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....
Tag Archives: Orpea
Boringly good figures from the big French care home groups
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
Casa Reha and Carema hit by media
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
French care homes look well set
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?...
August 9, 2011
Vitalia versus Medi-Partenaires
One big French hospital group, Vitalia has just raised around €615m through the debt markets, whilst another, Medi-Partenaires, has raised around €240m by selling seven hospitals to property group Icade. So who got the best deal? We look at the yields and what this tells us about the state of the French market....
July 8, 2011
Avoiding diaster: Part II
We continue our post Castlebeck series on how to avoid mistreatment with an interview with Dr Jean Claude Marian, head of Orpea, the big French care home group. ...
July 1, 2011
FREE BLOG How are European healthcare property markets faring?
Europeans often caste envious eyes across the Atlantic where the top five real estate investment trusts have a combined market cap of over $40bn...
May 27, 2011
Healthcare services M&A up sharply
After four and a half months M&A volumes in healthcare services in Europe at €4bn in 2011 have already surpassed the €2.9bn achieved in 2010, according to Martin Henrichs of Credit Suisse, speaking at the Healthcare Europa Laing & Buisson Investing in Healthcare conference. He also outlined the sectors and regions investors are most interested in and at how funding was changing....
April 27, 2011
Italian regions look set to welcome French interlopers
Faced by a projected 15,000 shortage of nursing home beds, Italian regions seem ready to welcome French consolidators....
April 12, 2011
French care groups make money abroad
2010 results show that the big French care homes, Orpea, Korian and Medica, are increasingly confident that they can diversify successfully outside France and achieve good EBITDAR margins. Not before time - the move to competitive tendering in France could be more painful than they admit....
April 1, 2011
Public sector care homes may open up to PPP says Cofinimmo
Listed Belgian property investor Cofinimmo is optimistic that the government will give the green-light to sale and leaseback of government owned nursing homes. Meanwhile it has switched its portfolio from 100% office five years ago to 55% today putting the rest into nursing homes. We talk to Sebastien Berdens, Cofinimmo’s Belgian nursing home investor about how the private sector is developing....
February 21, 2011
Where will big French care groups go for growth?
The top four French nursing homes now have a 45 to 50% share of the private market and 75% of the market held by the top 15 operators, according to Jacques Bailet, chairman and chief executive at Medica. He says that the company accelerated its acquisitions in the second half of 2010, as the authorities in 2010 and the first of 2011 have introduced a freeze on any new beds. Medica saw sales rise 12% in 2010, beating its flotation forecast of 10% and expects sales to grow 45% by 2012....
