Maisons de Retraite has bought Planiger in Madrid. We look at the acquisition and Maisons de Retraite’s strategy.
One of the world’s top 20 investors, with nearly C$200bn under management, has invested €321m for a 15% stake in French nursing home group Orpea, bought from company founder Jean-Claude Marian. The Canada Pension Plan Investment Board (CPPIB) says that it has bought into Orpea on the strength of its international expansion plans. The CPPIB also underwrote and bought 30% of a share issue to finance new growth. We look at CPPIB’s strategy, the state of play in the nursing home sector, and talk to Scott Lawrence, Vice President & Head of Relationship Investments at CPPIB.
December 18, 2013
DomusVI, the second-largest French nursing home chain, is to be sold in early 2014, say reliable sources. We take a look at the potential deal.
October 25, 2013
In many healthcare service sectors, the big international consolidators hold a 20-50% share of the market. Hospitals have long been the exception, with international players holding well below 1% marketshare. Yet the recent success of IHH, Ramsay Health Care, Netcare and Mediclinic shows that investors are banking on international consolidation working in the private hospital sector as well. Are they right?
September 27, 2013
French care home and rehabilitation group Korian has found a buyer in LFPI-backed Inicea for its psychiatric division. The sale will help to fund its German nursing home foray with Curanum. We take a look at the EBITDA multiple paid, Inicea’s plans and the psychiatry sector in France.
April 9, 2013
Belgian newspapers say that French nursing home group Orpea is close to buying one of the top three nursing home groups in Belgium.
January 14, 2013
Across Europe, a nascent private sector is expanding into psychiatric care provision for the continent’s public payors. But with all major markets still stuck in the economic doldrums, are they fighting for a shrinking slice of the pie? Healthcare Europa takes a look at select markets to see how far private operators are making inroads into mental healthcare.
October 2, 2012
More rock-solid half-year results from the big three French nursing homes, which have successfully moved into Italy, Spain, Belgum and Germany. But why are Korian's shares down 12% over the year? Why is Medica down 2%? Why is Orpea ahead only 9% despite 15% sales growth in the first half, when the French CAC index is up 11%?
September 28, 2012
We interview Dr Jean-Claude Marian, chairman of listed nursing home, psychiatric and rehabilitation group Orpea. The company has just announced 2011 sales of €1.234bn, €4m ahead of target and expects to achieve at least €1.425bn in 2012. Sales grew 28% in 2011 (89% from France) with organic growth of over 8%. It expects to add at least 2,000 more beds in 2012....
February 20, 2012
Third quarter figures show Orpea, Medica and Korian have again delivered. But EBITDA multiples have dropped away. Orpea, which once was on 25 times forward EBITDA, is now on just 11x 2011 forecasts....
November 11, 2011
Two private equity-owned nursing home groups, Casa Reha in Germany, and Carema in Sweden, have seen their reputations trashed by the media in the past month. That follows exposes of treatment at UK care group Castlebeck and of standards at the largest British private nursing home group, Southern Cross....
November 3, 2011
The big French senior care groups are steaming ahead like well-oiled trains, says Cedric Moreau, analyst at European Investment bank Bryan Garnier. Orpea and Medica, two of the big four French senior care groups (along with Korian and DVD) have just announced sales figures for the first half of 2011. But what of the future?...