Korian and its Partners, Crédit Agricole and Banque des Territoires, Invest 400 Million Euros in French Territories

• Financing of a second Ages & Vie real estate programme comprising 330 houses
• 500 to 600 shared houses by the end of 2025, from 164 in 2021
• Sustainable, eco-friendly buildings (HQE – NF Habitat standard)

PARIS--(BUSINESS WIRE)--Regulatory News:

Korian (Paris:KORI), the leading European care services group for elderly and fragile people, has entered into a new agreement with Crédit Agricole and Banque des Territoires to finance a second real-estate investment programme in relation to 330 Ages & Vie houses to be delivered by 2025.

This 20-year partnership will allow to finance constructions through a property company, 30% owned and controlled by Korian, and 70% owned, equally, by Crédit Agricole through a dedicated structure held by Crédit Agricole Assurances and regional banks of the Crédit Agricole group, and Banque des Territoires. This follows an initial agreement signed in 2019 to finance the construction of 300 houses, which will be fully delivered in 2023.

This partnership between three players with a strong local footing confirms its capacity to invest capital in French territories in order to facilitate the creation of projects combining economic development and social inclusion.

Ages & Vie is a network of shared houses in rural and suburban locations, suited to elderly people who seek assistance with day-to-day living but do not need permanent medical support.

These facilities are composed of living units designed to accommodate 8 elderly persons, benefiting from their own private space while sharing common living areas and being assisted by carers, some of whom living in the facilities with their families.

The local anchoring, at the heart of municipalities, of these shared, inclusive and human-sized homes, allows to meet needs which were so far poorly covered, in terms of local social support to elderly or fragile people.

All Ages & Vie houses will also meet the highest environmental building standards, as the HQE (high environmental quality) – NF Habitat label.

Created in 2008, the Ages & Vie network comprised close to 50 homes, located in the Bourgogne-Franche-Comté region, when it became part of Korian in 2018. This network will have around 300 homes in 150 municipalities on French territory by 2023 and there will be 500 to 600 houses when it is expected to accommodate nearly 5,000 elderly people and to create 1,500 to 1,800 carer jobs.

Sophie Boissard, Korian’s Chief Executive Officer, declared: “I am very delighted by the renewed confidence of our historical partners Crédit Agricole and Banque des Territoires. We are happy to be able to facilitate, through our common financing, the creation of inclusive living spaces allowing elderly and fragile people to continue living at the heart of their local ecosystem.

The strength of our partnership is to be able to invest rapidly in very local projects, in support of players which are deeply footed in territories, and to contribute to the economic and social development of rural or suburban areas. This model, agile and value creative, is gaining ground in other European countries, particularly in Germany.”

Philippe Dumont, Chief Executive Officer of Crédit Agricole Assurances commented: “Crédit Agricole is strengthening its commitments to facilitate access to healthcare and aging well in all regions. We are proud to continue our investments in this inclusive housing solution which combines shared living and daily assistance, meeting the expectations of the elderly and their loved ones.”

Olivier Sichel, Managing Director of Banque des Territoires, explains: “These co-living spaces, which support employment and social life in rural and peri-urban areas, meet the need to stay at home expressed by the elderly. This second participation of Banque des Territoires will allow to pursue and accelerate the deployment of the Ages & Vie houses for more inclusive territories. Banque des Territoires thus confirms its commitment to personalized care for the elderly and a diversification of the living spaces made available to them.”

Forthcoming events:

28 July 2022 – First half 2022 revenue and results

About Korian

Korian, the leading European care 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