PARIS--(BUSINESS WIRE)--Regulatory News:
Korian (Paris:KORI), the first integrated European group for the care and support services for elderly and fragile people, continues to strengthen its local networks in the regions where it is present, in order to be able to offer, in line with its corporate project "Le Soin à Cœur ", forms of local support adapted to different situations and respectful of the free choice of seniors and their loved ones.
Integrating facilities within digital ecosystems
Following on from its developments in 2019 to facilitate outpatient or at home follow-up of fragile people or experiencing a loss of autonomy and allow effective coordination of health professionals working with them (Oriane, Omedys, Move in Med in France and Over in Italy), Korian has entered into two new innovative partnerships.
The first one aims to accelerate digitalization in medico-social or health facilities.
Korian has entered into exclusive talks with mutual group VYV to take a majority stake in Technosens, a startup developing simple and ergonomic digital solutions, that strengthen residents’ and patients’ remote links with their loved ones, and improve coordination and working conditions for care teams.
This Grenoble-based start-up created in 2017 has designed a unique solution in the market, E-Lio, which consists of a platform allowing three-way interaction between Residents / Patients - Families – Staff through a box installed in each room and connected to the television. This solution has been tested and developed for more than a year in three of the Korian group's facilities in France. Thanks to the partnership concluded, it will now be able to be gradually rolled-out in all of the Group's nursing homes and clinics in France and then in Europe. It can also be adapted for home use.
The second one aims to facilitate local links with liberal health professionals working at home or in a facility.
As such, Korian has decided to enter into a partnership with the start-up Medicalib, by taking, alongside its founders and Day One Entrepreneurs and Partners, a minority stake in the capital of this company.
Medicalib is a startup that has developed a platform to connect patients with home care professionals (nurses, physiotherapists and midwives) using a geolocation system, allowing patients wanting to book home visits to get a call-back in less than one hour. The platform features 10,000 government-certified independent healthcare professionals, accredited by the health insurance system, in 1,200 towns, and has already handled more than 220,000 care requests since it was created.
Through these various initiatives, Korian thus contributes to the creation of an ecosystem of digital and innovative solutions, making it possible to better organize, locally, the care pathway for the elderly and vulnerable and benefiting all stakeholders.
Continuing to develop alternative, inclusive accommodation in France
Korian wants to be able to offer, at the scale of living areas, services adapted to different fragile situations, at home, in suitable living places or in medical facilities.
In France, following on from its development since 2018 with of of shared housing for seniors Ages&Vie, adapted to rural and peri-urban areas, the Group is now building up its assisted living facilities business with the acquisitions of the Les Essentielles group.
Created in 2011, Les Essentielles has developed 11 facilities (914 accommodation units) located in town centres close to shops and transport links, mainly in the Paris region and Eastern France. Nine more facilities will open between now and 2022 across France, including two in late 2020.
This acquisition is, as well as shared housing for seniors, complementary to the other Group’s activities, home care and services offering, post-acute clinics and long-term care nursing homes.
Strengthening the local services network in Europe
In Germany, Korian is strengthening is local presence in Lower Saxony and North Rhine-Westphalia with the acquisition of Eulennest, a family business that has developed local platforms combining long-term care nursing homes (607 beds), assisted living facilities (163 apartments), daycare (42 places) and home care services. Other platforms will be developed on the same model, providing 265 medicalised beds and 185 apartments in additional assisted living facilities.
In Italy, the Group is continuing to strengthen its network in the regions in which it is already present in local medical activities in order to create specialized healthcare channels.
This is the case in Tuscany, with five clinics from the Santa Chiara family group, which make it possible to complete the local network in terms of outpatient care, diagnosis and functional rehabilitation after the investments made in 2018 and 2019 through the San Giuseppe and Frate Sole clinics.
This is also the case in Lazio, with the acquisition of Santa Marinella, a medicalised nursing home (100 beds), which will complement the healthcare network developed by Korian for two years in this region and support the development of additional offers.
In the Netherlands, Korian is integrating five new living units specializing in psychogeriatric, combining medicalised nursing homes with assisted living facilities and welcoming elderly people with psychiatric or somatic disorders. These high quality facilities, HKZ2 certified, are located in suburban areas; they have a capacity of 111 beds, and 79 additional beds will be developed. This operation will bring the group’s accommodation capacity in the Netherlands to 1,500 beds by 2021.
A new milestone in Korian’s commitment to social and environmental responsibility: €173 million of 8-year notes issued through its first Sustainability Linked Euro Private Placement
In line with the 15 ESG3 commitments made by the Group last February, Korian announced on June 18, 2020, the issuance of a Sustainability Linked Euro PP in the amount of 173 million euros over 8 years.
Fully involved in its social and environmental responsibility and attentive to its stakeholders, Korian decided to carry out a Sustainability Linked Euro PP, which links part of its long-term financing with the fulfilment of three of those key commitments between now and 2023:
- Achieving ISO 9001 certification across all its facilities in Europe,
- Doubling the proportion of staff members participating in qualifying training programs,
- Reducing its direct and indirect CO2 emissions.
Depending on the extent to which each of those targets are met, the interest rate on the notes may be increased or reduced by up to 20bp. If the interest rate is increased, half of the increase will be allocated to internal compensatory measures and/or paid to one or more external partners (such as associations or NGOs), with the other half being paid to investors. Korian’s fulfilment of the commitments concerned will be checked annually by an independent third party when the Group’s Statement of Extra-Financial Performance is reviewed.
The funds raised through that transaction will be used to support the Group’s development of projects contributing to the success of its social and environmental strategy, in line with the expectations of its stakeholders.
22 June 2020: Annual General Meeting behind closed doors
30 July 2020: first-half 2020 revenue and earnings (after the market close)
Korian is the leading European care and support services group for elderly and fragile people. www.korian.com
Korian has been listed on Euronext Paris Section 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
1Social and environmental responsibility (SER)
2Dutch quality standard
3ESG : Environmental-Social-Governance