Corona pandemic: Closures until 24 April 2020

| Corporate News

Corona pandemic: M1 Group extends clinic and practice closures until 24 April 2020

Following the federal and state governments announcement to continue the ban on contact to at least 19/20 April 2020, M1 Kliniken AG has decided to keep its own clinics and practices closed until 24 April 2020. Internally, however, plans for the reopening have already begun. M1 expects a road map from the German government shortly on how public life can be gradually resumed and thus make beauty treatments feasible again.

Due the very robust structure of M1’s business model, important cost items are being reduced in correlation with the closures. In addition, M1 is taking advantage of government programs of short-time work and is negotiating with suppliers to reduce costs. Based on its strong cash position, M1 is thus well equipped to overcome the closure period without long-term adverse effects. The management assumes that following the reopening of the clinic and practice operations, the pre-existing capacity levels can be achieved in the foreseeable future.

Concurrently, cooperations with local health authorities and other bodies are taking shape. For example, M1 is providing a support team for the Treptow-Köpenick health authority, which is being deployed for mass testing of potentially affected persons, e.g. in nursing and old people’s homes. There has been a high level of interest among the M1 workforce to participate in this initiative to support public efforts to cope with the pandemic. Other extensive forms of such cooperation are currently in a planning phase or final coordination.

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