Creditors Unanimously Approve Insolvency Plans for Friedrichshafen and Tettnang Healthcare Centres

PLUTA Rechtsanwalts GmbH acted as insolvency administrator for the estates of Medizinisches Versorgungszentrum GmbH (Friedrichshafen Hospital) and MVZ Tettnang GmbH; WMCF GmbH provided M&A advisory support to the sales process. Creditors unanimously approved the insolvency plans for both healthcare centres at the meeting held last Friday, clearing the decisive final hurdle in the respective insolvency proceedings. The proceedings are scheduled to be terminated at the end of the year, and the centres are set to make a fresh start at the beginning of 2026. Under the approved insolvency-plan solutions, Oberschwabenklinik gGmbH will become the new owner of both centres and will take over their ongoing operations from 1 January 2026. The centres will continue to operate from their current premises and will retain their various statutory health insurance contracts. The PLUTA team prepared the insolvency plans that embody the agreed solution, and creditors approved these plans unanimously in both discussion and voting meetings. The planned restructuring preserves both companies as legal entities, a necessary measure because the statutory health insurance contracts are tied to each legal entity. The insolvency administrator expects recovery rates materially above usual averages: at least 50% in the proceedings for Medizinisches Versorgungszentrum GmbH at Friedrichshafen Hospital and at least 80% in the proceedings for MVZ Tettnang GmbH. By way of comparison, typical insolvency recovery rates commonly fall in the mid-single-digit range. Operations were maintained throughout the process. On 28 May 2025 the Local Court of Ravensburg ordered provisional insolvency administration for the assets of both companies and appointed Mr Steffen Beck of PLUTA as provisional administrator. Regular insolvency proceedings were opened on 1 August 2025. Only the Friedrichshafen and Tettnang healthcare centres were included in these proceedings; the associated hospitals are not affected. Mr Steffen Beck and attorney Mr Florian Schiller will continue to run the centres until the end of 2025, during which time medical services have been ensured. PLUTA’s restructuring experts conducted a structured investor search in parallel, culminating in the framework agreement with Oberschwabenklinik gGmbH concluded in October 2025. Responsibility for operations will pass to Oberschwabenklinik gGmbH at the turn of the year. PLUTA Rechtsanwalts GmbH represented the insolvency estates of Medizinisches Versorgungszentrum GmbH (Friedrichshafen Hospital) and MVZ Tettnang GmbH with a team composed by: Steffen Beck (PLUTA partner and insolvency administrator), Florian Martin Schiller (attorney, operational administration), Dr. Karl-Friedrich Gulbins (attorney, contractual matters), Markus Fünning (attorney), Susanna A. Schmollinger (attorney, contractual matters) and Nikolaus Röver (responsible for M&A implementation). WMCF GmbH assisted the insolvency administrator and the sales process as M&A advisors with a team composed by: Gerrit Haug and Levin Kunkel (M&A advisory and transaction support).

Creditors Unanimously Approve Insolvency Plans for Friedrichshafen and Tettnang Healthcare Centres

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