That was close: Rhön-Klinikum AG and the state of Hesse agreed on the key data of the new contract for the future for the privatized university hospital in Giessen and Marburg just in time.

If the agreement that was in effect at the end of the year had remained without a follow-up contract, the majority shareholder Rhön AG would not only have been able to outsource parts of its central Hessian subsidiary, known as UKGM for short.

He could also have deducted profits made by the clinic and dismissed staff for operational reasons.

All of this is now prohibited for the group.

In this respect, both shareholders take a lot of pressure off the workforce.

For the time being, they also correct the impression that the UKGM has become a place of insecurity.

The total of the investments in medical technology and construction projects that have now been agreed far exceeds the financial framework foreseeable in the spring.

At the time, the state promised 490 million euros in the declaration of intent for the next ten years, and Rhön AG had also pledged funds for its part.

But now there is talk of 800 million euros – with the addition “at least”.

In contrast to spring, a possible adjustment to inflation is now one of the key data.

The same applies to Rhön's own funds if the funds from the UKGM budget are not sufficient for investments.

In this respect, the negotiations have actually brought something new and concessions on both sides.

As befits a compromise.

However, question marks remain: in the past, the group's own funds always flowed to UKGM as loans from Rhön AG.

They burden the budget of the university clinic with almost 40 million euros in interest and repayments.

The idea of ​​placing a corporate bond or something similar on the capital market and passing the money on to UKGM has apparently not yet come to the majority owner.

In this respect, a certain degree of uncertainty remains with regard to own investments.

And then there is one of the main points of contention in the negotiations: Is the country obliged to support the privatized clinic with investments on a permanent basis?

Rhön AG had requested this with reference to the practice in hospital financing in Germany.

According to this, the public sector pays for construction projects and medical technology.

And this is independent of the sponsorship of a hospital.

The country has denied this obligation to the end.

There is no clarifying word on this in the joint statement by the state and Rhön AG.

It remains to be seen whether both sides have settled the dispute.

A blank remains.

But one thing must be clear right now: there must be no such back and forth during the next negotiation of a final agreement.