HBI catches up with Christie & Co, the business broker in charge of the sale of UK-based Four Seasons’ 110 care home, to find out more about the timescale of and interest in the sale.
French multinational elderly care group Orpea’s share price fell further on Wednesday, September 14, to its lowest level in years following new accusations of resident mistreatment, this time in Austria, and the company released disappointing H1 results.
France’s largest elderly care group Korian is suing one of its carer employees for ‘public insult’, after the employee wore a t-shirt with a distorted version of the Korian logo at a protest.
French multinational care group Orpea has agreed to pay back €25.7m of the €55.8m which the French government says it is owed. The company has also decided to sell €2bn of property. Its shares continue to bounce around €20-25, down from over €100 pre-scandal.
For many years investors have piled into German nursing homes attracted by the long-term care insurance payment model which guarantees future budgets. But the current wave of inflation may swamp many operators.
Bupa appears to be selling off its New Zealand nursing home arm. What does this mean for the rest of its huge health care services portfolio – which generated revenue of £3.74bn in 2021 – and of its long-term strategy?
French elderly care and assisted living specialist Domitys is set to offer residents the promise of exotic holidays abroad, jumping onto a bandwagon already embraced by the likes of rival Korian.
Potential buyers of Four Seasons Health Care Group’s (FSHC) 110 homes must place their bids before the end of September, insists Christie & Co, the business broker in charge of the sale.
Orpea is selling 32 of its nursing homes in The Netherlands to Syntrus Achmea Real Estate & Finance (a REIT) for approximately €125m, as part of the asset disposal part of its plan to clean up its finances. The company, which is also trying to clean up its reputation in light of accusations of malpractice, has agreed to pay back €55.8m to the French government after public investigations following the suggestion it misappropriated public funds.
