Nursing Homes

 

Is Orpea’s bold plan enough to save the business?

Plagued with well documented allegations and investigations, and saddled with €9bn+ debt, on Tuesday Orpea presented its plan for recovery to the creditors who last month gave it just four months to clean up its finances. Has it done enough? We speak to a range of market experts to find out if it can weather the storm. 

Orpea forced to take drastic steps to fix finances

Orpea has four months to clean up its finances and reach a new agreement with its creditors on debt restructuring. The conciliation period which it has agreed with the courts has bought it time to consider its options in the face of rising costs and interest rates, and a cooling real estate market. The main proposal under discussion is a debt/equity swap which would result in a drastic dilution of existing shares, but it is hard to see how the numbers could add up. HBI hears from analysts about the tough decisions facing the group.

Buurtzorg expands into nursing homes

Netherlands-based medicalised homecare specialist Buurtzorg is expanding into nursing homes. HBI catches up with a Dutch healthcare expert to find out more.

Attendo Stockholm contract will not be extended after court convictions

Pan-Nordic listed care provider Attendo has lost one of its contracts with the City of Stockholm to provide nursing home care. This follows the conviction of two Attendo employees earlier this week for violating whistleblower protection law when they reprimanded a carer employee for speaking to the press about the state of care in one of its homes during the height of the first Covid wave in 2020.

More funding for health and care but less for labs in French Social Security budget

The French government is to increase allocated funding for the health and care sectors overall in 2023, including hiring an additional 3,000 carers and investing €370m into a shift to care at home, but decrease funding for labs by €250m, as detailed in the 2023 Social Security budget, published on Monday September 26.

Orpea CEO blames “unethical” former managers following €269m H1 loss

Laurent Guillot, CEO of French multinational elderly care group Orpea, has partially blamed the company's net loss of €269m in the first half of 2022 on "unethical behaviour" by the company’s former managers. But the company's finances appear to be in better shape than the headline figure suggests.

Interview: Julien Samson, CEO, Groupe Maisons de Famille

Julien Samson, recently appointed CEO of the European care homes group Groupe Maisons de Famille, has some creative ideas on how to manage the business. In the face of industry-wide criticism and concern following hard-hitting headlines about rivals Orpea and Korian, he still believes the industry can find ways to cope with the persistent pandemic, the energy crisis and inflationary recession.

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