PARIS--(BUSINESS WIRE)--Regulatory News:
Six months after entering the Dutch market, Korian Group (Paris:KORI), leading European care company dedicated to ageing and fragile people, accelerates its growth in the Netherlands with the acquisition of two fast-growing networks and diversifies its offering from dementia care to independant living and rehabilitation centers.
Korian will acquire 9 assets (3 existing ones and 6 sites under development totaling 250 beds and appartements by 2021) developed by Het Gouden Hart, a family owned company that has specialized in care residences combining assisted living appartments with ambulatory medicalized care services. The founders will be involved in the further development of their care concept and services within the Korian Group.
Korian has reached an agreementwith Ontzorgd Wonen, currently the largest private operator in the Netherlands to acquire 5 facilities, representing 240 units, of which 2 geriatric rehabilitation centres located close to Amsterdam. An additional acquisition of 7 facilities, representing another 240 beds/appartments, is currently under exclusive discussions with the vendor.
In June 2019, the Group entered the dutch market through the acquisition of Stepping Stones, a specialized company which operates14 small-sized residential facilities specialized in the care of Alzheimer’s disease and cognitive disorders. Thanks to consistent pipeline, Stepping Stones network is expected to reach around 25 homes by end of 2021, representing approx. 580 beds.
Based both on organic development and contribution of recent acquisitions, Korian portfolio in the Netherlands will reach 50 sites by the end of 2021, representing a network of approximately 1,300 beds and a diversified offering encompassing care villas and coliving, local service platforms and geriatric post acute small-sized centers.
Building on its values and recognized care expertise across Europe, Korian aims to be an active and innovative player in the fast evolving Dutch elderly care landscape and to build diversified service offering to better serve the needs of fragile people and their beloved ones, from small-sized, highly medicalized care communities to assisted living, all being strongly connected to the local communities.
Next publication: 27 February 2020 – Full-year revenue and results 2019 (after market close)
Korian, the leading European Care Services Group for elderly and vulnerable people
Korian has been listed on Euronext Paris (Compartment A) since November 2006 and is included in the
following indices: SBF 120, CAC Health Care, CAC Mid 60, CAC Mid & Small and MSCI Global Small Cap
Euronext Ticker: KORI - ISIN: FR0010386334 – Reuters: KORI.PA – Bloomberg: KORI.FP