The transaction will be executed through a joint holding company, with both STRABAG and PORR holding an equal 50% stake. 

The seller of these holdings is VAMED, a global provider for hospitals and other facilities in the healthcare sector, which is majority-owned by Fresenius of Germany. 

This acquisition involves the technical operations management and construction projects divisions of Vienna General Hospital, along with VAMED's Austrian project development business and its Austrian spa holdings.  

The move is set to broaden STRABAG's service offerings in technical facility management to encompass the medical sector and bolster its project development expertise within the healthcare industry. 

The agreement is currently pending approval from STRABAG's supervisory board.  

A comprehensive solution covering the design, build, and operation phases, from a unified source, is noted to be an appealing option for clients, offering planning and budget certainty, stated STRABAG. 

STRABAG CEO Klemens Haselsteiner said: “This acquisition allows us to pursue two key topics of our Strategy 2030: further increasing our depth of value creation in this segment and expanding our expertise in technical facility management, specifically in the demanding medical sector.” 

This deal does not include VAMED's project development business outside of Austria, its hospital services business, or its post-acute business. 

It also does not involve the company's rehabilitation sector segment which was recently sold to PAI Partners. 

The latest transaction comes after STRABAG acquired Naporo Klima Dämmstoff from Synthesa Group last month.