Korian Strengthens Its Spanish Platform by Acquiring Grupo 5’S Nursing Homes Activities
Summary
One step further to build a strong platform in Spain This acquisition expands the offering of Seniors, a Spanish company acquired by Korian early 2019 which operates 7 high-end facilities in Andalusia and 2 facilities in Valencia , representing a diversified portfolio of more than 1,300 beds, including nursing homes, assisted living and day care services. These 6 additional facilities, located on the island of Mallorca1 care for nearly 700 residents (private and concerted beds2) and 130 day centre visitors. Thanks to this new acquisition, Korian now benefits from a strong Spanish platform of 15 facilities with c. 2,160 beds and a total turnover of about €34m, which gives it a presence in three regions in which equipment needs in terms of elderly care and dependency are important. With this partial divestment, we are focusing on the development of new centres in the areas of mental health and neurologic rehabilitation.” Sophie Boissard, CEO of Korian Group added: “We are proud to have been entrusted the nursing home activities of Grupo 5 that invested heavily in both quality and care for elderly. Korian will continue to actively pursue its development in the Spanish market and will take advantage of the opportunities in the Balearic Islands to expand its historic business and to develop adjacent activities.” Korian, an expert in care and support services for the elderly, manages Europe’s leading network of long-term care nursing homes, specialised clinics, assisted living facilities, and homecare and hospital-at-home services.