31 January 2019 – Eje Prime
Korian is going on a shopping spree on the Costa del Sol. The French company has announced the acquisition of Seniors, a Spanish company that operates seven nursing homes for the elderly in Málaga. The Andalucían residential group, which recorded revenues of €15 million in 2018, has a supply of around 1,300 beds.
The operation represents Korian’s debut in Spain, the fifth market in which the company has a presence. In fact, the purchase forms part of its expansion strategy across Europe. Currently, the company also has operations in France, Germany, Belgium and Italy.
Although the economic terms of the sale have not been revealed, the CBRE group (which has acted as the financial advisor) said in a statement that “it is one of the largest corporate operations of 2018 by investment volume in the nursing home sector”. The Seniors group, founded in 1998, is a family company backed by 100% Andalucían capital.
Original story: Eje Prime
Translation: Carmel Drake