• Transaction / Assets
    DomusVi Acquires Senior Citizens' Facility Clínica da Lomba
  • Seller
    n/a
  • Buyer
    DomusVi
  • € MM
    n/a

DomusVi Doubles Down on Portugal, Buying a Seventh Geriatric Residence

23 January 2019

The deal allows the company to expand the number of senior citizen centres it owns in Portugal to seven. DomusVi declined to reveal details of the transaction.

DomusVi is doubling down on Portugal. The socio-health services company has acquired yet another geriatric residence in Iberian country, though the company declined to release any details of the transaction. The company acquired Clínica da Lomba, a senior citizen residence south of Porto. The home has the capacity for 65 residential units and employs 54 professionals.

The acquisition brings the number of senior citizen residences DomusVi owns in Portugal to seven. Five of those (in Aveiro, Viana do Castelo, Porto and Gaia) are in operation, while the remaining two (one in the centre of Lisbon and the other in Porto) are currently under construction. When the company completes the two residences, it “will rank as the second largest operator in the country regarding the number of beds, with 613,” it said in a statement.

The company’s into the Portuguese market occurred last April after it completed its acquisition of Carlton Life. As of today, DomusVi has 373 senior citizens’ residences in France, Spain and Portugal. It also has a wide network of day centres and offers home care services.

The group has also already announced its intention to continue its expansion based on a strategy of acquisitions. The company announced that it expected to spend over 100 million euros in total in 2018, compared to investments of 95.6 million euros in 2017.

Original Story: PlantDoce

Translation: Richard Turner