Shares in listed European care groups Korian and Orpea dropped slightly on publication of their FY2020 results – but despite a difficult year there are reasons for both companies to be hopeful of better times ahead.
Legislation in France is set to hike minimum homecare carer wages by 20% in the not-for-profit sector, with financial support from the government to do this. HBI hears low margin for-profit operators fear they will struggle to match this and retain staff.
The for-profit assisted living sector is expanding rapidly in the UK, but unlike on the continent, the majority of this expansion will be through property sales rather than rentals. HBI speaks to Michael Voges, from the Associated Retirement Community Operators (ARCO), to find out more about why this approach differs from mainland Europe.
HBI analysis of COVID-19 testing volumes and pricing reveals how vaccine programmes and the rise of antigen tests might impact future growth for the lab groups. PCR volumes and have dropped 16% in the UK since it started vaccinating its population and one lab group is expecting a 35% to 50% drop in COVID revenue this year.
Care workers in France are quitting domiciliary care in droves, and heading into the more lucrative nursing homes sector, Amir Reza, CEO of France-based domiciliary specialist Vitalliance tells HBI.
The number of assisted living sites in France is expected to more than double between now and 2030, according to Les Essentielles, an assisted living-focused subsidiary of Korian. HBI speaks to their executive director, Arnaud Choulet, and to Frédéric Walther, Managing Director of Domitys, to find out more.
Cofinimmo has acquired five new healthcare sites in Normandy for approximately €44m further extending its French portfolio. The Belgian-based real estate company's new assets comprise four nursing and care homes, one of which is currently under construction, and one assisted-living facility.
Encroaching protectionism from governments across Europe is leading to some initiatives that might limit foreign investment in key strategic services like healthcare. Sharon Lamb, a partner with law firm MWE, talks to HBI about those new laws and a host of others introduced over the last year. It’s a complex regulatory and reimbursement landscape but MWE has a new report to help.
Spain-listed diagnostics and radiotherapy group Atrys Health's CFO talks HBI through the strategic rationale of its spate of recent acquisitions including a €550m merger with another listed group, after we questioned the diversity of deal-making it is pursuing. He says it is looking at acquiring radiotherapy centres in Europe outside Iberia.
The COVID-19 pandemic has uniquely warped revenue for the big lab groups. Difficulty forecasting means Apax is in “no rush” to explore an exit while Cerba Healthcare may join Synlab in an IPO process, HBI can reveal. Synlab is reportedly on an IPO roadshow this week and Biogroup’s recent record-breaking raise on the bond market shows there’s an investor appetite.
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