Orpea, Europe's second largest nursing home group by revenue, has agreed to buy Irish group FirstCare in a purchase reportedly worth more than €100 million. Orpea will become the largest private care home operator in Ireland by bed number.
The French nursing home sector has produced some of the largest consolidators in Europe, such as Orpea and Korian. But even small groups are looking at international expansion. Almage, a group with just six homes and 530 beds dedicated to Alzheimer care, plans to hit Spain in the next few months and is looking at other European markets. Marc Saillon, the CEO of Almage Alzheimer Centers, also tells us that the group has expanded into consultancy in China.
Orpea, the pan-European care home operator, has continued its drive to become the number one player in the Irish nursing home sector. Local operator Virtue, which is majority-owned by French operator Emera, is also expanding its market share.
Few investors have been as active in healthcare services as Nordic Capital. Or as ambitious in building pan-European platforms in outpatient sectors such as dentistry, veterinary and ophthalmology. Raj Shah is also looking for new deals - Nordic has just raised a massive €6.1bn for its tenth fund of which 30-40% is destined for healthcare.
DomusVi, Europe’s third-largest nursing home group by revenue, has no interest in investing in Portugal’s nascent assisted living sector according to country CEO João Pedro Guimarães. HBI speaks to him to find out why.
Ireland is a relatively small market, with a population of just five million, and aging demographics behind most of continental Europe. Despite this, it is attracting the interest of large nursing home groups and property funds. HBI talks to two market experts about the appeal of the Irish nursing home sector and how it will develop in the future.
Pan-European imaging and outpatient operator Affidea has entered the UK market with the acquisition of Fortius Clinic, a group of musculoskeletal (MSK) and orthopaedics centres in central London, and an outpatient centre in Northern Ireland.