The Korian Group Moves into Spain and Reinforces Its Position as Market Leader in France and Germany
The
Expansion into
The Group announces the acquisition of Seniors, a Spanish company which operates a group of seven high-end long-term care nursing homes around Malaga, in Andalusia, representing a diversified portfolio of around 1,300 beds, incuding assisted living facilities and day care. Seniors, which generated revenue of around €15m in 2018, and which is recognized for the quality of its service, has significant potential growth, notably, with three facilities still in ramp-up phase. This acquisition allows
Pursuit of the Group’s locally based development strategy in
In
Finally, in
Increased financial flexibility
In December, the Group issued €450m of Schuldschein financing (a German private financing tool) composed of tranches with maturities of five to eight years. This operation was largely over subscribed and raised to €450m due to high demand and favourable rates and margin conditions. The funds raised were notably used to refinance existing lines of credit, thereby enabling
Next event:
2018 annual revenue
About
Twitter: @_Groupe_Korian
LinkedIn: https://www.linkedin.com/company/groupekorian/
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