

The resistance to PAI's entry into Vamed is loud. The Burgenland SPÖ club boss Roland Fürst, who sits on the foundation's board of trustees, described the deal as a "trail of blood" that major corporations are leaving through Europe as they buy up important care facilities. The unions fear that the pursuit of profit is being put above the needs of patients and employees. “Most employees are shocked,” said Steer, and the feeling of uncertainty has spread among employees.

As part of the restructuring, Vamed itself not only sold the shares in the rehabilitation clinic, but also changed the corporate structure. The rehabilitation clinic area was transferred to a new company in which PAI holds 70 percent and Fresenius 30 percent. As a result, several locations could not be sold easily because the public sector can claim pre-emption rights here.

Position of the foundation