Orpea, the big quoted French nursing home group with operations in Belgium, Spain and Italy, has pipped local contenders to buy Senevita, one of the top three Swiss nursing home chains from Austrian operator Senecura. The acquisition takes Orpea into a fast-growing, but low margin sector. We look at the Swiss market, give you the price and multiple on the deal, talk to Orpea about its plans and examine what Senecura plans to do with the money.